Rietumu Bank

Rietumu Bank is a brand of JSC “Rietumu Banka”, a bank from Latvia. From the Netherlands you open an account through the savings platform Raisin: one Raisin account, with your money held at Rietumu Bank in your name.

For €50,000 we list 6 deposits from Rietumu Bank, with terms from 6 months to 5 years. The best-paying deposit runs for 3 years at an effective 2.54% a year.

The lowest minimum deposit is €10,000.

Savings at Rietumu Bank fall under Noguldījumu garantiju fonds (Latvijas Banka), the statutory deposit guarantee scheme of Latvia, up to €100,000 per person. We checked that with the supervisor or the scheme itself. Latvia withholds 25.50% tax on interest; with a certificate of tax residence that becomes 10.00% for a resident of the Netherlands.