Term Deposit or Savings Account - Which Pays More?
This question resurfaces every few months as banks push up promotional rates to attract new customers. There is no single right answer - it depends on whether you can afford to lock your money away for several months, or whether you need access to it at any time. Let's look at the concrete, current numbers from the BankSorter offer database.
The highest savings account rates right now
Savings accounts tempt with high promotional rates, but they almost always apply only for a limited time and up to a limited amount. Here is the current lineup:
- Bank Pekao, Konto oszczędnościowe - 5.7% promo up to PLN 100,000, then drops to 0.5%. Conditions: new or inactive customers only, minimum 5 transactions a month, promo lasts 92 days.
- Crédit Agricole, Rachunek Oszczędzam Plus - 5.5% up to PLN 100,000 for 100 days, requires opening an account package as a new customer.
- Bank Millennium, Konto Oszczędnościowe Profit - 5.25% up to PLN 200,000 for 91 days, new funds only.
- VeloBank, new-funds offer - 4.5% up to PLN 400,000 for 92 days.
- mBank, eKonto oszczędnościowe - 4.1% up to PLN 500,000 for 3 months.
- UniCredit, Konto oszczędnościowe - 4.0% up to PLN 100,000.
The common thread: the high rate is a promotion on new money, limited in both time (91–100 days in every case above) and amount. After that window the rate reverts to the bank's base rate, which can be minimal. Find the full, up-to-date list along with a net-return calculator on the savings accounts page, and a ranking of the current best offers in the savings account ranking.
The highest term deposit rates right now
Term deposits work differently - the rate is fixed for the entire agreed term, regardless of what the bank does with its offer afterwards. Current lineup:
- Nest Bank, Nest Lokata Witaj - 6.1% for 6 months, PLN 1,000–25,000.
- VeloBank, VeloLokata dla Aktywnych - 6.0% for 6 months, PLN 1,000–50,000.
- Crédit Agricole, Lokata Powitalna - 5.5% for 1 month, PLN 1,000–100,000.
- Inbank, Lokata na Start - 4.5% for 6 months, PLN 1,000–50,000.
- Erste, Lokata na Powitanie - 4.5% for 3 months, PLN 1,000–50,000.
- Raiffeisen, Lokata dla Ciebie - 3.7% for as long as 36 months, PLN 100–1,000,000.
See the full deposit comparison, including minimum and maximum amounts, on the deposits page or in the best deposits ranking.
Liquidity versus a guaranteed rate
Savings account: access to your money at any time
The biggest advantage of a savings account is liquidity - you can deposit and withdraw funds without losing interest already accrued. That matters if you are not sure whether you will need the money for an unplanned expense in two months. The catch is timing: the high promotional rates in our list (5.25–5.7%) only apply for 91–100 days. Leave the money there longer without acting, and you will earn considerably less once the rate drops to the base level.
Term deposit: the rate is locked together with your money
A term deposit works the opposite way. The bank guarantees you a specific rate for the whole declared period - 1, 3, 6, or even 36 months, as in the Raiffeisen offer. Nothing changes even if the bank cuts its rate for new customers a week after you open your deposit. The price of that certainty is losing access to your funds - breaking a deposit early usually means losing some or all of the accrued interest, so a term deposit is not a good place for an emergency fund you might need to tap at any moment.
When each option pays off more
If you have money you are certain you will not need for the next 6 months, the math is straightforward: Nest Lokata Witaj (6.1%/6 months) or VeloLokata dla Aktywnych (6.0%/6 months) will give you a higher guaranteed rate for the whole period than a promotional savings account, which drops to its base rate after roughly 3 months anyway. For example, PLN 20,000 in a Nest deposit at 6.1% for half a year is a different, guaranteed outcome than PLN 20,000 in a Bank Pekao account, where the high rate effectively works for only the first three of the six months.
On the other hand, if you are not sure whether you will need the money sooner - say you are still building an emergency fund, or expecting a larger expense at an unknown date - a savings account with a strong promo (Bank Pekao's 5.7% or Crédit Agricole's 5.5%) offers a comparable rate while keeping full liquidity. The only risk is that after 91–100 days you will need to move the funds yourself to another promotion or accept the lower base rate.
Run the numbers yourself
These calculations depend on your amount, your time horizon, and whether you can realistically meet the promo conditions (transaction count, new-customer status). On the full savings accounts list you will find a calculator that works out the real net return for your specific amount and horizon - instead of guessing, you will see an exact figure.
Summary
There is no single correct answer to the question in the title. A term deposit wins when you can lock away your funds for the full declared period and value rate certainty - the best offers in our list (6.0–6.1% for 6 months) beat almost any savings account once you factor in the post-promo rate drop. A savings account wins when liquidity matters more to you than the last fraction of a percentage point, or when you are not sure when you will need to withdraw. Check the current offers and run your own numbers in the calculator at /en/savings-accounts - it takes a few minutes and can make a real difference to what you actually earn on your savings.
Product data verified: 22 September 2026, source: BankSorter offer database.