Rietumu Bank

LatviaLatvia(A)

• Start saving from €5,000 up to €100,000

• Deposit Guarantee protection Up to €100,000 payout in EUR

logo of Rietumu Bank

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Rate
Term
Currency
Product Type

Rate

3.45% AER

Term

1 Year

Currency

EUR

Product Type

Term deposit
Term deposit
Save now
Gross rate

3.45%

AER

3.45%

Compound interest

No

Term

1 Year

Availability

When the deposit reaches maturity

Interest capitalisation?

No, Interest is paid at maturity

Interest payment

At maturity

Interest type

Fixed - The rate won't change for the entire term.

Renewal

You can choose to extend this deposit if you enable the option in your Raisin Account

About the Bank

Rietumu Bank is a Latvian bank headquartered in Riga, Latvia. Established in 1992, it has become one of the leading banks in the Baltic region, offering a wide range of financial services to individuals and businesses. The bank specializes in corporate banking, private banking, and investment services, catering to both local and international clients. Rietumu Bank is known for its expertise in international trade finance, capital markets, and wealth management solutions. It has built a reputation for reliability and professionalism, attracting clients from various industries worldwide. The bank adheres to strict regulatory standards and is committed to maintaining the highest level of integrity and customer service.

Deposit Guarantee Scheme

The statutory Deposit Guarantee Scheme in Latvia guarantees deposit amounts up to a maximum of 100,000 Euro per bank and customer. Further information about the Deposit Guarantee Scheme can be found at http://www.fktk.lv/en. Within the European Union, the minimum amount guaranteed by Deposit Guarantee Schemes of each member state has been harmonized by EU directives 94/19/EG, 2009/14/EG and 2014/49/EU.

Tax process and documentation

In Latvia, a withholding tax of 20 % will be levied on interest payments from 1 January 2018, although this can be reduced. In order for the withholding tax to be reduced to 10%, the Bank must receive a certificate of residence no later than eight weeks before the due date. You should be able to claim additional tax relief for this foreign tax in Ireland.

Raisin Bank's role

With Raisin Bank, one login gives you access to competitive savings accounts from banks across Europe, allowing your savings to work even harder. No fees, no paperwork: saving with Raisin Bank is online and hassle-free.