OREANDA-NEWS. November 19, 2007. Rietumu Bank increased interest rates for almost all term deposits in euro, US dollars and Latvian lats, reported the press-centre of Rietumu Bank.

For term deposits in euro the following interest rates apply: for 1 month – 4,20%, for 3 months – 4,70%, for 6 months – 4,85%, for 12 months – 5,10%, for 18 months – 5,20%, for 2 years – 5,30%, for 3 years – 5,45%, for 5 years – 5,60% p.a.

The increase also pertains to interest rates for term deposits in euro with periodic interest repayment, for term accumulative deposits and deposits with interest capitalization: for 6 months – 4,75%, for 12 months – 5,00%, for 18 months – 5,10%, for 2 years – 5,20%, for 3 years – 5,35%, for 5 years – 5,50% p.a.

Interest rates for term deposits in US dollars: for 1 month – 4,85%, for 3 months – 5,10%, for 6, 12 months – 5,20%, for 18 months – 5,30%, for 2 years – 5,45%, for 3 years – 5,70%, for 5 years – 5,85% p.a.

Interest rates for term deposits in US dollars with periodic interest repayment, for term accumulative deposits and deposits with interest capitalization: for 6, 12 months – 5,10%, for 18 months – 5,20%, for 2 years – 5,35%, for 3 years – 5,60%, for 5 years – 5,75% p.a.

For term deposits in Latvian lats new interest rates are as follows: for 1 month – 7,30%, for 3 months – 8,20%, for 6 months – 8,60%, for 12,18 months and 2 years – 8,25% p.a.

Interest rates for term deposits in Latvian lats with periodic interest repayment, for term accumulative deposits and deposits with interest capitalization: for 6 months – 8,50, for 12, 18 months and 2 years – 8,15% p.a.

New interest rates apply only to those term deposit agreements concluded starting with 14 November 2007.

Interest rates for deposits in Great Britain pounds remain unchanged.

We would also like to remind that the Bank improved early redemption conditions for Term Deposit Agreements. In case of early redemption of Term Deposit Agreement with initial maturity up to 1 year, the depositor will get 50% of the accrued interest calculated according to the interest rate in Term Deposit Agreement. No further penalties applied to the principal.
In case of early redemption of Term Deposit Agreement with initial maturity over 1 year, the depositor will get 50% of the accrued interest calculated according to the interest rate in Term Deposit Agreement. In addition, the Bank will charge 0.5% from deposit principal amount as early redemption fee.