Tax-Free Deposit: Make Your Money Earn More Money

News - November 30, 2010

We have launched a new deposit product titled Tax-Free Deposit. You are kindly offered to set up a special-type deposit account from December 1 through December 30, 2010 to enjoy a higher rate of interest. EURO- and USD-denominated deposits have maturities varying between 1 and 3 years.

From 1 January 2010, Latvia introduced a new 10-percent withholding tax applicable to interest on bank deposits. Our Tax-Free Deposit is specifically designed to enable you to offset a decrease in your income stemming from withholding tax payments and to earn extra money.

At Baltic International Bank, we focus on your financial comfort. Therefore, we have increased a rate of interest applicable to the new deposit -- the rate corresponds to the capital gain tax rate (capital gain tax is a type of tax levied on capital gains, that is the profit gained from the sale of assets). Thus, interest income earned on Tax-Free Deposit is commensurate with that before the introduction of the withholding tax. 

For more information about Tax-Free Deposit and other investment opportunities, please call your private banker.

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