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Savings Notes distributed for more than half a billion Litas

Date

2012 10 08

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Vilnius, October 8. Last week the total distributed amount of Savings Notes topped the sum of half a billion Litas, counting from the start of distribution in May 2009.

Savings Notes are Government securities are tailored for retail investors. They provide a safe investment option and encourage development of financial market for retail investors in Lithuania. The popularity of Savings Notes has increased significantly after the Ministry of Finance started to distribute this instrument via banks at the end of May 2012. At the beginning of October the total amount of Savings Notes distributed by DNB, SEB and Swedbank was more than LTL 350 million.

The interest rate of Savings Notes depends on two key factors: the interest rates for deposits of the same duration offered by banks operating in Lithuania and the interest rates for Government securities (distributed in auctions) of same duration. Currently,  one-year Savings Notes offer annual interest of 1.3 percent and two-year Savings Notes offer 2.2 percent.

Banks’ clients can buy Savings Notes paying in cash (at the bank branches), and transferring the funds online via electronic banking system.

Investors may also purchase Savings Notes online at www.vtl.lt (money is transferred via electronic banking system) or at one of the Lithuanian post offices (paying in cash).

Public Relations Office
Tel. (8 5) 239 0187
www.finmin.lt