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Information about deposits

Frequently asked questions

  • What deposits does Swedbank offer companies?
    Term, overnight and savings deposits.
  • Why deposit in Swedbank?
    Swedbank will remain a reliable partner for many years. We offer a range of deposits. We will come up with the terms that suit you.
  • What deposit periods does Swedbank offer?
    Depending on the amount and the deposit type, you can deposit your money for periods from 2 days up to 5 years. One company can have several different deposits.
  • What is a term deposit?
    A term deposit means you can watch your money grow without there being any risks involved. We pay you a certain amount of interest for the deposit period. We offer deposit periods from 2 days up to 5 years. The interest earned is transferred to your current account either at the end of the deposit period or on a monthly basis. The latter is a good way of earning extra money.
  • What is a term e-deposit?
    A term deposit entered into via the Internet bank is an e-deposit. It is more profitable than a term deposit entered into at a branch. You earn more income on deposits opened in euros.
  • What is a savings deposit?
    A savings deposit is a way of saving money and gathering it flexibly for larger investments or projects. All you need in order to open a deposit is 6 EUR, and you can add money and use what you have deposited whenever you need to.
  • What does automatic extension of a deposit mean? Will the income I earn from my previous deposit carry over?
    Your deposit contract is extended by the same term if you select automatic extension of your deposit. The interest rate and terms and conditions of the contract effective at the moment of extension form its basis. You can amend the extension term at any time. You can also specify whether you want to extend the deposit with the income you have earned from it or just the principal amount. Both term and savings deposits can be automatically extended.
  • If I have a term deposit, is it extended automatically as an e-deposit?
    The current interest rate for e-deposits does not apply to term deposits opened prior to 4 September 2008, which extend automatically after the expiry of the deposit term. The deposit is extended at the ordinary term deposit interest rate that is valid at the time. You should wait until the end of the deposit term in order to earn as much as possible. Enter into a new contract for a term e-deposit via the Internet bank after your current deposit expires.
  • How can I enter into a deposit contract?
    The easiest way of entering into a deposit contract is via the Internet bank. This only takes a few minutes. Select your preferred deposit type from the “Deposits” menu in the internet bank. Fill in the required fields and read the deposit terms, then agree with them in order to enter into the contract. You can also open deposits at your nearest branch or with the assistance of your client administrator.
  • How can I cancel a deposit?
    Clients can cancel their term deposits and savings deposits early at any time by terminating the deposit contract in the Internet or Telephone Bank or at any branch of the bank. If a client terminates their contract before the expiry of the deposit term, the bank has the right to transfer the deposit amount to the client’s account within 7 days of receipt of the cancellation application. The client may specify a later deadline for cancellation. The bank has the right to demand and the client must pay the charge set out in the bank's price list if the client would like to receive the deposit amount on the day the contract is cancelled. The bank withholds the income already paid out and the overdraft amount used by the client from the deposit amount transferred to the client’s account.
    Cancelling an investment deposit before the sales deadline is free of charge. However, if you wish to cancel during the term of the deposit, you will have to pay a fee equal to a certain percentage of the deposit amount. If you have earned any income up to the point at which you cancel the deposit and it is larger than the cancellation fee, the balance is yours to keep. For example, if the interest rate at the moment of cancellation is 15% and the cancellation fee is 7%, you receive the remaining 8%. The less time there is until the end of the term, the smaller the cancellation fee

Overnight deposit

Benefits of overnight deposits for your company:

  • Risk-free
    we guarantee certain income.
  • Maximum liquidity
    we transfer your money to the deposit at the end of each day and the amount including interest will be transferred back to the current account of your company first thing the next morning.
  • Simple
    in the case of automatic overnight deposits, we check the account balance of your company at the end of every day and make the transfers according to the contract.
  • Easy
    if you wish, you can enter into the contract for one-off overnight deposits in the Traderoom environment.

Interest and currencies of overnight deposits

We open overnight deposits in three currencies (EUR, SEK, NOK). Each currency is tied to a certain type of base rate. The interest rate depends on the current interest rates on the money market and therefore may differ on a day-to-day basis.

Term deposit

Benefits of term deposits for your company

  • Risk-free
    we guarantee certain income.
  • Profitable
    we pay more interest than we do on current accounts. The longer the term of the deposit and the larger the deposited amount, the more interest you earn.
  • Flexible
    we offer various terms, currencies and amounts.
  • Easy
    you can enter into the contract quickly and easily in our Internet bank.
  • Simple
    the money is transferred to the current account indicated in the contract when the term expires. If you opt for automatic extension when you open the deposit, it will be extended after the expiry of its term with the interest rate effective at the moment of extension.

Interest rates and currencies of term deposits

We open deposits in eight currencies (EUR, USD, GBP, CAD, SEK, NOK, AUD). We pay out the interest at the end of the term or monthly, as requested by you. The interest rate on euro deposits is up to 0.1% higher if you open the deposit in the Internet bank.

Savings deposit

Benefits of savings deposits for your company:

  • Maximum flexibility
    you can make additional payments into the deposit at any time and in any amount suitable for your company on the basis of the dynamics of its turnover.
  • Risk-free
    we guarantee certain income on the deposited amount.
  • Profitable
    we pay more interest than we do on current accounts.
  • Supports goals
    ideal for saving capital for an investment or project, because you can open the deposit with just 6 euros or 100 US dollars. The term of the deposit is 6, 9 or 12 months.

Compensation of deposits

Deposits of up to 100 000 euros are guaranteed to the extent of 100% per depositor in any one credit institution. Deposits are compensated with the interest earned by the day the deposit is stopped, but no more than the established limit. This means that an amount deposited in any bank registered in Estonia, incl. Swedbank, is fully guaranteed by the state to the extent of said amount.

Further information about the procedure, payment and deadlines of compensation can be found on the homepage of the Guarantee Fund.
Due to negative interest rates applied by the European Central Bank to deposits, the bank does not currently open deposits in euro currency for legal entities.

Types of deposits

Savings deposit

From 6 euros, from six months.

Term deposit

From 190 euros, from three months.

Overnight deposit

From 100 000 euros, from 1 night.

Advantages

  • Useful
    Different deposits offer you different earning options.
  • Risk-free
    Your investment is 100% guaranteed at the end of the deposit period.
  • Flexible
    Swedbank offers various terms, currencies suitable for your company on the basis of the dynamics of its turnover.
  • Compensation of deposits
    The state guarantees that 100% of the deposit is compensated, but no more than 100 000 euros per depositor in any one bank.
    What does it mean for the depositor?

Saving tips

  • Both the short-term management of cash flow and long-term financial planning help to ensure the availability at the right time of the resources needed for the operations and development of a company.
  • Your company’s everyday financial management must provide the financial resources for your organisation’s primary operations and support your operations, investments and growth.
  • Taking into account the needs of your organisations, the management of liquidity must adapt investments and borrowings over time.
  • The main goal of proper liquidity management is to minimise financing costs while maximising financial revenue.
  • You should select the best investment instrument or group liquidity management solution based on the needs and objectives of your company.
  • We offer working capital management solutions which will help your company save time and automate your processes, thereby reducing the need for working capital.
  • The best liquidity management options are a group account, an interest compensation solution and short-term investments: overnight and term deposits, funds and debt securities.
  • We offer a range of automated payment collection solutions and payment solutions for suppliers for the efficient management of working capital.

Frequently asked questions

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Kind regards,
Swedbank