hoiukoht

Hoiukohus is an Estonian term that translates to "savings account" or "deposit account." It refers to a type of bank account where an individual can deposit money for safekeeping and often earn a small amount of interest on the deposited funds. These accounts are typically used for saving money for future goals, such as a down payment on a home, education, or retirement, rather than for frequent transactions.

In Estonia, as in many other countries, savings accounts are a fundamental financial product offered by banks and credit institutions. They are generally characterized by their safety, as deposits are usually insured up to a certain limit by a national deposit insurance fund. The interest rates on hoiukohus accounts can vary significantly depending on the financial institution, the amount deposited, and prevailing economic conditions. Some hoiukohus accounts may have restrictions on withdrawals, such as requiring advance notice or limiting the number of withdrawals per month, which can sometimes result in higher interest rates compared to more liquid accounts. The primary purpose of a hoiukohus is to provide a secure place to accumulate funds over time.