OREANDA-NEWS  On 06 November was announced, that Balti Investeeringute Grupi Pank (BIG) will raise the interest rate of a temporary deposit of one year up to 9% on Tuesday, October 28, which is the best productivity of temporary deposit among Estonian banks.

BIG offers the 9% productivity to the kroon deposits with the period of one year. Other interest rates of kroon deposits and Euro deposits are left to the old level, and depend on the amount of money that is deposited, selected currency, and the way of interest disbursement.

Kaido Saar, a member of the Management Board of BIG, says it is an answer to other banks who have announced to raise interests, as the strategy of BIG is to offer the best productivity of a year among Estonian banks. “First and foremost, the depositors win from the deposit interest race of previous weeks. More and more, the offered interest rate is decisive for clients when depositing, as the bank deposits are secured 100% up to the sum of 50,000 Euros in Estonia,” noted Saar. 

Another important client group for BIG are depositors, who disperse their deposit portfolio over 50,000 Euros between several financial institution, to manage risk.

The interest of a temporary deposit is free of income tax and the deposit sums are nationally secured up to 50,000 Euros (782,330 kroons) according to the decision the Estonian Government on October 9th, and to the amendment of the Guarantee Fund Act of the Parliament of Estonia on October 23rd. To deposit in BIG one does not have to be previously a client of BIG nor open a bank account in BIG.

The deposit period of temporary deposits in BIG is from one month to five years. The minimum deposit sum in case of the kroon deposits is 5,000 kroons, and in case of Euro deposits it is 10,000 Euros. The deposit contracts can be concluded in BIG’s Internet Bank and in all offices of BIG. The deposit conditions of BIG have been brought out in detail on BIG webpage www.big.ee.