Rietumu Banka has significantly increased interest rates across all types of US dollar deposits.
The higher deposit rates complement Rietumu Banka’s targeted development of its US dollar services. Earlier this year, Rietumu Banka established direct correspondent banking relationships with Deutsche Bank, enabling clients to make direct payments in US dollars.
For clients’ convenience, Rietumu Banka offers a wide range of deposits in different currencies, with terms ranging from one month to five years. These include deposits with interest payable on maturity, deposits wits periodic interest repayment, deposits with interest capitalisation, as well as accumulative deposits.
“A broad range of deposit products gives our clients the opportunity to diversify currency risks and generate stable and predictable returns. Deposits are increasingly used not only by individuals but also by businesses to optimise cash flows and generate additional returns on excess funds. At the same time, the US dollar remains one of the world’s major reserve currencies and continues to be in strong demand amid geopolitical uncertainty,” comments Dmitrijs Krilovskis, Vice President of Rietumu Banka.
The minimum deposit amount is USD 5,000 or the equivalent in another currency.
The new deposit rates are available in the Deposit section of the bank’s website.