Savings

Baiba Aboltinja

Senior specialist of Term Deposit Department

Julia Grin'

Head of Term Deposit Department

+37167005545

deposit@rietumu.lv

Term Deposit Applications

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Сhild's savings account "Oxford"

The bank’s new savings programme, which allows to accumulate and secure funds for your child’s first steps in individual life, such as obtaining a university degree, purchase of a real estate or starting-up a business. The deposit can be opened anytime starting from the child’s birth until he comes of age. You can also add funds to the deposited amount to increase pay-outs at the end of term.

Amount to Deposit

This calculator is intended for illustration purposes only and does not guarantee calculation results. Taxation rates are not included in calculations.

Conditions

The account currencies: EUR, USD
Minimal amount for interest accrual: 5000 EUR/USD
Minimum single instalment amount 500 EUR/USD
Your child is a legal owner of the deposit. Access to the deposit account is limited – the deposit amount along with accrued interest can be paid off only to your child once he/she comes of age¹.
Interest pay-out: at maturity

Age of the child *	EUR	USD
till 8 years old	6%	4.5%
from 8 up to 13 years old	5%	4%
from 13 up to 15 years old	4.5%	3.5%
from 15 up to 18 years old	3.75%	3%

*Interest rates are applicable for all funds deposited on the account during period.

¹ In special cases, when a necessity to access the deposited funds arises for the sake of your child’s benefit, but before the child comes of age, a decision to pay off the funds placed on Children’s Savings Account can be made only by a wardship authority as stipulated by laws and regulations of the Republic of Latvia.

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+371 67025555 Rietumu.Info

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