Saving Deposit Agreement

Luminor Bank AS, reg. No 11315936, address: Liivalaia 45, 10145, Tallinn, Estonia, registered with Estonian Commercial Register, represented within the Republic of Lithuania by Luminor Bank AS Lithuanian branch, company code 304870069, address: Konstitucijos ave. 21A, 03601 Vilnius, Lithuania (hereinafter referred to as the Bank), and a Depositor indicated in the Special Part of the Agreement have entered into this Saving Term Deposit Agreement (hereinafter referred to as the Agreement). The Special Part of the Agreement elaborates the terms and conditions of the General Part of the Agreement in respect of a specific Depositor.

GENERAL PART

1. DEFINITIONS

1.1. Unless otherwise required by the context, capitalised definitions contained in the Agreement have the following meaning:

1.1.1. Bank Account means an account opened with the Bank in the Depositor’s name from which the Deposit amount shall be transferred and to which the Deposit shall be returned and the number of which is indicated in the Special Part of the Agreement.

1.1.2. Deposit Account means a Bank account in which the Deposit is held and the number of which is indicated in the Special Part of the Agreement. The Deposit Account is not used for the Depositor’s payment transactions.

1.1.3. Saving Term Deposit or Deposit means an amount accepted by the Bank from the Depositor under the Agreement which the Depositor has the right, according to the procedure established in the Agreement, to supplement and which the Bank undertakes to return to the Depositor with payment of Interest under the terms and conditions and according to the procedure established in this Agreement.

1.1.4. Maximum Deposit Amount means the maximum amount of money which the Bank herewith undertakes to accept as the Deposit, including supplementary contributions subsequently made by the Depositor - 15,000 Eur.

1.1.5. Interest means annual interest, as percentage of the Deposit Amount, paid by the Bank for the Deposit in the amount indicated in the Special Part of the Agreement.

1.1.6. Interest Account means an account opened with the Bank in the Depositor’s name to which Interest is paid and the number of which is indicated in the Special Part of the Agreement.

1.2. Other definitions have the meaning defined in the General Service Provision Rules of the Bank.

2. SUBJECT OF THE AGREEMENT

2.1. The Bank herewith undertakes to accept from the Depositor the Deposit and supplementary contributions, also return the Deposit and pay Interest under the terms and conditions and according to the procedure established in the Agreement.

3. DEPOSIT SERVICE ACCOUNTS

3.1. The Deposit is made and held in the Deposit Account. All funds in the Deposit Account are owned by the Bank, while the Depositor, under this Agreement, has the right to claim the Deposit from the Bank.

3.2. The Depositor undertakes, within the period of this Agreement, to hold a Bank Account and Interest Account. At the Depositor’s discretion, the same account may be used both as the Bank Account and Interest Account.

3.3. If at the time of return of the Deposit and/or payment of Interest the Depositor has no Bank Account and/or Interest Account, the Bank will not return the Deposit and/or pay Interest, unless the Depositor informs the Bank of an account opened with the Bank in the Depositor’s name for return of the Deposit and/or payment of Interest. Within the said period, no Interest will accrue on the amounts equivalent to the Deposit and/or Interest amount held in the Bank.

4. MAKING AND SUPPLEMENTING THE DEPOSIT

4.1. On the effective day of the Agreement the Bank shall debit the Deposit amount specified in the Special Part of the Agreement from the Bank Account and shall credit it to the Deposit Account, and from the moment of crediting the Deposit Account it shall be deemed that the Deposit has been placed. The Depositor shall instruct the Bank and shall agree that the Bank performs the debiting as indicated above.

4.2. The Depositor has the right, during the period of the Agreement, to supplement the Deposit by supplementary contributions to the Deposit Account. Upon making supplementary contributions by the Depositor, the total amount deposited will be considered as the Deposit Amount. Upon making by the Depositor a supplementary contribution to the Deposit Account exceeding the Maximum Deposit Amount, the Bank will return the total supplementary contribution amount no later than within three (3) working days. Within the said period, no interest will accrue on the amount held in the Bank.

4.3. The Depositor is aware that, in cases where funds are transferred in a foreign currency from banks registered in Lithuania or in any other currency from banks established in foreign countries, the Bank will charge a fee indicated in the Price List for crediting of amounts transferred which will be debited from the amount transferred before crediting the amount to the Deposit Account and that, depending on the type of transfer, fees may also be charged by intermediary banks. The Depositor undertakes to take care that, after debiting of all fees, an amount transferred to the Deposit Account at the time of making the Deposit, is no less than the Deposit amount indicated in the Special Part of the Agreement.

