Saving

Time is money – so start saving today!

As a local bank, we want Estonia to be the best place to live, now and in the future. That’s why we’re your partner in money matters, so you can focus on what really makes you happy. We’ve created a versatile savings solution that helps you meet your practical needs today and realise your long-term dreams through convenient savings and smart investments.

Saving can mean anything from contributing small amounts every day to making long-term investments that will shore you up many years down the line. Whether you’re saving for next month or building up a nest egg for the future, putting money aside helps you achieve your goals. The most important thing is to start today.

Cash Drawer – start saving!

You can start growing your funds as soon as you’re able to regularly put money aside. The easiest option for short-term saving is to open the Cash Drawer, where you can set up a variety of automatic saving methods. The amount that accumulates in the Cash Drawer earns you interest, but is also available to you for quick use if needed. As with all bank deposits, the amount saved in the Cash Drawer is guaranteed up to €100,000.

Term deposit – a secure reserve

If you’ve already set aside some spare cash that you’re unlikely to have to spend in the near future, it makes sense to put it in a deposit and safely earn yourself some extra money. A term deposit is a low-risk way to grow your money, as it offers a guaranteed return and is also backed by the state up to €100,000.

You can also open a Children’s Deposit, which you can use to save money for your child so as to cover their costs in starting out on their own or to give them a head-start on long-term savings.

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Pension pillars – secure your future!

Pension funds with low recurring fees represent one of the most effective ways of saving money. Moreover, a tax incentive applies to the III pillar, making it a viable alternative to other investment options: the state issues you with a rebate when you submit your tax return, which you can then invest. On top of that, index funds have demonstrated the highest historical returns. For example, those who save in Tuleva’s III Pillar Pension Fund hold shares in almost 3000 of the world’s leading companies, which means that risks are more widely spread compared to individual equities.

II pillar

III pillar

The financial service is offered by Tuleva Fondid AS. Review the fund’s terms and conditions, prospectus and key information online at tuleva.ee and consult a specialist by e-mailing tuleva@tuleva.ee or calling 644 5100.

Come up with your own savings solution that covers all the bases!

	Cash Drawer Everyday saving	Term deposit Growing available funds	Children’s deposit Saving for children	Tuleva II pillar Long-term saving	Tuleva III pillar Long-term saving
Annual interest rate	2%	up to 3.75%	4.25%	Product with investment risk	Product with investment risk
Open to investment risk	No	No	No	Yes	Yes
Interest type	Variable over contract term	Fixed	Variable over contract term	-	-
Term of saving	Unspecified term	1-120 months (automatic extension possible)	Until child turns 18	-	-
Minimum amount	0	100	0	0	0
Contributions possible?	Yes	No	Yes	Yes	No
Withdrawals possible?	Yes	No	During the birthday month of the child’s 7th, 10th or 15th year if the deposit has been in use for at least three years	Yes, with three days’ notice. Partial and full withdrawal are possible	Yes
Interest payouts	Once a month to Cash Drawer account	Once a month or at end of agreement to current account. Can be extended with interest upon automatic extension	Once a month to Children’s Deposit	-	-
Further options	Once a month to Cash Drawer account	N/A	€50 start-up capital from Coop Pank for new deposit	N/A	Contributions can be increased up to 6% per year

Start today!

Come up with the savings solution that makes the most sense for you, from the Cash Drawer to a III pillar pension. The automated Cash Drawer helps you develop a habit of saving without even noticing you’re doing it, and the deposits offer guaranteed, risk-free returns. Long-term saving allows you to benefit from financial market growth, but you’re still able to use your money flexibly.

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A bank in your pocket

With our mobile app you can keep an eye on your money matters and do all your daily banking. And all right there in your pocket, from quick payments to saving without even realising you’re doing it! Try it for yourself.

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