LHV Savings Account LHV Pank
Price on request
- Interest Rate: 3.50% AER
- Min Balance: €1
- Account Type: Flexible
- Withdrawals: Free
Compare Savings Accounts in Estonia
Live offers across tracked providers in Estonia — updated daily from the Giraffy database.
Live offers
4 live offers compared from 4 providers. Updated daily.
Coop Pank Savings Coop Pank
Price on request
- Interest Rate: 3.25% AER
- Min Balance: €1
- Account Type: Flexible
- Withdrawals: Free
Swedbank Savings Account Swedbank Eesti
Price on request
- Interest Rate: 2.80% AER
- Min Balance: €1
- Account Type: Flexible
- Withdrawals: Free
SEB Savings Deposit SEB Estonia
Price on request
- Interest Rate: 2.75% AER
- Min Balance: €1
- Account Type: Flexible
- Withdrawals: Free
What are savings accounts in Estonia?
A savings account (säästukonto or kogumiskonto) holds money you do not need day-to-day and pays interest while keeping funds accessible. Unlike a fixed deposit, most Estonian savings accounts allow withdrawals at any time, though the interest rate is variable and can change with the market. They sit between a current account, which pays little or no interest, and a term deposit, which locks money away for a higher fixed rate.
Savings accounts became more attractive as European interest rates rose, prompting banks to compete for deposits with better variable rates.
How the Estonian market works
Savings accounts are offered by the main banks and opened instantly within the mobile app using Smart-ID. Rates are variable and track the ECB policy rate, so they climbed during the rate-hiking cycle and ease as the ECB cuts. Smaller and domestic banks often lead on rate to attract funding, while the large Nordic banks may pay less on instant-access savings.
Interest is usually calculated daily and paid monthly. Some accounts tier the rate by balance or offer a promotional bonus rate for a period, so the headline figure may not apply to all balances or indefinitely.
Benefits
Instant access — Withdraw funds when needed without losing accrued interest.
Variable interest — Earn a return that rises with market rates.
Easy setup — Open in the bank app in minutes with Smart-ID.
Separation from spending — Keep savings apart from your everyday current account.
How to choose
Compare the variable interest rate, but check whether it is tiered by balance or a temporary promotional rate. Confirm the account offers genuine instant access without penalties, and look at how interest is calculated and paid. Smaller and domestic banks often pay more, so it is worth comparing beyond your existing bank.
For money you will not touch for a set period, weigh a fixed deposit's higher guaranteed rate against a savings account's flexibility.
Leading providers in Estonia
LHV Pank — Estonia's leading domestic bank, offering competitive savings products.
Coop Pank — Frequently among the higher-paying banks as it grows its deposit base.
Swedbank Eesti and SEB Estonia — The large Nordic banks, offering instant-access savings alongside term deposits.
What it costs
Savings accounts generally carry no fees — you earn interest on your balance with no charge to open or hold the account. The return depends on the ECB rate environment and the bank; smaller banks often pay more. The main trade-off versus a fixed deposit is a lower, variable rate in exchange for instant access, and promotional rates may drop after an introductory period.
Protections and regulation
Banks are licensed and supervised by Finantsinspektsioon, and savings balances at licensed banks are protected by the Estonian Deposit Guarantee Scheme (Tagatisfond) up to 100,000 euros per depositor per bank. Banks must disclose interest terms clearly, including whether rates are promotional or tiered. Complaints about account terms or interest can be raised with the bank and escalated to the regulator.
Common questions
Can I withdraw anytime? Most Estonian savings accounts offer instant access without penalty, unlike fixed deposits.
Is the rate guaranteed? No — savings rates are variable and change with the market; fixed deposits lock a rate.
Are savings protected? Yes — up to 100,000 euros per bank under the national guarantee scheme.
Savings Accounts in Estonia — FAQ
What is the highest savings rate in Estonia right now?
Giraffy tracks 4 savings accounts across LHV Pank,Coop Pank,Swedbank Eesti,SEB Estonia providers in Estonia. Sort by highest rate and filter by account type (easy access vs. fixed) to find the best deal for your timeline.
Is my money safe in a savings account?
Yes — deposits may be protected by your country's deposit guarantee scheme. Always confirm your institution is regulated by the local financial authority before depositing. If your balance exceeds the protection limit, spread funds across multiple separately-licensed banks.
What does p.a. mean on a savings account?
p.a. (per annum) is the standardised rate that accounts for how often interest is compounded over a year. It's the fairest number to compare across accounts — always compare like-for-like using p.a. rather than the gross or monthly rate.
What is the difference between easy access and fixed-rate savings?
Easy access accounts let you withdraw your money at any time — rates are variable and may change. Fixed-rate bonds or term deposits lock your money away for a set period (usually 1–5 years) at a guaranteed rate, which is typically higher. Choose fixed if you don't need the funds before the term ends.
Do I pay tax on savings interest?
Tax on savings interest varies by country and income level. Check your country's tax authority guidance or speak to a financial adviser if your interest income is significant.
Can I open multiple savings accounts at different banks?
Yes — and it can be a smart strategy. Spreading savings across banks maximises your deposit protection (protected by a local deposit guarantee scheme per institution) and lets you earn the best rate at each bank. Just keep track of all accounts to avoid losing money to dormancy fees.
How quickly can I access my money in an easy access savings account?
Most easy access accounts transfer funds to a linked current account within one working day, and many process withdrawals the same day. Some accounts restrict the number of free withdrawals per month — check the terms before you open one if flexibility matters to you.