OREANDA-NEWS. From August 1, 2007 Rietumu Bank commenced calculating interest on current account balances in US dollars and euro with average monthly balance exceeding 50 000 USD or EUR. The interest is paid to all customers of the Bank - private individuals and legal entities, Latvian residents and non-residents, reported the press-centre of Rietumu Bank.

Interest rate of 1% per annum applies to accounts with balances from 50 000 to 99 999 USD or EUR, whereas annual interest rate on balances exceeding 100 000 USD or EUR accounts for ? of average monthly LIBOR.

The Bank also introduced interest calculation on account balances in Russian rubles, with average monthly balance exceeding RUR 1 million, - 1,5% per annum.

Moreover, there have been changes in the procedure of interest calculation on current account balances in LVL: interest rate of 2% per annum applies to the balances exceeding 10 000 LVL, while no interest is paid on balances below this amount.

Interest is calculated once per month according to the results of the previous month.

Please note that from August 1, 2007 the Bank ceased to conclude agreements on short-term deposits - overnights. We kindly request customers who currently have concluded overnight agreements to contact our Customer Deposit Division at +371 7005545.