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Term deposit

Term deposit

The safest solution for depositing money

  • The deposit term can be 1 week to 3 years
  • The option to extend your deposit automatically

A term deposit is suitable for investing a certain amount of money for a certain period of time from one week to three years. At the end of the deposit term, the bank transfers the deposited amount and interest to the current account specified by you. No additional contributions or withdrawals can be made during the deposit period.

Open a deposit

Characteristics of term deposit

  • You can open a term deposit in euros, US dollars, Swedish kroner and British pounds.
  • The term of a deposit may be one week to three years and you can extend it automatically. No additional contributions can be made during the deposit period.
  • At the end of the deposit period, the bank transfers the deposited amount and the interest earned to the account specified by you.

Automatic extension of deposit term
You can set the condition that your deposit is automatically extended for the same period that was set out in your initial contract. Please keep in mind that the interest rate applicable at the time of extension becomes the new interest of your deposit and the terms and conditions valid at the time of extension are applied to your deposit after extension.
You can always ask the bank not to extend the term of your deposit automatically.

Premature termination of contract
The bank does not pay any interest if you terminate your term deposit contract prematurely. The bank terminates the contract prematurely within three business days as of receiving the relevant request.

The interest rates are informative. The interest rates applied when concluding a deposit agreement may differ from the rates provided herein.

Interest rates valid in the internet bank

EUR

Term deposit EUR
Period of time 100 - 1 999  2 000 - 5 999  6 000 - 29 999  30 000 - 99 999 
7 days           0,00% 
14 days           0,00% 
21 days           0,00% 
1 month           0,00% 
2 months           0,00% 
3 months           0,00% 
4 months           0,00% 
5 months           0,00% 
6 months           0,00% 
7 months           0,00% 
8 months           0,00% 
9 months           0,00% 
10 months           0,00% 
11 months           0,00% 
1 year           0,00% 
2 years           0,00% 
3 years           0,00% 

USD

Term deposit USD
Period of time 200 - 1 999  2 000 - 7 999  8 000 - 39 999  40 000 - 99 999 
7 days           0,00% 
14 days           0,00% 
21 days           0,00% 
1 month           0,00% 
2 months           0,00% 
3 months  0,05%  0,05%  0,10%  0,10% 
4 months  0,05%  0,05%  0,10%  0,10% 
5 months  0,05%  0,05%  0,10%  0,10% 
6 months  0,10%  0,10%  0,15%  0,15% 
7 months  0,15%  0,15%  0,20%  0,20% 
8 months  0,20%  0,20%  0,25%  0,25% 
9 months  0,25%  0,25%  0,30%  0,30% 
10 months  0,30%  0,30%  0,35%  0,35% 
11 months  0,35%  0,35%  0,40%  0,40% 
1 year  0,40%  0,40%  0,50%  0,50% 
2 years  0,45%  0,45%  0,50%  0,50% 
3 years  0,70%  0,70%  0,75%  0,75% 

SEK

Term deposit SEK
Period of time 2 000 - 14 999  15 000 - 59 999  60 000 - 299 999  300 000 - 599 999 
7 days           0,00% 
14 days           0,00% 
21 days           0,00% 
1 month           0,00% 
2 months           0,00% 
3 months           0,00% 
4 months           0,00% 
5 months           0,00% 
6 months           0,00% 
7 months           0,00% 
8 months           0,00% 
9 months           0,00% 
10 months           0,00% 
11 months           0,00% 
1 year           0,00% 
2 years           0,00% 
3 years           0,00% 

GBP

Term deposit GBP
Period of time 100 - 999  1 000 - 4 999  5 000 - 24 999  25 000 - 49 999 
1 month           0,00% 
2 months           0,00% 
3 months  0,25%  0,25%  0,30%  0,30% 
4 months  0,30%  0,30%  0,35%  0,35% 
5 months  0,30%  0,30%  0,40%  0,40% 
6 months  0,40%  0,40%  0,45%  0,45% 
7 months  0,45%  0,45%  0,50%  0,50% 
8 months  0,50%  0,50%  0,55%  0,55% 
9 months  0,55%  0,55%  0,60%  0,60% 
10 months  0,60%  0,60%  0,65%  0,65% 
11 months  0,65%  0,65%  0,70%  0,70% 
1 year  0,70%  0,70%  0,75%  0,75% 
2 years  0,70%  0,70%  0,75%  0,75% 
3 years  0,70%  0,70%  0,75%  0,75% 