4.4. Third persons have the right to pay cash amounts to the Deposit Account. In this case, the Depositor will be considered as having agreed to accept cash amounts from third persons and provided them with necessary details of the Deposit Account, and such funds will be subject to the terms and conditions of the Agreement.

4.5. The Depositor confirms being aware that, in cases where the currency of the Deposit differs from that of the Depositor’s income, the Depositor risks incurring damages as a result of currency rate fluctuations.

5. INTEREST

5.1. In the period of the Agreement, from the day of making the Deposit in the Deposit Account to the day before the expiry of the Agreement, the Bank will pay the Depositor Interest on the Deposit Amount actually held in the Deposit Account, which may not exceed the Maximum Deposit Amount. Interest is calculated on the basis of a 360-day calendar year and a 30-day calendar month.

5.2. Interest will be paid to the Interest Account within time limits indicated in the Special Part of the Agreement, unless otherwise provided by the Agreement.

5.3. At the Depositor’s request to return the Deposit before the maturity date, Interest will not accrue over the factual Deposit period. If Interest has been paid to the Depositor before early withdrawal by the Depositor of the Deposit, the Deposit amount returned is reduced by the amount of Interest paid.

6. AUTOMATIC EXTENSION

6.1. If the Special Part of the Agreement includes a provision for the automatic extension of the Agreement, upon the maturity of the Deposit period indicated in the Special Part of the Agreement the Agreement will be automatically extended without a separate notice in relation to the Deposit amount of automatic extension specified in the Special Part of the Agreement and for the same period, and where the Bank does not accept deposits for such a period, it will be extended for the next closest period for which deposits are accepted.

6.2. According to the Special Part of the Agreement, the Depositor has the right to choose one of the following methods of automatic extension: (i) for the sum of the Deposit amount and Interest accrued by the day of extension, but not paid or (ii) Deposit amount or (iii) other amount not exceeding the Deposit amount indicated in the Special Part of the Agreement.

6.3. At the time of extension, the Interest rate will be automatically replaced by the Interest rate at that moment applied by the Bank in respect of deposits of the same type, determined according to the type of the Deposit, maturity, amount and currency and announced on the Bank‘s web site www.luminor.lt.

6.4. The number of automatic extensions is not limited.

6.5. The Bank has the right not to extend the Agreement automatically and return the Deposit to any account opened with the Bank in the Depositor’s name provided that (i) upon maturity the Bank has taken the decision not to accept this type of deposits or (ii) the Bank has received a request from bailiffs or other public authorities to debit funds from the Depositor's accounts or (iii) upon the extension of the Agreement the Deposit will not conform to the terms and conditions of deposit acceptance by the Bank (minimum or Maximum Deposit Amount, minimum or maximum deposit period, etc.) or (iv) the Depositor dies or becomes legally incapable.

7. RETURN OF THE DEPOSIT

7.1. Upon the expiry and non-extension of the Agreement or at the Depositor‘s request to return the Deposit before the maturity date, the Deposit will be returned to the Depositor‘s Bank Account on the last day of validity of the Agreement, unless otherwise provided by the Agreement.

7.2. The Depositor has no right to withdraw the Deposit in portions.

7.3. The Depositor has the right to terminate the Agreement and request that the Deposit is returned before the maturity date provided that the Depositor gives a written seven (7) working days' notice to the Bank or sends a notice, in the form and content defined by the Bank, confirmed by a password generated by a password generator or mobile signature.

8. OTHER PROVISIONS

8.1. The Depositor is informed and accepts that the Bank has the right to refuse to sign more than three (3) Saving Term Deposit Agreements with the Depositor, or, if made, to refuse to accept deposited amounts irrespective of the period of the agreements or the amount and currency of the deposits made.

8.2. Information on deposit insurance and cases where deposits are not insured and when deposit insurance benefits are subject to payment restrictions is provided in the DEPOSITOR INFORMATION SHEET part of this Agreement. The depositor confirms that he has familiarized himself with the information provided.

8.3. The Depositor confirms the Agreement with a password generated by the password generator or with a mobile signature. The Agreement concluded and approved in Internet Banking has the same legal force as agreements concluded in writing. The contract is considered concluded and comes into force from the date of confirmation of its conclusion by online banking. The Bank does not send a separate notification of the Agreement approval to the depositor.

