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Savings deposit

Savings deposit

Convenient and flexible option for depositing spare money

  • The number of times you can pay money into and withdraw it from the deposit is unlimited
  • The first payment is not mandatory
  • Automatic transfer from current account

Starting from 8 November 2016 we offer new savings deposits to private clients only.

An savings deposit is a safe way to save money for unexpected expenses, as you can always add money to the deposit and it can be easily withdrawn. One-off and regular payments can both be made to savings deposits.

You can pay money into an savings deposit and withdraw it at branches or in the Internet Bank.

You can pay money into the deposit at any time by transfer or in cash.

Withdrawals from the deposit are made on the basis of your instructions on the third banking day after the acceptance of your instructions. Such withdrawals are free of charge. Withdrawal of money on the same day when the instructions are received is subject to a charge. 

We calculate interest on savings deposits every day at the rate established by the bank.
We pay you interest once a month. We pay out the interest if it amounts to at least the minimum amount determined by the bank. The payment is postponed until the next month if the amount is smaller.

Automatic depositing
You can set a deposit limit on the current account tied to your savings deposit. The bank automatically transfers all amounts that exceed the deposit limit by the amount determined by the bank to your savings deposit.

Automatic depositing is free of charge. 

Valid since 01.11.2017
Interest rates are variable and will be quoted daily.

Savings Deposit
Annual interest of Savings Deposit EUR 0,01%

 

Terms and Conditions

Minimum amounts established by the bank*:
Minimum first payment: 0
Minimum amount for automatic depositing: 10 EUR
Minimum amount of interest paid out: 1 EUR
* The bank reserves the right to change the minimum amounts.

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. How large should the first contribution to the savings deposit be?
You can open an savings deposit without making any contributions to it. You can make the first contribution later, at the time and in the amount of your choice. You can make the first contribution and subsequent ones to your savings deposit at a SEB branch free of charge. If you are using some SEB Plans, the contributions to be made with standing payment orders are also free of charge to you.

2. What are the options to make contributions to the savings deposit?
The most convenient way is to use automatic depositing or standing payments orders. You can activate automatic depositing upon concluding an agreement or later, upon changing the agreement in the Internet Bank. While for automatic depositing we transfer an amount in excess of the limit set for the current account from your current account to the savings deposit every evening, for standing payment orders, you can determine yourself the amount to be transferred to the deposit. If you have joined a SEB Plan, the standing payment orders are free of charge to you. The easiest way to open both services is in the Internet Bank.
You can also make contributions independently to your savings deposit at any time, by making a money transfer or cash payment through the Internet Bank or at a branch.

3. What does automatic depositing mean?
Automatic depositing is an automatic transfer: you can set the limit to your current account. We will automatically transfer the amount in excess of the limit to your deposit every evening. You can activate this service upon concluding an agreement or subsequently, upon changing the agreement.

4. Have limits been imposed on making contributions to the savinfs deposit in the Internet Bank?
No limits have been imposed on making contributions to the deposit. The transfer to be made to your savings deposit will not lower your daily or monthly limit of your current account in the Internet Bank.

5. 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 at any one credit institution. More detailed information is available on the website of the Guarantee Fund www.tf.ee.

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