The Polish Savings Market in July 2026
Polish interest rates have been on hold since March 2026. The Monetary Policy Council (MPC) cut the NBP reference rate to 3.75% at its March meeting and has kept it unchanged at every subsequent meeting — April, May and June. Council members signal that the next rate change is unlikely before the first quarter of 2027.
What does this mean for savers? Banks, seeing the cost of money stabilise, are gradually optimising their offers: standard deposit and savings account rates are drifting lower, but promotional offers — especially for new customers — still reach 6–7.5% per year. In autumn 2025 you could find accounts paying 8%; today the ceiling is 7%. The takeaway: act now before rates fall further.
Best Savings Accounts in July 2026
A savings account is a flexible way to store money — you can add or withdraw funds at any time without losing accrued interest. In July 2026 several banks stand out with particularly strong conditions. Compare the full savings account ranking on BankSorter to see which offer suits your amount.
BOŚ Bank — Cyfrowy Zysk: 7% per year
The clear market leader this month. Bank Ochrony Środowiska (BOŚ) offers the Cyfrowy Zysk savings account at 7% per year, but with two important conditions: the cap is PLN 15,000 and the promotion runs only until 31 August 2026. Above that amount the rate drops sharply. If you have PLN 15,000 in spare funds, this is the best offer available right now. The interest over two months (until the promotion ends) amounts to around PLN 116 gross — PLN 94 net after the Belka tax.
Nest Bank — 6.1% for 90 days
Nest Bank offers a savings account at 6.1% per year for the first 90 days. This promotion applies to both new and existing bank customers. A key advantage: there is no requirement to open a separate current account. After 90 days the rate reverts to the standard level — check what that is before the promotional period ends. On a PLN 25,000 balance you would earn around PLN 373 gross — PLN 302 net after tax.
VeloBank — 6% on new funds (up to PLN 50,000)
VeloBank offers 6% per year on new funds up to PLN 50,000 for 92 days. The critical term here is new funds — the bank only counts deposits that exceed the balance at the start of the promotion. The PLN 50,000 cap is one of the highest in the market, making this attractive for larger savers. At the maximum balance over the full 92-day period you can earn PLN 757 gross — PLN 613 net.
PKO BP — 6% on first savings account (up to PLN 10,000)
The largest bank in Poland offers 6% per year for customers opening their first savings account, but the cap is only PLN 10,000. This is primarily aimed at people who are just starting to save with PKO BP or have never held a savings account with them before. On PLN 10,000 over three months you would earn PLN 147 gross.
Bank Pekao — 5.7% plus a cash bonus of up to PLN 2,700
Bank Pekao stands out not only for the rate of 5.7% per year for 92 days but also for a cash bonus of up to PLN 2,700 for customers meeting additional activity requirements (such as regular card transactions or salary deposits). The bonus can significantly boost the overall return from the package — check the detailed campaign conditions on the bank's website before signing up.
Best Term Deposits in July 2026
A term deposit locks in a fixed rate for a set period, giving you certainty even if market rates fall. In July 2026 the strongest deposit offers are concentrated in the welcome deposit segment for new customers. Browse the current deposit comparison on BankSorter and compare conditions from all banks side by side.
Credit Agricole — Welcome Deposit: 7.5% for 90 days
Credit Agricole offers a Welcome Deposit at 7.5% per year for 90 days for new customers. The maximum amount is PLN 100,000. You must open a personal account with the bank, and the deposit must be set up within 14 days of account registration — do not delay. This is currently the best term deposit rate on the Polish market. On PLN 50,000 you would earn PLN 912 gross — PLN 739 net after tax. On the full PLN 100,000 the net gain reaches PLN 1,478.
BNP Paribas — Dynamiczny Zysk: rising rate across 12 months
BNP Paribas offers a unique Dynamiczny Zysk deposit for 12 months, where the rate rises month by month and peaks at 7.50% in the final, twelfth month. The average rate across the full year is however 4.03% per year. This product suits people who plan to keep their funds for the full year and want to be rewarded for patience. Breaking the deposit early means losing all accrued interest — do not open it if there is any chance you will need the money within the year.
Nest Bank — 6.1% for 6 months (up to PLN 25,000)
Nest Bank also performs well in the deposit segment, offering 6.1% per year for 6 months via a welcome deposit available up to PLN 25,000. This is a solid option for those who want to lock in a guaranteed rate for half a year. On the full PLN 25,000 you would earn PLN 762 gross — PLN 617 net after the Belka tax.
The Belka Tax — Factor This Into Your Calculations
Every zloty of interest earned on a deposit or savings account is subject to a 19% capital gains tax — known in Poland as the Belka tax. You do not need to file any declaration; the bank withholds it automatically at the time of interest payment. It materially reduces your real return and must be factored in when comparing offers.
Net returns after the Belka tax in July 2026:
- Savings account 7.0% gross → 5.67% net
- Deposit 7.5% gross → 6.08% net
- Savings account 6.1% gross → 4.94% net
- Savings account 6.0% gross → 4.86% net
- Savings account 5.7% gross → 4.62% net
Always compare offers using the net rate, not the headline gross figure. Banks advertise gross rates — your actual earnings are always 19% lower than the quoted number.
Key Traps in Promotional Offers
Promotional rates almost always come with conditions. Before signing anything, verify each of these points:
- Amount cap — the highest rates often apply only up to PLN 10,000–25,000. Above that, the rate drops sharply to a standard level (1–2%). Make sure you know what rate applies to any excess before calculating your potential return.
- New customers only — a welcome deposit is available exclusively to people who have never held an account or deposit with that bank. Even if you were a customer several years ago, the terms may exclude you — always check the fine print before applying.
- Short promotional window — high-rate savings accounts typically last 60–92 days. After that the rate falls to the standard level, often 2–3%. Set a reminder a week before the end of the period so you have time to decide on your next move.
- Current account requirement — some deposit offers are only available to holders of a personal account at the same bank. Check whether opening a new current account carries a monthly fee or conditions for waiving it.
- Activation deadline — the Credit Agricole welcome deposit must be opened within 14 days of account registration. Miss that window and the 7.5% rate is gone.
Deposit or Savings Account — Which to Choose?
With rates on hold until at least 2027, a mixed strategy makes sense. Here is a practical approach:
- Emergency fund (3–6 months of expenses) — keep it in a well-paying savings account. Liquidity is essential here. The best current choices are Nest Bank (6.1%) or VeloBank (6%).
- Funds you will not need for 3–6 months — a term deposit with a guaranteed rate (e.g. 6.1% at Nest Bank for 6 months or 7.5% at Credit Agricole for 3 months) protects you against any future unilateral rate cuts by the bank.
- Larger amounts above PLN 50,000 — consider splitting funds across several banks to benefit from promotional caps at each institution. Remember the BFG guarantee limit: EUR 100,000 per depositor per bank.
If you are also thinking about a personal loan, check our cash loan comparison — the current rate freeze is a reasonable moment to refinance existing debt at a stable rate. And if you are planning to buy property, take a look at our mortgage comparison.
Summary — Act Before Banks Cut Rates Further
July 2026 is still a good time to invest your savings — but promotional offers have expiry dates. BOŚ Bank ends its 7% promotion on 31 August 2026. Rates are slowly moving lower even though the NBP has not cut since March — banks are reducing returns on their own initiative to manage costs. The sooner you decide, the higher the rate you lock in for the coming months.
Use our comparison tools: current deposit ranking and savings account ranking — data is updated in real time and will show you the best offer for your amount and time horizon. Filter, compare and make your money work harder.