"New funds" - two words that can decide your interest rate
If you have recently browsed savings account offers, you have almost certainly come across the phrase "promotion for new funds". It sounds precise, doesn't it? In practice, it is one of the most misleading phrases in retail banking marketing - because almost no bank explains what it actually means. Does it count the balance from a month ago? From the day you opened the promotion? From a year ago? We checked the descriptions of three current offers, and none of them gave a clear answer.
Three banks, the same problem
Below are exact quotes from the promotional descriptions of three savings accounts currently on the market. All three talk about "new funds", but none defines a comparison threshold.
Bank Millennium - Konto Oszczędnościowe Profit, 5.25%
The offer description states: "The stated rate is granted for new funds". That is all. There is no information about which date the bank uses as the reference point for "new" - whether it means funds above the balance on the day the account was opened, above the balance at the end of the previous month, or above the balance on the day the specific promotion started. For a customer who already holds savings at another bank and plans to transfer them, this is a real risk: you might open the account expecting 5.25%, only to find out afterwards that part of your deposit was not recognised as "new".
VeloBank - "New funds in the Flexible Savings Account", 4.5%
VeloBank phrases it even more tersely: "Offer for existing customers depositing new funds... Only for new funds". The word "only" suggests the bank strictly enforces this rule - but again, it does not say how it will verify it. Does it compare the end-of-month balance, or does it monitor deposit and withdrawal history in real time? Without that information, it is hard to know whether a planned transfer will actually qualify for the higher rate.
mBank - eKonto oszczędnościowe, 4.1%
The third example reads almost identically: "New customers and existing customers who deposit new funds can benefit from the higher rate". Again, no comparison threshold. mBank at least distinguishes between two groups - new and existing customers - which is a step towards clarity, but the definition of "new funds" itself remains just as vague as with the competition.
Why this is a real problem, not nitpicking
You might think this is a minor detail - after all, the bank will pay some interest regardless. The problem is that the gap between a promotional rate and the base rate can be huge. If you plan to transfer savings worth several tens of thousands of zloty, expecting 5.25% instead of, say, a 1-2% base rate, and the bank decides your deposit does not count as "new", the real loss in annual interest could run into several hundred zloty. This is not a theoretical scenario - it is a concrete risk that comes directly from the lack of precision in how these offers are communicated.
In practice, this means one thing: the marketing description alone is not enough. Before depositing money expecting a promotional rate, you should:
- Read the full promotion terms and conditions, not just the shortened description on the bank's website - that is where (if anywhere) the definition of "new funds" should appear.
- Call the helpline or ask an advisor directly: "which date and which balance do you use as the reference point for new funds?"
- Ask whether the threshold is checked once, or whether you need to maintain the higher balance throughout the entire promotional period.
- Check whether the promotion also covers funds you previously held at the same bank in a different product (for example, a current account).
What a clear definition should look like - the Bank Pekao example
It is worth comparing the examples above with the offer from Bank Pekao (Konto oszczędnościowe, 5.7%), which shows that precise promotional conditions can be formulated - even when the mechanism differs from a literal "new funds" wording. Pekao excludes from the promotion anyone who already held a current or savings account at the bank, or whose monthly balance on such an account exceeded PLN 200 at any point between 1 January 2025 and 19 August 2026.
Notice the difference: this is not the same construction as "new funds" - Pekao is not talking about freshly deposited money, but about customer status and historical balance over a specific, closed period. What matters is that the condition can actually be checked: there is a concrete start date, a concrete end date, and a concrete threshold amount. You do not need to guess or call a helpline to find out whether you qualify - you just need to check your own account history for that period.
What you should do
The phrase "new funds" is not, by itself, deceptive - it is a marketing shorthand banks use to encourage customers to move savings away from the competition. The problem starts when that shorthand is never spelled out into a concrete, checkable rule. Before choosing a promotional savings account, always look for an answer to the question "what is the new deposit measured against" - and if you cannot find it in the terms and conditions, ask the bank in writing, so you have proof in case of a dispute over the interest credited.
Want to see which savings accounts currently offer the highest real interest rate and how they compare on other terms? Check our savings account ranking and compare offers before you decide.
Product data verified: 22 September 2026, source: BankSorter offer database.