Junior Deposit is a deposit held by the Depositor, either a private individual or a legal entity, in the name of a young person who has not reached the age of 18 years and who is represented by his/her parents or trustee in the legal relationships with the Bank until the juvenile reaches the age of 18 years.

Besides the depositor, the juvenile’s family members and friends may add money to the Junior Deposit account throughout the term of the Deposit. Thus, it is possible to provide the juvenile with a start-up capital by placing money on a deposit on a regular basis, which is crucial when a young person starts to live independently.

Third parties have no access to the Junior Deposit: the principal and interest will be paid out only to the juvenile when he or she reaches the age of 18 years.

One customer is permitted to hold several Junior Deposit accounts. Interest accrued will be added to the principal on a yearly basis, on the birthday of the juvenile.

Minimum opening deposit:

• Private individuals – LVL 5 000, EUR 10 000, USD 10 000, GBP 5 000;
• Legal entities – LVL 20 000, EUR 40 000, USD 40 000, GBP 20 000.

If you wish to sign the deposit agreement or get more information, please, contact you private banker. Bank’s head office is located at 6 Grēcinieku, Riga, Latvia, telephone +371 67000 444.

Interest Rate