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Time deposit is an easy an sound way to invest one's money receiving, in return, the interest rate agreed in advance. The interest rate for a deposit depends on the maturity of the placed deposit: the longer the deposit maturity, the higher the interest due. You can select the currency (litas, euros or US dollars) of the time deposit, and the time of receiving the interest (on a monthly basis or at the maturity time). Upon the maturity of the time deposit agreement, your time deposit can be extended automatically, where the extension will entitle you to extra interest.
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In accordance with the Law on Insurance of Deposits and Liabilities to Investors of the Republic of Lithuania, all of the legal and natural persons' deposits held with the bank shall be insured with a state company Deposit and Investment Insurance.
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On 4 August 2009 the amendments to the Republic of Lithuania Law on Insuring the Deposits and Liabilities to the Investors came into force, one of the most significant changes among them - deposit insurance benefit amount - the equivalent of the sum in Litas of up to 100 000 Euro (345,3 thousand Litas) - comes into force for the unlimited period.
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