With regard to the changed interest rate environment, LHV Pank raised the interest rate offered to clients on fixed-term deposits. As of today, the interest rate on a one-year fixed-term deposit is 2%.
The higher deposit interest rates now also apply to deposits with shorter maturities. All fixed-term deposits starting from EUR 500 are more than welcome. View interest rates in more detail: lhv.ee/en/fixed-term-deposit.
According to the CFO at LHV, Meelis Paakspuu, deposit rates are on the rise due to the European Central Bank raising deposit rates, but also due to client expectations. ‘After a long period of time, we are once again seeing clients’ interest in transferring funds held in a regular account to a fixed-term deposit account. Even though we at LHV have been offering positive interest rates on demand funds to our regular clients throughout the economic cycle, it is now more sensible than before for clients to open a fixed-term deposit account in the Internet Bank for idle funds,’ Paakspuu commented.
The deposit can be opened by the LHV client in the Internet Bank in the ‘Growing funds’ section of the menu by selecting ‘Open deposit’ and specifying the appropriate amount and term. LHV is a secure place to keep and grow your funds, as client assets worth up to EUR 100,000 are guaranteed by a state guarantee fund.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. The Group employs more than 860 people. As at the end of October, LHV’s banking services are used by 369,000 clients, the pension funds managed by LHV have 130,000 active clients, and LHV Kindlustus protects a total of 150,000 clients. LHV’s UK branch offers banking infrastructure to 200 international financial services companies, via which LHV’s payment services reach clients around the world.All news