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.