BLUE ORANGE- FIXED RATE BOND 1 YEAR
| 1/6 | This number is indicative of the risk of the product, being 1/6 indicative on lower risk and 6/6 of higher risk. | Entity attached to the Latvian Deposit Guarantee Fund. The fund guarantees deposits on money up to 100.000€ per owner and entity. |
MAIN FEATURES:
- Account type: Fixed Rate Bond
- 1 Year fixed term deposit
- Interest Rate (EAR): 0.85%
- Deposit: Min. 20.000€ – Max. 100.000€
- No Customer Service in English
- 100% Protected by The Deposit Guarantee Fund (FGD)
BASICS
Account type | Fixed Rate Bond – Personal |
Interest Rate (AER) | 0.85% |
Interest Payment | After maturity |
Changes on AER | Fixed rate |
Customer Service in English | No |
Fees | 0€/month |
Currency | Euro |
Online Management | Yes, through Raisin Platform |
| Fiscal Retention | The standard withholding of interest generated by deposits in Latvia is 20%, but due to double taxation agreements between Latvia and Spain, there is the possibility of reducing this withholding up to 10% if customers present a Certificate of Fiscal Residence issued by the Tax Agency (between 1 year and up to 4 weeks before the expiration date) |
| Renewal | A renewal will begin automatically that includes the reinvestment of interest, unless you deactivate the automatic renewal up to 5 days before the end of the term. |
| Application | On-line. The opening and renewal of the savings account can be done through the Raisin Electronic Platform. Read more about Raisin on the “About the Supplier” tab above. |
Deposits with BlueOrange are protected by the Latvian Deposit Insurance Fund up to 100.000€ per customer and banking institution. Within the European Union, the minimum amounts guaranteed by the Deposit Guarantee Funds have been harmonized by EU Directives 1994/19 / EC, 2009/14 / EC and 2014/49 / EU.
REQUIREMENTS
Contract method | Online, through Raisin Platform. |
Minimum age | 18 |
Required documentation | NIE/Passport, Phone number. Other documentation might be requested upon application. |
BlueOrange Bank was founded in 2001 and is based in Riga, capital of Latvia.
It is the ninth largest bank in Latvia in terms of assets under management. BlueOrange has subsidiaries in Estonia, as well as in Moscow, London and Limassol (Cyprus).
The Bank’s main clients are companies engaged in international trade or acting as holding companies. BlueOrange has a basic capital ratio of 14.61% and a total capital ratio of 20.01% (as of June 30, 2017).
The Deposit Guarantee Fund of Latvia guarantees the equivalent of 100.000€ per customer.
ABOUT RAISIN
Raisin was established in Berlin in 2013 and has quickly grown to become one of the most successful technology led financial services companies in Europe. In recent years, Raisin has attracted 200 million USD from investors such as PayPal, Thrive Capital, Index Ventures, and Ribbit Capital.
Raisin, which serves over 220,000 savings customers across Europe. Today, Raisin UK has one aim; to help UK customers save time and make money through our savings marketplace.
They provide savers with an easy way to apply for and manage savings products from a variety of partner banks which are guaranteed by the European Deposit Guarantee Scheme (DGS). All savings products on Raisin are protected up to an equivalent of 100.000€ per depositor and bank according to EU laws.
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