On application of negative interest rates

In order to boost growth in Eurozone's economies, the European Central Bank introduced negative interest rates for inter-bank deposits in 2014. As a result the base rate (EURIBOR, LIBOR, etc.) values have declined and even entered negative territory. In this situation SEB bank has decided to act according to client's best interests.

As of July 1, 2015 SEB bank has started to apply the negative base rates to credit liabilities. Therefore, the bank has accordingly reduced the total interest rate for those loans where negative base rates are applicable. The bank has also re-calculated clients' previous payments for the period between emergence of the negative rate and July 1. The adjusted sum has been transferred to clients' accounts.

In case if you have any questions, please contact SEB Call centre by dialling +371 26668777, via Skype (username SEB_Latvija), on Facebook (username SEB.Latvia) or on Twitter (username @SEB_Latvia).