8.4. All notices, reports and other correspondence in the execution of this Agreement shall be delivered to the Contracting Party for signature or a message sent in online banking (the Depositor must confirm the message sent with a password generated by a password generator or with a mobile signature).

8.5. After this Agreement enters into force, the Bank undertakes to place the electronic data file of this Agreement in the online banking system in the format determined by the Bank within 1 (one) working day.

8.6. The Agreement is valid within the Deposit period indicated in the Special Part of the Agreement, unless extended automatically or terminated at an earlier date.

8.7. The Depositor undertakes to pay the Bank fees for services included in the Price List.

8.8. The Agreement is not a document confirming any cash depositing or payment transactions.

8.9. In addition to the provisions of the Agreement, relations of the Parties under this Agreement and all other agreements between the Bank and the Depositor concerning the supply of the Bank’s services to the Depositor will also be governed by the General Service Provision Rules of the Bank which make part of the agreements and a copy of which has been handed over to the Depositor. Payment transactions made under the Agreement will also be governed by the Terms and Conditions of Payment Services Provision. The Depositor confirms being aware of and accepts the General Service Provision Rules, Terms and Conditions of Payment Services Provision and Price List of the Bank and is informed that their amendments are publicly available on the Bank’s web site luminor.lt.

PRIVACY NOTICE

The Client acknowledges that the implementation of this service involves personal data processing by the Bank and the processors involved in providing the requested service(s).
When signing this document, the Client acknowledges being informed about the general terms and conditions of personal data processing provided in Luminor’s Privacy Policy and Luminor’s Data Retention Policy which can be found at: luminor.lt/en/privacy-policy and of the purposes and legal basis of the processing as well as any processors, recipients of personal data and the exercise of data subject rights as well as relevant terms and definitions. Luminor’s Data Retention Policy will specify the period for which the Client’s personal data will be stored.

The controller of personal data processed under this document is Luminor Bank AS, company code 11315936, address Liivalaia 45, Tallinn, 10145 Estonia, represented by Luminor Bank AS Lithuanian branch, company code 304870069, address: Konstitucijos ave. 21A, 03601 Vilnius, Lithuania.

Upon request by email dataprotectionLT@luminorgroup.com, Bank’s Data Protection Officer, will provide additional information about the processing of personal data under this Agreement and assist you with the exercise of your rights.

In case this document is signed by the representative of the Client, the representative acknowledges, that Bank process his personal data according to Luminor’s Privacy Policy and Luminor’s Data Retention Policy which can be found at: luminor.lt/en/privacy-policy.

DEPOSITOR INFORMATION SHEET

BASIC INFORMATION ON DEPOSIT COVERAGE

Deposits held at Luminor Bank AS Lithuanian branch are covered	by “Tagatisfond” (the Estonian Guarantee Fund)
Payout limit	up to EUR 100,000 per depositor per credit institution¹
If you have more deposits at the same credit institution	all your deposits held at the same credit institution are added up and the total is subject to the limit of EUR 100,000¹
If you have a joint account with other person(s)	the limit of EUR 100,000 applies to each depositor²
Reimbursement period in case of credit institution’s failure to meet its obligations	7working days³ (to be updated if a different period becomes valid)
Currency of reimbursement	Euro
Contact	Tagatisfond (Estonian Guarantee Fund) Sakala 4, 15030 Tallinn, Estonia, phone +372 6680 583, e-mail: tf@tf.ee
More information	tf.ee
Acknowledgement of information receipt by the Depositor

Notes:
¹ If a deposit is not reimbursed because a credit institution is unable to meet its financial obligations, depositors will be repaid by the Estonian Guarantee Fund. This repayment covers at maximum EUR 100,000 per depositor per credit institution. In order to determine the coverage level, all deposits at the same credit institution are added up. If, for instance, a depositor holds a savings account with EUR 90,000 and a current account with EUR 20,000, he or she will only be repaid EUR 100,000.
In some cases deposits are protected above EUR 100,000 (in case the depositor’s account, not earlier than 6 months before the day of an insured event, has been credited in relation to sale of a residential property owned by the depositor; sums received by the depositor in respect of a legacy or by operation of law; sums received by the depositor as the beneficiary of a life insurance benefit or analogous benefit payable on death; sums received by the depositor as compensation in the cases provided by law in respect of other person’s death in the course of performing work or official duties or analogous benefits; benefits or compensations for damage caused by violent crimes).
More information can be obtained at the website: tf.ee
² If you have a joint account with other person(s), the limit of EUR 100,000 applies to each deposit co-owner separately.
³ Payment of insurance compensations.
The Estonian Guarantee Fund (Tagatisfond) is responsible for the deposit insurance system (Sakala 4, 15030 Tallinn, Estonia, phone +372 6680 583, e-mail: tf@tf.ee, website: tf.ee). It will repay your deposits (up to EUR 100,000) not later than 7 working days from the date the inaccessibility of deposits has occurred on.
If no insurance compensation is paid to you within these deadlines, you should contact the Estonian Guarantee Fund. More information can be obtained at tf.ee.

