04.10.2023
In line with the current interest rate environment, LHV Pank has increased the interest rate offered to clients on fixed-term deposits. From today, the interest rate on a one-year fixed-term deposit is 4.5%.
According to Juhan Peet, Head of the Treasury at LHV, the increase in interest rates was driven by the recent increase in the European Central Bank’s base interest rates and strong competition in the deposit market. ‘Client interest in fixed-term deposits is unprecedented – for example, as a result of the increased interest rates, the volume of fixed-term deposits at LHV has now exceeded one billion euros, and we can use this money to give loans to Estonian people and companies,’ said Peet.
Interest rates for shorter deposit terms were also increased – for example, the interest rate for a 3-month deposit is now 3.75% per year, while the annual interest rate for a 6-month deposit is 4.1%. All fixed-term deposits starting from EUR 100 are more than welcome. View interest rates in more detail: lhv.ee/en/fixed-term-deposit.
LHV clients can open a deposit in the Internet Bank under 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 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, LHV Kindlustus, and LHV Bank Limited. The Group employs over 990 people. As at the end of August, LHV’s banking services are used by 403,000 clients, the pension funds managed by LHV have 127,000 active clients, and LHV Kindlustus protects a total of 160,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the UK and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.
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