Interest rates valid at the branches

EUR

Term deposit EUR
Period of time 100 - 1 999  2 000 - 5 999  6 000 - 29 999  30 000 - 99 999 
7 days           0,00% 
14 days           0,00% 
21 days           0,00% 
1 month           0,00% 
2 months           0,00% 
3 months           0,00% 
4 months           0,00% 
5 months           0,00% 
6 months           0,00% 
7 months           0,00% 
8 months           0,00% 
9 months           0,00% 
10 months           0,00% 
11 months           0,00% 
1 year           0,00% 
2 years           0,00% 
3 years           0,00% 

USD

Term deposit USD
Period of time 200 - 1 999  2 000 - 7 999  8 000 - 39 999  40 000 - 99 999 
7 days           0,00% 
14 days           0,00% 
21 days           0,00% 
1 month           0,00% 
2 months           0,00% 
3 months  0,05%  0,05%  0,10%  0,10% 
4 months  0,05%  0,05%  0,10%  0,10% 
5 months  0,05%  0,05%  0,10%  0,10% 
6 months  0,10%  0,10%  0,15%  0,15% 
7 months  0,15%  0,15%  0,20%  0,20% 
8 months  0,20%  0,20%  0,25%  0,25% 
9 months  0,25%  0,25%  0,30%  0,30% 
10 months  0,30%  0,30%  0,35%  0,35% 
11 months  0,35%  0,35%  0,40%  0,40% 
1 year  0,40%  0,40%  0,50%  0,50% 
2 years  0,45%  0,45%  0,50%  0,50% 
3 years  0,70%  0,70%  0,75%  0,75% 

SEK

Term deposit SEK
Period of time 2 000 - 14 999  15 000 - 59 999  60 000 - 299 999  300 000 - 599 999 
7 days           0,00% 
14 days           0,00% 
21 days           0,00% 
1 month           0,00% 
2 months           0,00% 
3 months           0,00% 
4 months           0,00% 
5 months           0,00% 
6 months           0,00% 
7 months           0,00% 
8 months           0,00% 
9 months           0,00% 
10 months           0,00% 
11 months           0,00% 
1 year           0,00% 
2 years           0,00% 
3 years           0,00% 

GBP

Term deposit GBP
Period of time 100 - 999  1 000 - 4 999  5 000 - 24 999  25 000 - 49 999 
1 month           0,00% 
2 months           0,00% 
3 months  0,25%  0,25%  0,30%  0,30% 
4 months  0,30%  0,30%  0,35%  0,35% 
5 months  0,30%  0,30%  0,40%  0,40% 
6 months  0,40%  0,40%  0,45%  0,45% 
7 months  0,45%  0,45%  0,50%  0,50% 
8 months  0,50%  0,50%  0,55%  0,55% 
9 months  0,55%  0,55%  0,60%  0,60% 
10 months  0,60%  0,60%  0,65%  0,65% 
11 months  0,65%  0,65%  0,70%  0,70% 
1 year  0,70%  0,70%  0,75%  0,75% 
2 years  0,70%  0,70%  0,75%  0,75% 
3 years  0,70%  0,70%  0,75%  0,75% 

 

Terms and Conditions

DEPOSITOR INFORMATION SHEET

Basic information about guaranteeing deposits
Deposits in SEB Pank are protected by: the Deposit Guarantee Sectoral Fund
Limit of deposit guarantee

100,000 euros per depositor in SEB Pank

In addition, the sales proceeds of residential real estate of a natural person are guaranteed up to 70,000 euros within 6 months as of the sales transaction.

If you have more deposits at SEB Pank All your deposits at SEB Pank are aggregated. The total amount of your deposits is subject to the limit of 100,000 euros.
If you have a joint deposit with other person(s) The limit of 100,000 euros applies to each depositor separately
Reimbursement period in case of credit institution’s insolvency or other relevant event 7 working days
Currency of reimbursement euro
Contact Guarantee Fund
address: Roosikrantsi 2, Tallinn 10119
Phone (+372) 611 0730
e-mail:
Additional information www.tf.ee
In general, the Deposit Guarantee Sectoral Fund covers all natural persons, ordinary entrepreneurs and other retail depositors. The exceptions applied to certain deposits are listed on the website of the Guarantee Fund at www.tf.ee.
SEB Pank will also inform you on request whether certain financial products are covered or not. If deposits are guaranteed, SEB Pank shall also confirm this also on the statement of account.

