Can I receive the interest earned on my term deposit prior to the end of the validity of the contract?

Yes, interest can be paid to you on a monthly basis. This interest payment method can be chosen by signing the term deposit agreement.

How can I terminate term deposits?

All deposits can be terminated:

  • in the internet bank (login to the internet bank, click on „Saving and investment“ and go to „My deposits“, mark the contract you wish to terminate, and click on „Terminate“ button;
  • by calling us +370 5 239 3444
  • by paying a visit to the closest customer service center (book an appointment in advance by calling +370 5 239 3444).

More information about the term deposit conditions can be found here.

How can I cancel the automatic extension of a term deposit?

If you prefer to not extend the validity of a deposit automatically upon the end of its term, you have to choose one of the following:

  • access internet bank and in the top section next to your name choose: „New letter“ and in the „Letter type“ row choose „Free form application“. In this letter you should provide the number of the deposit agreement and request a cancellation of automatic extension status. Confirm the letter with a code generator, mobile signature or Smart‑ID, and send it;
  • you can contact us by calling +370 5 239 3444;
  • you can pay a visit to the closest customer service center (book an appointment in advance by calling +370 5 239 3444).

What interest is applied to automatically extended term deposits?

Deposit interest rate, valid on that day, will be applied for automatically extended deposits. Deposit interest rates can be found here.

What happens with the interest rate if I decide to terminate a term deposit before maturity?

If you decide to terminate a term deposit before maturity, the whole deposit amount will be returned to the current account, however, the interest will not be applied. If you have been paid the interest on the term deposit during the deposit term, the returned amount will be reduced by the amount of the interest that has been already paid.

Whom should I contact if I would like to transfer a large amount of money to term deposit and wish to earn the higher interest?

If the investment sum is bigger than EUR 100,000 or equivalent to this amount in other currency, interest rates provided in Luminor web page are not valid and should be negotiated separately. You should contact us by calling +370 5 239 3444. Your call will be directly transferred to the responsible consultant or relationship manager.

Are the deposits within the bank insured?

Yes, the deposits up to the value of EUR 100,000 are secured by the Estonian Guarantee Fund company “Tagatisfond” in accordance with the terms and conditions of the Republic of Estonia’s law on deposit insurance and insurance of liabilities to investors.

More information about Terms and conditions of insurance can be found here.

During which hours am I allowed to sign a term deposit contract via the internet bank?

You may sign or supplement a deposit contract via the internet bank every day from 00:01 a.m. to 10:00 p.m.

Is it possible to withdraw only a certain amount of term deposit?

There is no possibility to withdraw a certain amount of term deposit. However, if you wish to withdraw the money from the term deposit, you must terminate the contract. If you withdraw the deposit earlier before the ending date, the interest rate for the storing period of the term deposit will not be paid.

How much time does it take for the money to be returned after the termination of the term deposit?

Usually the money is being returned immediately, but no later than in the next 7 working days after submitting your request.

Where can I find the information about my deposits and interest in the internet bank?

In the internet bank you can find the information about your deposit and interest when clicking on „Saving and investment“ at the top menu bar and then choosing „My deposits“.

What is the interest rate of the deposit?

Deposit interest rates can be found here.

Where can I check whether the term deposit will be automatically extended?

In order to find out whether the term deposit will be automatically extended, in the internet bank at the top menu bar you have to click on „Saving and investment“, go to „My deposits“, and select the deposit you wish to review. Then, in the row „Automatic extention“ it will be indicated if the deposit will be extended automatically or not.

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