Term deposit
Interest rate up to 3.20%
- More flexibility with Term deposit or Term deposit Plus
- The deposit term can vary from 1 month up to 120 months
- The minimum deposit amount is 1 000 EUR
How much can you earn?
Deposit in
5 min
Interest rate up to
3.20%
Term deposit - what it is?
A term deposit is the process of keeping a specific amount of money in a financial institution for an agreed period of time. The institution pays interest for the time they hold the money. The amount of interest and the payout frequency are determined on the day of signing the deposit contract. Remember that term deposits cannot be terminated until the agreed period of time passes, and no interest will be paid upon early termination.
A term deposit is one of the most reliable ways to generate passive income and to get your money that you set aside for saving working for you. Since the interest rate is agreed in advance, any financial institution is committed to it for the agreed period. This way, your money doesn’t lose value due to inflation or other market changes.
Saldo term deposits have many advantages
Fast registration
Our registration system is extremely fast: you can create an account to open a term deposit at any time of the day.
High interest rates
Saldo provides fixed term deposit interest rates. We offer up to 3.20% interest rate for 12 months.
No hidden costs
Opening a Saldo Bank term deposit account is completely free - no monthly or annual fees, even if you're not a client yet.
Insured
Your term deposits are insured by the SC Deposit and Investment Insurance. The total amount of insurance for all your deposits combined is up to €100 000, irrespective of the number of deposits you have. It's important to note that even if you have multiple deposits with Saldo, the total insured amount will not exceed €100 000 as stipulated by the guarantee system.
Fast process
- 1
Create a deposit account
The application is completely automated and online, so you can open a term deposit account directly from our website. The application is open for everyone, even if you are not yet a Saldo customer.
- 2
Verify your identity and sign the deposit agreement
You will be required to verify your identity to ensure a safe process. When you have completed the identification successfully, you can sign the deposit agreement and accept the terms and conditions provided. The deposit agreement specifies the amount, term and interest rate for the term deposit.
- 3
Deposit the money within 10 days
After signing the term deposit agreement, you will have 10 days to transfer the deposit amount to the provided bank account. If the money is not transferred within 10 days, the deposit agreement will be automatically terminated. You can make the transfer from your chosen bank account. Cash deposits are not possible.
- 4
You deposit account has been activated
Your deposit account has now been successfully activated and your investment is growing. The accrued interest and the initial deposit are paid on the last day of the deposit term to your chosen bank account. On the due date you will also have the possibility to start another equally long term deposit period with the same initial deposit but with the updated interest rate for that set date.
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Term deposit and its conditions
| The deposit sum can be between €1 000 - €100 000 |
| The maximum amount that you can keep in Saldo term deposit accounts is €200 000 |
| The deposit term can vary from 1 month up to 120 months |
| Accrued interest is paid on the last day of the deposit term |
| The depositor can terminate Term deposit agreement anytime. However, Term deposit Plus agreement can be terminated only in exceptional circumstances (job loss, severe illness, death of the depositor, their spouse, child, or another close relative) or with the consent of the bank |
| Saldo term deposits are accepted only in Euros |
| In some cases, we may ask for additional documents to open a term deposit account |
Interest rate returns
In the table you can find and compare term deposit returns which depend on the deposit amount and period.
| Deposit type | 1-5 months | 6-8 months | 9-11 months | 12-17 months | 18-23 months | 24-35 months | 36-60 months | 61-120 months |
|---|---|---|---|---|---|---|---|---|
| Term deposit | 1.90 % | 2.40 % | 2.70 % | 3.10 % | 3.10 % | 3.00 % | 2.90 % | 2.40 % |
| Term deposit Plus | 2.00 % | 2.50 % | 2.80 % | 3.20 % | 3.20 % | 3.10 % | 3.00 % | 2.50 % |
| Deposit type | Term | 5 000 EUR | 10 000 EUR | 50 000 EUR |
|---|---|---|---|---|
| Term deposit | 6 months | 60 EUR | 120 EUR | 600 EUR |
| 12 months | 155 EUR | 310 EUR | 1 550 EUR | |
| 24 months | 300 EUR | 600 EUR | 3 000 EUR | |
| 60 months | 725 EUR | 1 450 EUR | 7 250 EUR | |
| Term deposit Plus | 6 months | 62.50 EUR | 125 EUR | 625 EUR |
| 12 months | 160 EUR | 320 EUR | 1 600 EUR | |
| 24 months | 310 EUR | 620 EUR | 3 100 EUR | |
| 60 months | 750 EUR | 1 500 EUR | 7 500 EUR |
Have a question? We answered most of them already.
Cannot find answer to your question?
Contact usTerm deposit is a financial tool that allows you to keep a specific amount of money in a bank or other financial institution for an agreed period of time, for which the bank or other financial institution pays interest.
This is one of the most stable ways to get passive income and get your money working for you. With term deposits, your money won’t lose so much value due to inflation or other market changes. Irrevocable term deposit can only be cancelled and taken out before term under special circumstances.
Yes, all term deposits up to € 100 000 per person are insured. Note that the limit is per person and not per term deposit agreement. Read more.
The key difference between Term deposit and Term deposit Plus is flexibility versus higher returns:
Term deposit offers the flexibility to withdraw your funds anytime. However, if you cancel early, you forfeit the accrued interest.
Term deposit Plus provides a higher interest rate, maximizing your earnings. In return, your funds are locked until the term ends, with early withdrawal allowed only in exceptional cases or with the bank's approval.
If you prioritize flexibility, term deposit is the better choice. If you want higher returns, term deposit plus is the smarter option.
The shortest term of the term deposit is 1 months, the longest is 120 months.
The minimum term deposit is € 1 000 and the maximum is € 100 000.
A bank transfer is required to make a deposit at Saldo Bank. Cash deposit is not possible.
You only need to fill out the application, identify yourself and sign the contract remotely on our website. The process of signing the contract is completely remote.
You can calculate the annual interest rate for the desired amount and period using the calculator on the Term Deposit page or contact customer service specialists by phone +370 604 45179 or e-mail by mail customerservice.lt@saldo.com.
Yes, the depositor can terminate term deposit agreement anytime. However, term deposit plus agreement can be terminated only in exceptional circumstances (job loss, severe illness, death of the depositor, their spouse, child, or another close relative) or with the consent of the bank
Accrued interest is paid on the last day of the deposit term.
Yes, the term deposit can be extended for the same term.
Prior to term deposit maturity date, turn on the auto-renewal function in Saldo Internet Bank and your term deposit will be renewed automatically for the same term as the original, with the applicable interest rate on the renewal date. You can find auto-renewal and turn on/off at the bottom of general information of your term deposit.
Unfortunately, it is not possible to renew the deposit after it reaches its maturity date. In order to continue saving with Saldo Bank, please fill out the term deposit application again.
After you enter into a term deposit agreement, all information about your deposit, including accrued interest and contracts, will be available on the Saldo Internet Bank.
The process of entering into the contract is completely remote. You can fill out the application, identify yourself and sign the contract remotely on our website www.saldo.com.
The current interest rate for a 12 month term deposit is 3.20%, but interest rates are subject to change.
After signing the term deposit agreement, you will have 10 days to transfer the deposit amount to the provided bank account. If the money is not transferred within 10 days, the deposit agreement will be terminated.
When your deposit expires, the deposit amount along with accrued interest is transferred to your account within 7 calendar days.
