We know Estonia
4.1.2023 | Estonia

Interest rates on fixed-term savings accounts rise to 1.5-2%

Text Mark Taylor
Photo Andrei Chertkov

Interest rates on fixed-term savings accounts rise to 1.5-2%

 

With negative interest rates for a long period of time, the interest rates we all receive on deposits and savings in the bank stood at zero. However, this is beginning to change with all of the major banks in Estonia offering 1.5 per cent or more on fixed-term deposits from this January.

A fixed-term deposit is when you lock away a certain amount of money for a fixed period of time, from one month to a number of years. The longer the money is locked away in the savings account, the higher the interest rate you usually receive.

Swedbank is now offering 1.5 per cent on fixed-term deposits for 1 year (up from 0.01 per cent), SEB 1.55 per cent (up from 0.01 per cent), and Estonian bank LHV 2 per cent (up from 0.05 per cent). Smaller banks in Estonia are offering even better rates, with both Inbank and Holm offering up to 3.5 per cent on 5-year fixed-term deposits.

 

Source ERR  

 

To learn more about this and similar topics
Banking Inbank Interest Rates LHV Saving SEB Swedbank Term Deposits

23.7.2025 | History

Mart Laar’s Book on the Forest Brothers Now Available

Mart Laar’s Book on the Forest Brothers Now Available

Historian Mart Laar’s book, “Forest Brothers: Armed Resistance Behind the Iron Curtain After World War II”, explores the resistance … Read more

4.7.2025 | Estonia

At the Gates of East and West

At the Gates of East and West

High up on the riverbanks, the city of Narva is guarded by the magnificent Hermann Castle, and on the … Read more

11.6.2025 | Estonia

Fly from Tallinn to Madeira 

Fly from Tallinn to Madeira 

airBaltic will launch direct flights between Tallinn and Madeira in October. The new route will operate every Sunday from … Read more

31.5.2025 | Estonia

Life in Estonia: A Complete Guide

Life in Estonia: A Complete Guide

What’s the average shelf-life for an Estonian? How happy are they? How much do they drink, and how safe … Read more

24.5.2025 | Estonia

Easter Affected Spring Tourism Numbers

Easter Affected Spring Tourism Numbers

The statistics published by Statistics Estonia on the number of tourists in March were commented on in several newspapers. … Read more

22.5.2025 | Estonia

This Is What’s up in Estonia

This Is What’s up in Estonia

Estonian population decreased According to Statistics Estonia, on 1 January this year, 1,369,995 people lived in Estonia, which means … Read more

14.5.2025 | Restaurants

New Car-Free Pedestrian Zone in Kalamaja

New Car-Free Pedestrian Zone in Kalamaja

The Krulli Quarter (Krulli kvartal) is located in the Kalamaja district of Northern Tallinn. In 1899, the German industrialist … Read more

13.5.2025 | Estonia

Defense tax to be abolished in Estonia, replaced by other tax increases

Defense tax to be abolished in Estonia, replaced by other tax increases

The Estonian government is canceling the 2% defence tax, which was scheduled to come into effect temporarily from the … Read more