Swedbank Latvia review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Swedbank Latvia suits a senior with savings already in hand who wants a debit card and a fixed-term return. The monthly fee of €3.50 sits well above the fee-free alternatives, and the account locks in the amount at the start, so quick access to the money is not part of the deal.
Key facts
Personal insurance
Savings
Mortgages
- Purpose
- Purchase, Remortgage↗
Facts checked September 26, 2026, 7 sources
Pros and cons
Pros
- The rate is fixed and terms run 1 to 12, so the return and the length are known upfront.
- Interest is paid at maturity or monthly, giving a choice about when the money arrives.
- The card is debit, so spending comes straight from your own balance.
- Support runs on email and phone, which suits people who prefer phone or email to a branch.
Cons
- The monthly fee is €3.50, against €0 at bunq and £0 at Wise.
- The fixed account takes the full amount at the start, since funds cannot be added later.
- Ending a fixed term early forfeits the accrued interest, so the return is all or nothing.
Who it suits
- Seniors who want a debit card and have savings they can leave untouched for the term.
- Customers who prefer a fixed return to a rate that can move.
- People happy to manage the account by email and phone rather than in person.
Who should look elsewhere
- bunq if you would rather hold no monthly fee on a basic account.
- Varo Believe Secured Credit Card if a secured card with no monthly fee is the priority.
- Wise if the account is really for travel money rather than fixed-term savings.
Rates and card terms
Terms run 1 to 12 on a fixed rate, and the account is fixed, so the balance is set when you open it. Interest is paid at maturity or monthly, funds cannot be added afterwards, and ending the term early forfeits the accrued interest. Deposit only what you can leave in place until the account matures.
The company behind it
Swedbank Latvia operates under the legal entity Swedbank AS, which is headquartered in Latvia and was founded in 1997. The business also works as a broker for insurance cover. Customer support runs on email and phone, so help is available by email or phone.
How Swedbank Latvia compares
8.7 vs 9.4
8.7 vs 9.0
8.7 vs 8.9
8.7 vs 9.4
8.7 vs 8.7
8.7 vs 9.2
8.7 vs 9.4
8.7 vs 8.7
8.7 vs 9.3
8.7 vs 8.9
8.7 vs 8.6
8.7 vs 9.2
8.7 vs 8.4
8.7 vs 8.5
8.7 vs 8.8
8.7 vs 9.0
8.7 vs 8.6
8.7 vs 8.3
8.7 vs 9.5
8.7 vs 9.4
8.7 vs 9.4
8.7 vs 9.3
8.7 vs 9.3
8.7 vs 9.3
8.7 vs 9.3
8.7 vs 9.2
8.7 vs 9.2
8.7 vs 9.2
8.7 vs 9.1
8.7 vs 9.1
8.7 vs 9.1
8.7 vs 9.1
8.7 vs 9.0
8.7 vs 9.0
8.7 vs 9.0
8.7 vs 8.9
8.7 vs 8.8
8.7 vs 8.7
8.7 vs 8.5
8.7 vs 8.4
8.7 vs 8.0- 8.7 vs 8.0
Where Swedbank Latvia is available
- Available
- Latvia
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does the monthly fee cost?+
The monthly fee is €3.50. For comparison, bunq charges €0, Varo Believe Secured Credit Card charges $0 and Wise charges £0. Check how that sits with the no monthly fee and fixed rate model before you commit.
Is this a debit card or a credit card?+
It is a debit card, so spending draws on the money in your account rather than extending credit. Card payments come straight from the balance you hold. The card sits alongside a savings product that runs on a fixed basis, so card use and savings are separate.
Can I add more money during the term?+
No. The fixed account is opened with the amount you plan to keep, and funds cannot be added once it starts. The full sum has to be ready at the start, which suits people who already have savings to place and do not plan to top it up.
What happens if I close the account early?+
Ending the term early forfeits the accrued interest, so the fixed return is only kept in full if the money stays put. Anyone who may need their savings early should weigh that against the 1 to 12 commitment before opening the account.
How is the interest paid, and how long is the term?+
Interest is paid at maturity or monthly, depending on the arrangement. The account is fixed and the rate is fixed, with terms of 1 to 12. Since the balance cannot be topped up, the money placed at the start is the money available at the end unless you break the term.
Who is the account aimed at?+
It is aimed at seniors, and the debit card plus email and phone support suit anyone comfortable handling everything by phone or email. Access terms are strict, so a customer who wants flexible top-ups should look at an easy access account instead.
Does Swedbank Latvia also sell insurance?+
It acts as a broker for cover spanning auto, home and travel. Premiums start at €2 and monthly payments are available. Claims can be made through phone, email and internet bank, which is a separate service from the savings account.
Sources
- swedbank.lv checked September 26, 2026
Backs: Provider type, Monthly payments, Purpose
“Jus atrodaties Swedbank internetbanka, kura tiek piedavati "Swedbank" AS, ... "Swedbank P&C Insurance" AS Latvijas filiale, "Swedbank Life Insurance" SE Latvijas filiale finansu pakalpojumi”
- swedbank.lv/about/contacts checked September 26, 2026
Backs: Founded, Headquarters, Support channels
“taking its current name, Swedbank, in 1997”
- swedbank.lv/private checked September 26, 2026
Backs: Legal entity, Monthly fee
“Swedbank AS, Balasta dambis 15, Riga, LV-1048, Latvia. Reg. number: 40003074764”
- swedbank.lv/private/home/cards/debitCards checked September 26, 2026
Backs: Card type
“debitCards - Swedbank debit cards page”
- swedbank.lv/private/insurance checked September 26, 2026
Backs: Claims channels, Insurance types
“Ja janosuta dokumenti vai informacija - apdrosinasana@swedbank.lv ... 67 444 449 (24/7) ... Visas tavas naudas lietas vienuviet - internetbanka”
- swedbank.lv/private/pricelist checked September 26, 2026
Backs: Audience, Premium from
“Konta ipasniekiem, kuri pievienoti klientu programmai "Seniors" ... tiek piemerota 50% atlaide Pamata komplektam”
- swedbank.lv/private/pricelist checked September 26, 2026
Backs: Access terms, Account kind, Pricing model, Rate type, Term
“Adding funds to the deposit is not possible. If the deposit is closed before maturity, then the depositor will not be paid the interest accrued”
Compiled from 7 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Currency conversion fee, Free ATM withdrawals, Protection.
Related by the facts
Swedbank Latvia
A senior placing savings in a fixed-term account with a debit card and phone support