The movements in the deposit market by the Latvian bank BluOr Bank have not been limited to the terms of 6 and 12 months, where it has raised the remuneration to 4.11 and 4.21 percent, respectively.
It has also done the same for the 9-month period, which also reaches an interest rate of 4.11 percent.
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In this way, the bank known as the bank of small savers, because it allows you to contract your deposits from €1, comes to lead the profitability in this term, surpassing the Portuguese bank Haitong, which pays 3.81 percent for its taxation. .
Haitong requires a minimum amount of 10,000 euros to invest in this product and its Spanish branch applies Spain’s standard withholding of 19 percent.
There are already deposits at more than 4% in almost all available terms
With the Latvian bank marking the ceiling of 9-month profitability at 4.11 percent, savers already have deposits above 4 percent in almost all available terms.
Only at 3 months, 7 years, 8 years and 10 years, there is no deposit that reaches that remuneration. On the other hand, from 6 months to 5 years there are deposits with more than 4 percent profitability.
If 30,000 euros are invested in the 9-month BluOr Bank deposit, the return obtained at maturity is close to 1,000 euros.
In case of allocating the maximum amount allowed to this deposit, that is, 100,000 euros, the profits would amount to 3,000 euros.
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Earnings of €150 if €5,000 are invested
A small saver who wants to invest 5,000 euros, after 9 months would earn 150 euros.
The withholding of interest generated by deposits in Latvia is 20 percent, but thanks to the double taxation agreements between Latvia and Spain, there is the possibility of reducing this withholding up to 10 percent if clients present a certificate of residence fiscal.
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