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Deposits

Let your savings securely earn more

  • Deposit is the most convenient and secure way to grow your money – your deposit is state-guaranteed up to € 100,000. What does this mean for you?
  • You can choose from a range of different deposit periods and features to suit your needs.
  • Term deposit interest rate is up to 3,6%.
  • Term deposit interest rate is up to 3,35%.

Reimbursement of deposits

Deposits of up to 100,000 euros opened in any bank registered in Estonia, including Swedbank, are always protected by the state.

This means that if something were to happen to a bank, deposits held with that bank, including accrued interest, will be reimbursed up to a maximum of 100,000 euros.

More information on the procedure for awarding reimbursement, the payment of reimbursement, and terms, can be found on the website of the Guarantee Fund.

The calculation is approximate and may differ from the conditions offered to you.

All interest paid out on deposits is subject to income tax. This taxation is only applicable to private Estonian residents. Pursuant to the Income Tax Act, investors who are private persons can postpone the VAT payable on investment income upon using an investment account.

Give your money a chance to grow also by investing it. You can do it also with 1 euro!

Learn more

  • The minimum deposit is 190 euros.
  • Wide choice of deposit periods – you can choose from 2 days to 2 years.
  • At your request, the interest on your deposit will be credited to your account at the end of the deposit period or once a month.

  • Automatic extension – if you wish, you can choose to automatically extend your deposit. In this case, at the end of the deposit period, the deposit will be automatically extended for the same deposit period (e.g., 3 months, 12 months) at the then current interest rate on the price list.

    You can choose to have your deposit automatically extended with:

    • principal sum only (without interest) – income tax is withheld on the interest paid into the current account;
    • or together with the interest earned – in this case, income tax is withheld from the interest on the deposit before extension.
  • You can also open a deposit in five foreign currencies – US and Canadian dollars, Swedish kronor, Norwegian krone, and British pounds.
  • It is not possible to make any additional payments while the deposit is valid, but you may open a number of different deposits with different amounts and terms depending on your future plans and needs.
  • If necessary, you can withdraw your deposit before the term free of charge, but you will not earn interest on the deposited time. The deposit amount will be credited to your account as soon as the deposit is withdrawn, and if you have already received monthly interest on the deposit, this will be deducted from the deposit amount to be returned. We will automatically refund you any income tax previously withheld on the interest.
  • We will withhold income tax on the interest income and notify the Estonian Tax and Customs Board on your behalf. Withheld tax will be automatically reflected on your tax return. If you want to defer your income tax liability, you can also open a deposit via an investment account.To use an investment account, when you open a term deposit, you need to click on ‘More settings’ and tick the box to indicate that the deposit was purchased with investment account funds. Also be careful that the account you choose is an investment account.
Conditions of term deposit

The interest rates on a term deposit

Minimum deposit amount 190 EUR
Period Annual interest rate
< 1 month 0.1
1 month 2.50
3 months 3.60 3.35
6 months 3.50 3.25
9 months 3.50 3.25
12 months 3.30 3.10
18 months 3.00 2.50
24 months 2.50 2.25
Minimum deposit amount 250 USD
Period Annual interest rate
1 month 1
3 month 1.5
6 months 1.75
9 months 2
12 months 3
18 months 3
24 months 3
Minimum deposit amount 180 GBP
Period Annual interest rate
1 month 0.5
3 month 0.7
6 months 0.9
9 months 1.1
12 months 1.3
18 months 1.3
24 months 1.3
Minimum deposit amount 2100 SEK
Period Annual interest rate
1 month 0.3
3 month 0.4
6 months 0.6
9 months 0.8
12 months 1
18 months 1
24 months 1
Minimum deposit amount 1700 NOK
Period Annual interest rate
1 month 0.3
3 month 0.4
6 months 0.6
9 months 0.8
12 months 1
18 months 1
24 months 1
Minimum deposit amount 310 CAD
Period Annual interest rate
1 month 0.5
3 month 0.7
6 months 0.9
9 months 1.1
12 months 1.3
18 months 1.3
24 months 1.3

