Term deposit
A stress-free way to increase savings
It takes just a few minutes to complete the application
- Saldo Bank term deposits
- The deposit term can vary from 1 month up to 120 months
- The minimum deposit amount is 1,000 EUR
How much can you earn?
Deposit in
Contract fee
Right of cancellation
Interest rate up to
Term deposit - what it is?
A term deposit is the process of keeping a specific amount of money in a financial institution for an agreed period of time. The institution pays interest for the time they hold the money. The amount of interest and the payout frequency are determined on the day of signing the deposit contract. Remember that term deposits cannot be terminated until the agreed period of time passes, and no interest will be paid upon early termination.
A term deposit is one of the most reliable ways to generate passive income and to get your money that you set aside for saving working for you. Since the interest rate is agreed in advance, any financial institution is committed to it for the agreed period. This way, your money doesn’t lose value due to inflation or other market changes.
Saldo Bank term deposits have many advantages
Fast registration
Our registration system is extremely fast: you can create an account to open a term deposit at any time of the day.
High interest rates
Saldo Bank provides fixed term deposit interest rates. We offer 3.00% interest rate for 12 months.
No hidden costs
Opening a Saldo Bank term deposit account is completely free - no monthly or annual fees, even if you're not a client yet.
Right of cancellation
You can change your mind and cancel the term deposit within 14 days of signing the contract at no cost.
Insured
Your term deposits are insured by the SC Deposit and Investment Insurance. The total amount of insurance for all your deposits combined is up to €100 000, irrespective of the number of deposits you have. It's important to note that even if you have multiple deposits with Saldo Bank, the total insured amount will not exceed €100 000 as stipulated by the guarantee system.
Fast process
- 1
Create a deposit account
The application is completely automated and online, so you can open a term deposit account directly from our website. The application is open for everyone, even if you are not yet a Saldo customer.
- 2
Verify your identity and sign the deposit agreement
You will be required to verify your identity to ensure a safe process. When you have completed the identification successfully, you can sign the deposit agreement and accept the terms and conditions provided. The deposit agreement specifies the amount, term and interest rate for the term deposit.
- 3
Deposit the money within 10 days
After signing the term deposit agreement, you will have 10 days to transfer the deposit amount to the provided bank account. If the money is not transferred within 10 days, the deposit agreement will be automatically terminated. You can make the transfer from your chosen bank account. Cash deposits are not possible.
- 4
You deposit account has been activated
Your deposit account has now been successfully activated and your investment is growing. The accrued interest and the initial deposit are paid on the last day of the deposit term to your chosen bank account. On the due date you will also have the possibility to start another equally long term deposit period with the same initial deposit but with the updated interest rate for that set date.
Appreciated by many of you
6670 reviews
6670 reviews
Nopea palvelu. Kiitos.
Palvelu erittäin hyvää
hyvin homma pelasi
erittäin hyvä
Selkeä hakemus prosessi
tyytyväinen
erittäin joustava ja nopea
On hyvä palvelu ja nopea
simppeli homma
Helppo ja nopea palvelu.
Term deposit and its conditions
| The term deposit sum can be between €1,000 - €100,000 |
| The maximum amount that you can keep in Saldo Bank term deposit accounts is €200,000 |
| The deposit term can vary from 1 month up to 120 months |
| Accrued interest and the initial deposit is paid on the following bank date of the due date of the deposit. |
| Saldo Bank term deposits are accepted in Euros |
| In some cases, we may ask for additional documents to open a term deposit account |
Interest rate returns
In the table you can find and compare term deposit returns which depend on the deposit amount and period.
| 1-5 months | 6-8 months | 9-11 months | 12-17 months | 18-23 months | 24-35 months | 36-60 months | 1-120 months |
|---|---|---|---|---|---|---|---|
| 2.00 % | 2.50 % | 2.80 % | 3.00 % | 3.00 % | 3.00 % | 3.00 % | 2.50 % |
| €5,000 | €10,000 | €15,000 | |
|---|---|---|---|
| 6 months | €62.50 | €125 | €187.50 |
| 9 months | €105 | €210 | €315 |
| 12 months | €150 | €300 | €450 |
| 18 months | €225 | €450 | €675 |
| 24 months | €300 | €600 | €900 |
Have a question? We answered most of them already.
Cannot find the answer to your question?
Contact usTerm deposit is a financial tool that allows you to keep a specific amount of money in a bank or other financial institution for an agreed period of time, for which the bank or other financial institution pays interest.
This is one of the most stable ways to get passive income and get your money working for you. With term deposits, your money won’t lose so much value due to inflation or other market changes. Irrevocable term deposit can only be cancelled and taken out before term under special circumstances.
A big difference between a term deposit account and a savings account is the fixed term and a fixed interest rate.
A fixed interest rate means that you are guaranteed a specific return on your savings at the end of your deposit and the interest rate will not fluctuate. For savings accounts the interest rates are not fixed and can fluctuate based on the market.
Term deposits also offer higher interest rates in general than savings accounts, since you commit to keep your money on the account for a longer period.
Yes, all term deposits up to €100,000 per person are insured. Note that the limit is per person and not per term deposit agreement.
The shortest term of the term deposit is 1 month, the longest is 120 months.
The minimum term deposit amount is 1,000 EUR and the maximum is 100,000 EUR.
A bank transfer is required to make a deposit at Saldo Bank. Cash deposit is not possible.
You only need to fill out the application, identify yourself and sign the contract remotely on our website. The process of signing the contract is completely remote.
A fixed-term deposit cannot be withdrawn before the agreed maturity date of the deposit.
Accrued interest and the initial deposit are paid on the following bank date of the due date of the deposit.
No, the term deposit cannot be extended but it can be renewed for the same term but with the updated interest rate for that specific day.
Or you can apply for a different term deposit from our website.
After you enter into a term deposit agreement, all information about your deposit, including accrued interest and contracts, will be available on our internet bank.
The process of entering into the contract is completely remote. You can fill out the application, identify yourself and sign the contract remotely on our website www.saldo.com.
The current interest rate for a 12 month term deposit is 3.00%, but interest rates are subject to change.
After signing the term deposit agreement, you will have 10 days to transfer the deposit amount to the provided bank account.
When your deposit expires, the accrued interest is transferred to your account. If the due date is a holiday, the transfer will be made the following bank day.
Prior to term deposit maturity date, turn on the auto-renewal function in Saldo Internet Bank and your term deposit will be renewed automatically for the same term as the original, with the applicable interest rate on the renewal date. You can find auto-renewal and turn on/off at the bottom of general information of your term deposit.
In order to cancel the term deposit that automatically renewed, please open the Saldo Internet Bank and your term deposit account. There you will see a notitication about auto-renewal and an option to cancel the contract. You can cancel the term deposit 1 month after it has renewed.
