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Savings

You can view existing deposits under the Savings tab.

The following information is displayed for each deposit: deposit account, currency, amount deposited, interest and maturity date.

If you position the mouse arrow over a deposit account, you will see the type of deposit. Clicking on the deposit account will bring up the www.nordea.ee page, where you can read more about the deposit and familiarize yourself with the general terms and conditions as well as rules for deposits.

To open a deposit, fill in a form and confirm it by clicking on Confirm button. After you receive confirmation for the application, it will be send to the bank. On the basis of the corresponding application, a deposit will be opened for you no later than the next banking day. Deposit application sent to the bank after 19.30 will be opened on the next banking day. You can see deposits in Netbank the very next banking day after it is opened. If your application does not meet the conditions, the bank will notify you. Check to see if you have new mails in your mailbox.

Time deposit
Target deposit
Savings account
Savings calculator
 

Time deposit
The time deposit is for investing a definite amount of money for a definite period of time. As a rule, the time deposit offers the highest interest rate. Time deposits opened in Netbank will earn higher interest than time deposits opened at offices or service outlets.

The deposit period is 1 month to 1 year. The minimum amount deposited is 100 EUR or its equivalent in other currencies. The permitted deposit currencies are EUR, USD, GDP and NOK.
It is not permitted to make early withdrawals from time deposits.
 
All of the required fields must be filled in for opening the deposit:

  • Current account (funds available) – the account from which the deposited amount will be transferred to the deposit account. The funds will be transferred back to this account after the deposit is matured;
  • Deposit amount – enter the amount to be deposited in numerals;
  • Deposit period – choose how long the funds will deposited, in months, from the dropdown menu;
  • Deposit period shall be extended automatically – if No, the amount will be paid back to the customer with interest upon the expiry of the period. If Yes, specify the number of months by which the period will be extended each time and where accumulated interest  is to be paid – the current account or the time deposit account;
  • Deposit period shall be extended each time by - the number of months by which the period will be extended each time the time deposit is matured;
  • Upon each extension of deposit period, the accrued interest shall be paid to - specify the account where accumulated interest will be paid every time the time deposit matures. Options are either current account or the time deposit account.

Familiarize yourself with interest rates by selecting the link marked Interest rates.

After you have filled out the necessary fields, press OK. You can thereafter preview the filled-out time deposit application. If you have decided to open a time deposit, you must read the terms of Time Deposit and if you consent to them, check the appropriate box. Then press Confirm button.

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Target deposit
This is a fixed time deposit to which you must every month make additional deposits of an agreed upon size. The terms and amounts of the additional deposits are specified in the deposit agreement.

The deposit period can range from 6 months to 5 years. The currencies allowed are EUR and USD. No early withdrawals are permitted.

All of the required fields must be filled in for opening the deposit:

  • Current account (funds available) – the account from which the deposited amount will be transferred to the deposit account. The funds will be transferred back to this account after the deposit is matured;
  • Deposit period – choose how long the funds will deposited, in months, from the dropdown menu;
  • Amount of first instalment – the one-time deposit;
  • Amount of instalments – a periodic deposit to be made with the frequency you specify;
  • Regular payment frequency  – you can specify how often you wish the transfers to be executed: monthly, quarterly, or semiannually;
  • Date of instalments – you can specify on which date the funds will be transferred from your current account to your deposit account.

Familiarize yourself with interest rates by selecting the link Interest rates.

After you have filled in the required fields, press OK. You can thereafter preview the target deposit application before confirming. If you have decided to open a target deposit, you must read the terms of Target deposit and if you consent to them, check the appropriate box. Then press Confirm button.

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Savings account
The Savings account can be used to save money with the flexibility of a current account and the interest rates of a term deposit.

The deposit is without a term. The allowed currency is EUR. The first deposit to the Savings account must be at least 6,40 EUR or the equivalent in a different currency. The time, number and amount of subsequent deposits is not restricted.

All of the required fields must be filled in for opening the Savings account:

  • Current account (funds available) – the account from which the deposited sum will be transferred to the deposit account;
  • Amount of initial instalment – a one-time deposit of at least 6,40 EUR or the equivalent in other currencies. The time, number and amount of subsequent deposits is not restricted;
  • Interest shall be paid to – interest is transferred once a quarter as you desire to either the same Savings Deposit acount or to your current account.

Familiarize yourself with interest rates by selecting the link Interest rates.

After you have filled out the required fields, press OK. You can thereafter preview the filled-out term Savings account application. If you have decided to open a Savings account, you must read the terms of Savings Account and if you consent to them, check the appropriate box. Then press Confirm button.

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Deposit calculator
The deposit calculator will help you calculate how much money you will accumulate depending on the type of the deposit, amount and period.

Choose the type of deposit from the list and press Select.
For Time deposit, enter the deposit amount, currency and period and press Calculate.

For Target deposit, enter the deposit amount, currency, period, regular payment amount and frequency with which regular amount will be deposited. Press Calculate.