Effective from 26.09.2024

Effective from 22.10.2024

Interest rate is presented on a basis of accounting year (360 days). Interest is calculated for the actual deposit days.
  • An overnight deposit is a flexible way to earn interest on a larger amount. You can deposit a minimum of 30,000 euros or 100,000 US dollars.
  • An overnight deposit means that at the end of each day, the money in the current account indicated in your overnight deposit agreement is transferred to a short-term deposit, where it earns interest. By the morning of the following day, your money will be credited back to your current account, together with any interest earned.
  • Overnight deposits have the shortest term of all deposits – from 22.00 each evening until 7.00 the next morning.
  • The interest rate on overnight deposits can change daily.
  • The opening of a deposit is subject to the existence of a minimum contractual amount on the current account (excluding the overdraft limit).
  • You can easily see the interest earned on your overnight deposit in the report. Log in to your Internet Bank, open the ‘Everyday Banking’ menu, and find the report in the ‘Account information’ column.
Terms and Conditions of Overnight Deposit Agreement

Overnight deposit interest rates

Deposit amount EUR Annual interest rate
from 30 000 0.516
from 60 000 0.916
from 300 000 1.016
from 1 000 000 1.216
from 2 000 000 1.416

Changed 03.12.2024 18:00:18

Interest rate is presented on a basis of accounting year (360 days). Interest is calculated for the actual deposit days.
Deposit amount USD Annual interest rate
from 100 000 0.440
from 1 000 000 0.940
from 2 500 000 0.940
from 5 000 000 1.240

Changed 03.12.2024 18:00:18

Interest rate is presented on a basis of accounting year (360 days). Interest is calculated for the actual deposit days.

Saving is the key to your financial sustainability

People with savings are more financially resilient to shocks as unemployment, natural disasters, and unplanned expenses like medical bills or a new rooftop. Being mindful about your consumption may not only reduce your impact on environment but also help you save more.

  1. Set specific saving goals, e.g. safety pillow, vacation, new laptop, etc. This will help monitor progress and assign meaning to saving habits.
  2. Save small amounts routinely to increase your savings. Have at least 3 months of your expenses saved to ensure you can overcome any unexpected challenges.
  3. Save money by choosing products that will last longer. Evaluate the cost per use of each product and choose your purchases wisely.
Saving becomes a habit for many people. Join them and build your financial sustainability. 8 out of 10 Estonians say they recently started saving more on daily basis. Swedbank survey, 2020.

Save instead of wasting

People throw away 20% of food and 43% of clothes they have purchased every year. See how much money you could potentially save if you only consumed as much as you needed.

Monthly spendings

Potential monthly savings

  • 0EUR
  • 0EUR
  • 0EUR

Based on European Environment Agency.
Free investment tutorials, quiz and other useful information. Unlimited free trading and holding. The only saving option that allows you to get income tax relief. All investment possibilities can be used to save money for children. Start by opening a securities account!
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Contacts

SWEDBANK AS
Liivalaia 8, 15040 Tallinn
SWIFT code/BIC: HABAEE2X
Reg. number: 10060701

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This is a website of companies offering financial services – Swedbank AS, Swedbank Liising AS, Swedbank P&C Insurance AS, Swedbank Life Insurance SE, and Swedbank Investeerimisfondid AS. Before entering into any agreement read the terms and conditions of the respective service. Consult a specialist, where necessary. Swedbank AS does not provide a credit advisory service for the purposes of the Creditors and Credit Intermediaries Act. The borrower makes the decision of taking out a loan, who assesses the suitability of the loan product and contractual terms to his/her personal loan interest, need and financial situation on the basis of the information and warnings presented by the bank and is responsible for the consequences related to concluding the agreement.