Savings Accounts

Depending on your targets and intentions, you can choose one of two savings accounts types:

1. Savings Account — allows you to transfer part or the whole deposited amount after notifying the bank 7 calendar days in advance.
2. EXTRA Savings Account — allows you to transfer part or the whole deposited amount after notifying the bank 33 calendar days in advance.

Opening a savings account

Savings accounts for AB.LV customers are opened free of charge. A savings account is opened for an indefinite period, i.e. is termless. A separate account is opened for each currency. Accounts in the following currencies are available:

• savings accounts — in LVL, USD, and EUR;
• EXTRA savings accounts — in LVL, USD, EUR, GBP, CHF, and RUB.
  

Benefits of AB.LV savings accounts

1. Receiving an interest yield on the daily balance of the account

   • Interest rateson savings accounts depend on changes in the interbank interest rates and are reviewed by the bank on a monthly basis.
   • Interest on the account balance is accrued daily — the interest rate applied depends on the balance amount.
   • Once a month, on a day you have chosen, the accrued interest is credited to your savings account or current account with AB.LV.

2. Replenishing a savings account from your current account

   • You can replenish your savings account by transferring any amount from your current account with AB.LV.
   • Transfers between a current account and a savings account of one customer are performed free of charge.

3. Transferring funds from your savings account to your current account

   • Sending an advance notification to the bank, the funds transfer from a savings account is free of charge (the period of notification depends on the type of savings account).
   • If necessary, you can request savings account funds to be transferred immediately (the commission fee applied is 1% of the transfer amount, min. EUR 100). In this case the required amount will be transferred from your savings account to your current account within 24 hours after the order is submitted to the bank.

4. Favourable terms offered on financing secured by savings account funds.

5. Fast management of your savings account via remote access system Internetbank AB.LV:

   • opening a new savings account;
   • transferring funds between your current and savings accounts;
   • viewing your savings account balance and interest accrued;
   • possibility to request a savings account report for any required period.