BlueOrange Bank

Best offers of BlueOrange Bank from Latvia

Welcome Bonus up to €100
0.85
%
AER
1 year | EUR
  • Protected up to an equivalent of €100,000

All Term Deposit offers from BlueOrange Bank

Interest rate Term Currency
0.55 % AER
6 months EUR
0.85 % AER
1 year EUR
1.00 % AER
2 years EUR
1.14 % AER
3 years EUR

About BlueOrange Bank

BlueOrange Bank was founded in 2001 and is headquartered in Riga, the capital of Latvia. BlueOrange focuses on modern, user-friendly banking combined with individual service. BlueOrange aims to be the first to respond to changes in international business in order to offer its clients the most effective and advanced banking products.

The bank is the ninth largest bank in the country in terms of assets under management and its main clients are companies engaged in international trade or acting as holding companies. BlueOrange has a core capital ratio of 14.61% and a total capital ratio of 20.01% (as at 30 June 2017).

The Latvian Deposit Protection Fund guarantees the security of deposits up to the equivalent of EUR 100,000 per customer.

With BlueOrange you can open and manage your deposit(s) 100% online.

Offer details

Effective rate
0.85 % AER
Nominal rate
0.85 % AER
Term
1 year
Availability
At maturity
Interest payout
At maturity
Interest taxation
At maturity
Deposit guarantee
100 % Deposit guarantee Latvia
Currency
EUR
Min/Max investment amount
20,000 – 100,000  EUR
Prolongation
An automatic renewal, including reinvestment of interest, is initiated if you do not deactivate the automatic renewal up to 5 days before the end of the term.
Withholding tax
Standard Latvian witholding tax of 20% applies on savings deposits held at BlueOrange Bank. This can easily be lowered to 10% by providing BlueOrange with a Certificate of Tax Residency from Revenue.ie as well as an additional residence certificate which we will send to you. These will need to be submitted 2 months in advance of maturity and are valid for 5 years.
Additional documents
An electronic order in online banking is sufficient for opening and renewing the account.

Security and deposit guarantee

Latvia, located in the centre of the Baltic States, is a parliamentary democracy that has been independent since 1991. It has been a member of the European Union (EU) since 2004 and part of the euro zone since 2014. The Latvian economy is characterised by a high level of business friendliness, which is also reflected in a large number of successful start-ups, particularly in the capital Riga. Latvia’s economic growth is stable and its public debt, at 37.9% of GDP (as of 2016), is very low by European standards. Culturally, Latvia stands out for its strong Northern European influences, Hanseatic architecture and its famous music folklore.

Deposits of up to EUR 100,000, including interest income, are legally protected at 100% per customer and per bank by the Latvian Deposit Protection Fund. This security applies naturally also to investors from Germany.

Throughout Europe, the minimum requirements for the legally guaranteed deposit guarantee have been further developed for years (EG Directives 1994/19/EC, 2009/14/EG and 2014/49/EU) in order to improve investor protection in the European Union: since July 2015, it has been gradually implemented in all EU member states.

Tax process and documents

Standard Latvian witholding tax of 20% applies on savings deposits held at BlueOrange Bank. This can easily be lowered to 10% by providing BlueOrange with a Certificate of Tax Residency from Revenue.ie as well as an additional residence certificate which we will send to you. These will need to be submitted 2 months in advance of maturity and are valid for 5 years.

An electronic order in online banking is sufficient for opening and renewing the account.