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.

Back to all news
Mastercard

World Business is an elegant and sophisticated payment card for your business.

FIND OUT Arrow blue