Finnish fintech Saldo Bank launches the term deposit product in Lithuania
In February this year, Finnish fintech Saldo Bank announced the launch of banking operations in Lithuania. Now it’s time for the neobank to launch its first banking service, the term deposit, to the Lithuanian market.
A term deposit is a financial service, where you deposit your money for an agreed length of time and in return you get a higher than market average interest rate on your savings. As a fintech company, Saldo Bank is known for its quick automated online solutions. The newly launched term deposit also offers a fast online registration process, as well as a competitive interest rate.
All the term deposits made at Saldo Bank, up to €100 000, are insured by the European Deposit Guarantee System and give you the option to have two separate deposits, each with different terms.
This is the first product launch of Saldo Bank and at the same time a step in becoming a progressive neobank. At the same time Saldo renewed its brand and design system and added the word Bank into the company name and logo. Saldo Bank continues offering loans to consumers and SMEs customers and will be launching payment cards in the near future.
“We are very proud of our transformation into a neobank and the new term deposit service is an embodiment of this work. Additionally, the term deposit will fill a gap in the market for this type of stable and fully secured investment options, especially with the financial market being very volatile currently,” says CEO Jarkko Mäensivu.
Mäensivu continues by saying that the company is already working hard on the next strategic step, which is passporting the banking license to Finland and Sweden. “ Passporting a banking license requires input and dedication from our entire team. We have been working towards this goal for several years and now we are finally seeing some results. Needless to say, we are very excited about the upcoming launches.”
Saldo Bank currently has several open positions in their global headquarters in Vilnius. The company is continuously looking for talented and passionate tech savvy people to add to their talent pool and help them grow and scale up globally.
About Saldo Bank
Saldo Bank UAB is a specialised bank licensed by the European Central Bank and regulated by the Bank of Lithuania. Saldo Bank offers fully automated lending solutions for consumers and SME customers and term deposit account services for consumer customers. The company's advanced scoring system ensures responsible lending, and its own lending system supports business growth also internationally. Saldo Bank had 35 employees at the end of 2022.
Saldo Bank UAB
+358 50 4000 580