From 1 to 7 June, private individuals and companies can open term deposits with Holm Bank at an annual interest rate of 3%, regardless of the selected deposit period. Deposits can be made flexibly for terms ranging from one month to five years, or from three months to five years for companies.
According to Kaspar Kalvet, CEO of Holm Bank, the bank’s goal is to offer depositors the best deposit interest rate in Estonia. “People and companies in Estonia still hold money in current accounts that they do not need to use immediately. A term deposit is a simple way to put that money to work and earn interest without risk,” he said.
One of the most important advantages of a bank deposit is security. Deposits opened with banks registered in Estonia are protected by the national Guarantee Fund up to €100,000 per depositor per bank. This distinguishes bank deposits from solutions that do not benefit from the same state-backed protection, such as deposits with savings and loan associations.
Kalvet added that, when placing a deposit, it is also worth remembering that opening a term deposit does not have to be linked to a person’s everyday home bank. “Just as people compare home loan offers or insurance terms, it is also worth comparing deposit interest rates. Once savings have already been built up, it makes sense to see where they can earn returns securely and on the best guaranteed terms,” he said.
A term deposit is suitable both for building up smaller savings and for holding a larger amount, for example when saving for a home down payment, after selling real estate, or when planning a major purchase. In the case of a larger amount, the money can be divided across several deposits to maintain flexibility if needed and terminate only part of the deposits.
Holm Bank’s 3% annual interest offer applies to all new term deposits opened from 1 to 7 June.