Frequently asked questions

A term deposit is a secure way to save money. Your funds are deposited with the bank for a fixed period and earn a fixed annual interest rate determined on the date the deposit agreement is concluded. You can quickly and conveniently open a term deposit through Internet Banking (where you may be eligible for an interest rate bonus) or by visiting a bank branch.

The minimum term deposit amount is 100 in any of the following currencies:

• EUR (euro)
• USD (US dollar)
• GBP (British pound sterling)

Interest begins to accrue on the day following the placement of your term deposit. You can choose how often your interest is paid:

• Monthly
• Quarterly
• Semi-annually
• Annually
• At maturity (when the term deposit expires)

The deposit amount cannot be increased during the term of the term deposit agreement. If you choose to withdraw your deposit before the agreed maturity date, you will receive the full principal amount, but any accrued interest will not be paid.

Yes. All term deposits with Urbo Bankas are protected by the Deposit and Investment Insurance scheme, in accordance with the applicable regulations, up to EUR 100,000 per depositor.

A savings deposit is a flexible way to save money. Unlike a term deposit, you can increase the deposit amount at any time by making additional contributions. You can easily open a savings deposit through Internet Banking or by visiting a bank branch.

The minimum initial deposit is 100 EUR, 100 USD, or 100 GBP. After opening the deposit, you can make additional contributions of any amount at any time

Interest is calculated monthly and credited directly to your savings deposit account on the last day of each month. This allows you to benefit from the compound interest effect, as future interest is earned on both your principal and previously credited interest.

If you choose to withdraw the entire deposit and terminate the agreement before its maturity, no interest will be paid.

The detailed information about the terms and conditions of deposit insurance, cases when deposits are not insured and when restrictions on deposit insurance payouts apply, is provided on the website of the public institution "Deposit and Investment Insurance".

For more information you can read here.