Savings

Early deposit withdrawal conditions

Rietumu Bank offers favourable conditions for early redemption of term deposits. If you resolve to terminate your term deposit ahead-of-schedule, the following conditions apply:

• In case of early redemption of term deposit with initial maturity up to 1 year, you will get 50% of the accrued interest calculated according to the interest rate in Term Deposit Application. No further penalties applied to the principal.
• In case of early redemption of term deposit with initial maturity 1 year and over 1 year, you will get 50% of the accrued interest calculated according to the interest rate in Term Deposit Application. In addition Bank will charge 0.5% from deposit principal amount as early redemption fees.

The principal and the accrued interest will be repaid upon expiration of one calendar week following the receipt of your early redemption written request.

When terminating deposits, if there was an overpaid deposit interest by the time of the receipt of your early redemption written request, the excess amount will be recovered from the principal.

In case the term deposit with growing interest rate is terminated ahead of schedule, and if the required conditions are not observed (early redemption exactly after a year the term deposit was opened, as well as the day when the following years end during the deposit term – with early redemption written request to the Bank one week ahead), then the accrued interest for the last year of deposit are not paid out and Bank will charge 0.5% from deposit principal amount as early redemption fee. The deposit principal will be repaid upon expiration of one calendar week following the receipt of early redemption written request.