 

More detailed information on the investment guarantee conditions and procedure, as well as on investments, not subject to compensation is available on the SEB investor protection page and on the web page of Guarantee Fund

1. Which account is the most appropriate one for me?
We offer three types of deposits: term deposits, savings deposits and investment deposits. Which of them is appropriate for you depends on how much and for how long you wish to deposit your money, and how quickly you wish to withdraw it from your account. These are the key questions you should ask yourself before opening a deposit account.

  • In case of term deposits, we shall deposit your savings for a specific period of time. The longer the deposit period, the higher the interest rate is likely to be. It is possible to open a deposit account with a term of one week to three years. No additional contributions can be made to the deposit account and the deposit amount cannot be used before the end of the term. It is possible to automatically extend the deposit term.
  • The savings deposit is flexible. You can make contributions as frequently as you wish and thus continue to increase your deposit amount. You can withdraw money from the deposit as soon as you need it. If you inform us of your plans to withdraw your money three business days in advance, the withdrawal is free of charge. If you need your deposit amount before three business days have passed, a commission will apply.
  • The investment deposit is suitable for you if you wish to invest your money and seek opportunities to earn a higher income but you are not willing to take on a lot of risk. You invest a specific amount and we guarantee full capital protection in return. The amount of interest earned depends on the changes in the value of the underlying assets tied to the deposit. The investment deposit is a fixed-term investment with capital protection, where the deposit period is generally at least two to three years. The investment account opened by a resident natural person is subject to income tax.


2. In which currency can I open a term deposit?
You can open a term deposit in euros, US dollars, Swedish kroons or British pounds. The interest rate of a term deposit opened in the Internet Bank is higher than the interest rate of a comparable deposit account opened at a branch.

3. How large should the contribution to the term deposit be?
The minimum deposit amount depends on the currency of the deposit. For example, for euros, the minimum amount is EUR 100. More detailed information about the minimum amount is available in the interest rate table.

4. How is interest calculated for term deposits?
When calculating interest, we use a 360-day year and the actual number of days of the transaction. Therefore, we calculate interest from the date of transferring the deposit amount to the account until the end of the term. We fix the level of the interest rate at the time of concluding an agreement with you. Calculation of interest depends on the number of deposit days.

Calculation of interest for one day:


If you wish to know the rate of interest you earn, please multiply the interest for one day by the number of deposit days (NB! We always consider the length of the month to be 30 calendar days, and that of the year – 365 calendar days).

5. What does the automatic extension of a term deposit mean?
When you have selected an automatic extension for a term deposit, we shall automatically extend it at the end of the deposit period by a time period equal to the previous term. You can choose between two extension options.

  • Extension of the term deposit with depositing of interest: upon expiry of the term, we shall transfer the interest calculated for the deposit period to the automatically extended deposit, thereby increasing the amount in the deposit.
  • Extension of the term deposit without depositing of interest: we shall transfer the interest earned for the deposit period to your current account.


The interest rate prevailing at the time of the extension will become the interest rate of the new deposit. If you conclude a term deposit in the Internet Bank, a higher interest rate will also apply to the automatic extension of the deposit.

If you wish to terminate the automatic extension of the term deposit, you can do it in the Internet Bank by changing the conditions of the active deposit or in a SEB branch nearest to you.

6. How can I find the interest rate of the term deposit for the amount that is higher than those shown in the interest rate table?
In such a case, you need to go to the nearest SEB branch.

7. Have limits been imposed on contributions?
No limits have been imposed on making contributions to the deposit. As the transfer to the deposit is made in the Internet Bank, the daily and monthly limits of the Internet Bank will not decrease.

8. How is my deposit guaranteed should anything happen to the bank?
Deposits are guaranteed by the Guarantee Fund, that is willing to compensate for the deposits in the amount of up to EUR 100 000, including interest, per depositor in any one credit institution. More detailed information is available on the website of the Guarantee Fund www.tf.ee.

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