Other important information
In principle, all retail depositors and businesses are covered by the Estonian Guarantee Fund.
Exceptions for certain deposits are stated on the website of the Estonian Guarantee Fund tf.ee. Your credit institution will also inform you on request whether certain products are covered or not. If deposits are covered, the credit institution shall also confirm this on the statement of account.

Additional information:

Funds available in the account held at the Bank (hereinafter – the Funds) are covered by the Estonian Guarantee Fund. Information about the cases where the Funds are not covered and where the payout limits are applicable is published at luminor.lt. A free printed copy of the terms and conditions for covering the Funds is available at any outlet of the Bank.
Deposits held at the Bank are covered by the Estonian Guarantee Fund . Information about the cases where deposits are not covered and where the payout limits are applicable is made available at luminor.lt. A free printed copy of the terms and conditions for deposit coverage is available at any outlet of the Bank.

CASES WHEN DEPOSITS ARE NOT INSURED OR RESTRICTIONS TO PAYMENT OF DEPOSIT INSURANCE COMPENSATION APPLY

The object of deposit insurance coverage shall not be:

Deposits deposited as at the date on which deposits become unavailable by the Estonian state or foreign state or the following Estonian or foreign persons shall not be secured or compensated:
1. deposits of local authority;
2. deposits of another credit institution;
3. deposits of insurance undertaking or reinsurance undertaking;
4. deposits of management company or investment fund;
5. deposits of investment firm;
6. deposits of e-money institution;
7. deposits of payment institution;
8. deposits of creditor or credit intermediary;
9. deposits of another financial institution not specified in clauses 4–8 above, including a financial holding company, a mixed financial holding company and an asset management company specified in point (26) of Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.06.2013, p. 1–337), excluding insurance holding companies and mixed-activity insurance holding companies for the purposes of the Insurance Activities Act of Republic of Estonia.

Claims arising from the following shall not be secured or compensated:
1. capital instruments recorded under the own funds of a credit institution pursuant to point (118) of Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council;
2. debt securities, acknowledgements of obligation and promissory notes issued by a credit institution.

The restrictions to payment of deposit insurance compensation:

1. Insurance compensations are not paid for deposits, funds, money, securities, and liabilities that are not the object of the deposit insurance coverage (as mentioned in this form above).
2. in addition to the above, also the following deposits shall not be compensated:
2.1. deposits the owner of which has liabilities that have fallen due to the same credit institution, to the extent of such liabilities;
2.2. deposits the owner of which cannot be identified by the credit institution.
3. Deposits confiscated on the basis of a judgment of conviction in a court case concerning money laundering or terrorist financing shall not be secured. If the disposal of the deposit has been restricted by the precept of the Estonian Financial Intelligence Unit or the deposit has been seized in criminal proceedings of a case concerning money laundering or terrorist financing, the compensation for the deposit shall be suspended until the precept has been revoked or the court judgment has entered into force.
4. Deposits belonging to persons subject to international sanctions as at the day of compensation for the deposit are not compensated, unless otherwise decided pursuant to subsection 21 of § 41 of the Guarantee Fund Act of the Republic of Estonia. A person in which a qualifying holding is held by or which is controlled by a person subject to an international sanction is also deemed to be a person subject to an international sanction.

The payment of deposits insurance compensation shall be deferred (delayed):

In cases provided for in the Guarantee Fund Act of the Republic of Estonia (read more at tf.ee) the payment of insurance compensation for deposits may be deferred (delayed), for example, in cases of insufficient information to evidence the right to insurance compensation for the deposit, or in the case of an ongoing court dispute about the deposit, or if the depositor’s right to dispose of the deposit is restricted.