The term deposit is an appropriate solution for the client who requires to increase the deposited money steadily and thus needs no possibility to make payments to or from the deposit within the deposit period. Deposit currency can be Estonian Kroon (deposits from 1 to 60 months) or Euro (deposits from 6 to 60 months). Both private persons and legal persons can deposit (the legal person has to be represented by a Member of the Board).
Deposit term
Depending on the wishes of the client 1-60 months. In case on an annual interest payment only a complete year (2, 3, 4 or 5 years).
Deposit sum
The minimum deposit sum of an EEK deposit is EEK 5,000 (319,55 €) and of an EUR deposit 2,000 EUR (except for deposits under 24 months with monthly interest payments, in which case the minimum sum is EUR 10,000).
The deposit sum is not limited (except for deposits with a term of 1 to 5 months, where the maximum possible total deposit sum per client is EEK 20,000 (1 278,23 €)).
Interest payment
- At the end of deposit period (Interest payment for 1-11. month deposits only possible at the end of the deposit period)
- Once a year (in case of a deposits the period of which is 2, 3, 4 or 5 years)
- Once a month (in Estonian Kroons the deposit sum has to be min. 50 000 Kroons (3 195,58 €)).
Opening a deposit
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in order to open a deposit, it is necessary:
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to conclude a contract with the bank
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transfer the deposit amount by the date provided in the conditions of the contract
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concluding the deposit contract is free, but the depositor has to consider the expenses connected to transferring the deposit amount (e.g. the bank's transfer fee, currency conversion fee etc. pursuant to the conditions of the bank used for making the payment)
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it is possible to open a deposit at BIGBANK's Internet bank, service branches or Eesti Post post offices
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income tax is not imposed on profits gained from the deposit
Extending the deposit contract
- In conclusion of the deposit contract the client can specify whether it requires the automatic extension of the deposit. As an exception it is not possible to appoint the automatic extension of the deposit in case of a deposit period from 1 to 5 months. When selecting automatic extension of the deposit, the deposit will be extended at the end of the term with the interest rate valid for extension, which is determined by a directive of the Management Board and is available on the website of the bank.
- If automatic extension of the contract has not been set, the deposit amount and earned interest are transferred to your bank account on the expiry of the deposit period.
- You can also withdraw from the automatic extension of the contract during the deposit period – the submission of the application is sufficient for that purpose.
Terminating the deposit contract
- When entering into a deposit agreement through Internet Bank, the depositor has the right to withdraw from the agreement within 14 days. To do this they must notify BIGBANK of such either through Internet Bank, at any branch or by e-mailing info@bigbank.ee. Along with their intention to withdraw from the contract, the notification must include their name, personal identification code and the date of submission.
- The clients then have their money returned to them within 30 days.
Attention!
Before signing a deposit contract, please read the contract conditions and seek professional advice if necessary.
