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  Child savings account
A time deposit for accumulation of funds for your child
Child Savings Account is a time deposit for accumulation of funds for your child which provides for your child’s getting the sum and interest accrued when they come of age, i.e. by the age of 18. This type of deposit allows replenishing the deposit account at any time and receiving interest.
The interest accrued is added to the principal sum of the deposit on a yearly basis, interest rate for this type of deposit is not fixed and can be changed by the Bank.
Basic Deposit Terms:
  • Minimum deposit amount – any sum with no limitations
  • Deposit currency – EUR, USD
  • Deposit term – time deposit till the Customer reaches 18
  • Floating interest rate
  • The interest is paid once a year till the Customer reaches 18
  • The deposit amount can be added up in cash or non-cash money
  • Charges for early withdrawal of the deposit – 1% of the sum withdrawn
Entering into Deposit Agreement
An agreement on opening a Child Savings Account can be concluded in any branch of the Bank. The list of documents required to execute this type of deposit is given in General Transactions Rules (Part II, Section 6, Clause 2.3).
Contact Information
For consultations please call (+371) 67 041 100
Norvik Banka is a member of Deposit Guarantee Fund ngf, which means that your deposits placed in Norvik Banka are guaranteed by the state. More information on deposit guarantee system you can find here.