Frequently asked questions
The owners of Intus Savings and Loan Association are its members who own shares with equal voting rights. Despite of the number of shares owned every member has only one vote at the General Meetings. Every new client is expected to join as an Intus member before they can either open a deposit account or apply a loan. Intus’ legal structure as a savings and loan association can be compared to co-operative banks.
We are located in Tallinn, Estonia by the address Tartu mnt 25, 10117, 2nd floor. Our office is opened from Monday to Friday, from 09:00 to 16:00 (CET).
Any 18 years old natural person, or any legal entity, who is interested in having competitive deposit and loan interest rates.
Currently we have Bronze membership level and Gold membership level. Bronze membership offers the standard fees and interest rates shown in the price list while Gold membership offers lower interest rates on credit products and higher interest rates for deposit accounts. More information can be found here.
According to the current rules we charge withholding tax only from the Estonian residents, not from tax residents in any other country.
The Savings and Loan Association, as well as its investment portfolio, is strictly regulated by several Regulation Acts in Estonia, which provides our members high level of security. We are only allowed to invest the deposit funds in loans granted to our members. We have a strict lending policy, we grant loans to creditworthy persons with high enough income regular income and acceptable securities. We charge from our loan clients 14-18% per annum interest and pay accordingly to our deposit clients 3.00-8.50% per annum interest. Our average margin between loan and deposit interest rates is 8%. This explains how we can pay higher interest rates than traditional banks. We are not covered by the same Deposit Guarantee Scheme as the banks but taking into notice the above strict rules how we are obliged to manage our funds we consider the risk level being low with our deposit accounts. Our balance, all loans granted to our clients and own capital, works as the security for our deposit clients. Intus was established in 2014 and our business has been growing steadily year by year. You can read more about the security of our accounts here.
You should pay 10 EUR as an entrance fee and a minimum of 30 EUR into Intus share capital. You can increase your investment into the share capital in order to increase your credit and savings products options (read more here). Keep in mind that any investment into the share capital shall be fully returned to the member’s bank account in case of resignation.
After you have filled in the membership application form, paid 10 EUR as entering fee and 30 EUR minimum investment into the share capital, we will send you a confirmation letter with your account information.
We grant currently loans only to Estonian residents. We are planning to start to offer loans also to members living in some other countries.
After you have sent us the application form and you have been identified, we will send you a confirmation letter, and our customer service will contact you as soon as possible with further instructions.
After we have approved your application form, we will activate your account and send you its details and the information for the transfer in the confirmation letter. You can then transfer your funds immediately, and we will send you a confirmation once we receive them.
As soon as your funds are transferred to your account.
We offer investment advisory services linked to the investment accounts opened with Novia Global (www.novia-global.com) platform. You can invest in through this platform to thousands of traditional mutual funds and Exchange Traded Funds (ETFs) as well in a large selection of Capital Protected Products issued by major European Banks. We offer currency hedging service for Euro investors to eliminate the currency risk related to USD or GBP investment products which makes it possible for you to invest in some good products not available in Euros. You can read more about this service here.
We have partnered with Revolut Ltd., one of the leading European payment services companies, to be able to provide our clients card services with competitive terms. You can request transfers to be made from your Intus cccount to your Revolut card account without any additional fees.
You should inform our customer service of any changes in your data via email, regular mail, phone or by visiting our office.
You can request a copy of your account statement from our customer service.
Our affiliate Group company Intus Brokers offers life insurance broker services to our clients. You will receive 25% discount on their standard fees by advising them about being a member of Intus Savings and Loan Association. Intus Brokers is specialized in tax planning with Life Insurance products. They also have a large selection of Capital Protected Products in their offering.