Saldo Bank adds term deposits in Lithuania

Saldo Bank plans to introduce new banking services and expand into other countries in the future

Consumer and business lender Saldo Bank is preparing to offer term deposits in Lithuania. 

After obtaining the necessary licence from the European Central Bank, Saldo Bank will add term deposits to its lending service, which caters for both consumers and businesses. 

Founded in 2006 and formerly known as Saldo Finance, the fintech plans to introduce new banking services and expand into other countries in the future. 

Serving Lithuania—where it’s headquartered—Sweden and Finland, Saldo Bank markets itself as a fast-turnaround lender thanks to an automated lending engine that streamlines the customer onboarding and scoring process. 

Jarkko Mäensivu, chief executive officer at Saldo Bank, commented: “We are ready to provide wider lending services for consumers and SMEs as well as introduce deposits for Lithuanian consumers in April. 

“In the future, Saldo Bank will offer more banking services like cards, increase SME finance availability and plan to expand our banking operations in Finland and Sweden by passporting our specialised bank licence.” 

Image: Saldo Bank  

Josh Poyser Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.