Frequently asked questions

1. HOW CAN I OPEN A DEPOSIT?

To open a deposit, enter our self-service and follow the instructions there. If you have agreed to the terms of the self-service agreement, please fill in the deposit agreement application and sign the deposit agreement. All this can be done electronically in self-service. If you have any questions, please contact our customer support (Mo-Fri 8 AM – 6 PM, Sat 10 AM – 4 PM, info@holmbank.ee, +372 675 5055).

2. WHAT DO I HAVE TO DO TO VERIFY MY IDENTITY?

We mostly identify our customers electronically with an ID-card, mobile-ID or Smart-ID.

Physical identification shall only be required if the deposit amount plus the interest earned is at least EUR 15,000. This can be done at the office of our partner Omniva within 7 days after signing the deposit agreement. You will have to bring your identity document with you. This is a one-time procedure that you do not need to repeat in the future (e.g. when opening your next deposit).

3. HOW TO TRANSFER MONEY TO A DEPOSIT?

Upon signing the deposit agreement, we will display you pre-filled payment order in the self-service, containing all the necessary data for making the transfer. Transfer the deposit amount to your Holm Bank account using your customer account number as the reference number. It is important to keep in mind that the payment must be received from your personal bank account at another Estonian bank and the payment deadline is 7 days from the conclusion of the deposit agreement.

4. WHAT IS A CUSTOMER ACCOUNT?

A customer account is your account at Holm Bank with a personal reference number, which is used for transactions between you and the bank. NB! A customer account is not a current account and cannot be used for other everyday banking transactions.

5. WHERE WILL THE MONEY BE TRANSFERRED AT THE END OF THE DEPOSIT PERIOD?

The money will be transferred to your customer account at Holm Bank at the end of the deposit period. You can transfer the money on your customer account to your current bank account at another bank at any time or use it to open a new deposit.

6. FOR WHICH PERIOD WILL THE DEPOSIT BE EXTENDED IN CASE OF AUTOMATIC EXTENSION?

In case of automatic extension of the deposit agreement, the deposit will be extended for the same period as that of the original agreement.

7. WHAT IS THE INTEREST RATE AT WHICH THE DEPOSIT WILL BE EXTENDED IN CASE OF AUTOMATIC EXTENSION?

In case of automatic extension of the deposit agreement, the new deposit period will be subject to a new interest corresponding to the current interest rate of Holm Bank on the first day of the new deposit period.

8. WHO CAN OPEN A DEPOSIT?

A deposit can be opened by a natural person who is a resident of Estonia and who is at least 18 years old. At the moment, deposits at Holm Bank cannot be opened on behalf of third parties (including children and legal entities). It is also not possible to make transfers to deposits opened on behalf of others (for example from one’s account to a spouse's deposit or from a business account to a personal customer account).

9. ARE THE DEPOSITS AT HOLM BANK SAFE?

Deposits opened at Holm Bank are protected by the national Guarantee Fund’s Deposit Guarantee Fund. Deposits as well as interests are reimbursed, but no more than EUR 100,000 per depositor. Find out more on the depositor's information sheet, which you will find here.

10. DO YOU HAVE TO PAY INCOME TAX ON DEPOSIT INTEREST?

The bank will withhold the income tax on the interest on the deposit and will transfer it to the Tax and Customs Board for you. It is possible to postpone the payment of income tax on the interest earned if you use a personal investment account opened at another bank to make a transfer of funds, and if you notify us by mentioning in the conditions of the deposit agreement that you have a legal basis for not withholding the income tax on deposit interest. Holm Bank itself does not open investment accounts.

Mon-Fri 8.00-18.00
Sat 10.00-15.00

Holm Bank AS
Posti 30, 90504 Haapsalu; Pärnu mnt. 158/1, 11317 Tallinn
Commercial Register code: 14080830
Date of decision granting activity licence: 02.04.19
Data protection official: andmekaitse@holmbank.ee

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