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 suitable to you depends on how much and for how long you wish to deposit your money and how quickly you wish to withdraw money from your deposit. These are the key questions you should ask yourself before opening a deposit.

• In case of term deposits, you deposit your savings for a specific period of time. The longer the deposit period, the higher the interest rate will probably be. It is possible to open a deposit with a term of one week to three years. No additional contributions can be made to the deposit 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 calendar days in advance, the withdrawal is free of charge. If you need your deposit amount before three calendar days have passed, a service fee will apply.

2. In which currency can I open an savings deposit?
You can open an savings deposit in Euros. You cannot open this deposit in any other currency.

3. How large should the first contribution to the savings deposit be?
You can open a 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  to your  savings deposit at an SEB branch free of charge. On subsequent cash deposits and payments to the deposit, a fee will be charged according to the price list. If you are using any of the SEB Plans, the contributions made with standing payment orders will also be free of charge( to you).

4. 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.

5. 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.

6. Have limits been imposed on making contributions to the savings 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.

7. 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.

8. How is income tax charged on interests starting from 1 January 2018?
Starting from 1 January 2018 interest taxation will change. Income tax will be charged on any interest payable to a resident private person and the payer of interest will be required to withhold a 20% income tax upon payment.

9. How is income tax withheld on interests? Can I postpone the tax liability of interest income as well?
If the deposit of a private person who is a resident for tax purposes is tied to a current account, the bank shall withhold income tax on the payment of interest earned on the investment deposit. This applies even if the deposit was opened from an investment account, however by the time of making the interest payment the deposit is tied to a current account.
To postpone the tax liability, you have to open the deposit from the investment account. In addition, upon termination of the deposit, you have to transfer the deposited amount and interest to the investment account.
According to Income Tax Act, in order to postpone the tax liability, the client has to notify the bank that the respective interest was received for the financial assets acquired for the funds in the investment account. You can give such notification at our bank upon opening an investment account for all those financial assets, the income on which you will transfer to the investment account in the future.