Despite Saldo Bank's Finnish roots, the Bank of Lithuania oversees the majority of the company's banking activities, which are centered in Lithuania. Vilnius is also home to Saldo Bank's technology development center.

Saldo Bank, which was founded in Lithuania in 2021, competed with existing banks by offering interest rates that beat the market when it launched for operation in Finland in October 2023.

With interest rates as high as 5% on one-year fixed-term accounts, the bank hopes to draw clients in Sweden, where the next best offer is only 4.4%.

Saldo Bank CEO Jarkko Mäensivu states: "We believe that the interest rates on fixed-term accounts have been extremely low for a considerable amount of time. Customers should be paid interest rates that at least match market rates. Our goal is to improve borrowing equity."

A fixed-term deposit can only be made in excess of SEK 900,000, and the money placed in these accounts is protected against loss.

The bank's lending operation will be the beneficiary of the accumulated deposits.

Mäensivu states, "We want to grow in Sweden." "We use local funds to grow our loan portfolio in Sweden."