OREANDA-NEWS. October 15, 2009. Estonian branch of Parex banka is offering a new type of deposit on the Estonian marked called FLEX deposit. FLEX deposit is a term deposit in EEK that allows Customers to convert the deposit into EUR or USD. It’s also possible to increase the deposit amount up to 50% of the initial sum of the deposit, reported the press-centre of Parex banka.

“FLEX deposit is a unique service in the Estonian marked offered only at Parex Bank. FLEX deposit is an alternative to the regular term deposit allowing Customers to minimize their currency risks by converting their EEK deposit into EUR or USD,” said Sofia Krist, Executive Director, Parex Bank. “The current FLEX deposit EEK annual percentage yield is 8,5%,” she added.

With FLEX deposit Customers can convert the deposit made in EEK into EUR or USD and back into EEK unlimited number of times during the term of the deposit. The EEK rate of FLEX deposit is approved upon the signing of the agreement and does not change during the deposit term.

Another unique feature of the FLEX deposit is that during the deposit term it is possible to increase the deposit amount up to 50% of the initial sum of the deposit. This also can be done unlimited number of times during the deposit term.

FLEX deposit can be opened at Parex Bank’s Client Service Centers and through Parex Online Banking.