Compare deposits in Poland

It is a 19% tax on capital income, automatically deducted by the bank when interest is paid. Example: a 5% deposit on 10,000 PLN for one year → 500 PLN gross interest → 95 PLN tax → 405 PLN net (effective rate: 4.05%).

A term deposit locks your funds for a set period – early withdrawal usually means losing some or all of the interest. A savings account allows you to withdraw at any time without penalty, but typically offers a lower rate.

Early withdrawal conditions are set out in the contract – most commonly the bank pays 0% interest or only the interest accrued to date at a reduced rate. Always check this clause before signing.

Yes – the Bank Guarantee Fund (BGF/BFG) guarantees repayment of up to the equivalent of €100,000 per person per bank in the event of insolvency. This covers both deposits and account balances. Amounts above the limit are not protected.

When you want access to your funds without consequences, when you are building an emergency fund, or when you don't know when you will need the money. Deposits are better for savings earmarked for a specific goal – they usually offer higher rates in exchange for less liquidity.

With a fixed rate, the interest rate stays the same for the entire term of the deposit, so you can calculate the exact profit in advance. With a variable rate, the bank can raise or lower the rate during the term, usually depending on NBP interest rates. This means more uncertainty, but also a chance of a higher return if rates rise.

Capitalisation is the moment when accrued interest is added to the deposit's principal – this can happen daily, monthly, quarterly, or only once at the end of the term. More frequent capitalisation gives a slightly higher effective return, because the added interest itself starts earning further interest.

Not always. Branches of banks from other EU countries are covered by the deposit guarantee scheme of the country where the bank is headquartered (also up to the equivalent of €100,000), not the Polish BFG. You can find out which fund covers a specific bank in its depositor information sheet, which the bank is required to provide.

No, if the deposit is held at a bank operating in Poland – the bank, as the withholding agent, deducts the 19% tax itself when paying out interest and remits it to the tax office, so you don't report this income in your return. You only need to declare it yourself if the tax was not withheld by the payer, which mainly applies to interest earned abroad.

Together. The €100,000 limit applies to the total of all funds a single depositor holds at a single bank – meaning all deposits, accounts and balances combined, not each product separately. If you have more savings than that, spreading them across different banks increases the scope of protection.

The high rate in such offers usually applies only for a short period (most often 1–3 months) and only up to a certain amount – any surplus, or the funds once the promotion ends, earn a much lower rate. Also check whether the offer requires opening a personal account or depositing 'new funds' (money you haven't previously held at that bank).

No, most banks let you open a deposit online through internet or mobile banking, and some also by phone. Opening one in a branch is still possible, but increasingly unnecessary – banks often reward deposits opened online with a higher interest rate.

As a rule, within 7 business days of the date the guarantee condition is met (the bank's insolvency is announced). This deadline can be extended in cases set out in the BFG Act, for example when funds come from a joint account or entitlements need to be verified. If the payout doesn't arrive on time, contact BFG, as the claim can become time-barred.

The €100,000 limit applies to each co-holder of a joint account separately, not to the account as a whole. For two people this means combined protection of up to €200,000 on that account. An exception applies to accounts of partnerships, associations and similar entities without legal personality – their funds are treated as the deposit of a single depositor.

Yes. For individuals, BFG can raise the protection up to the equivalent of EUR 200,000, but only for the amount above the base limit, and only for funds that reached the account no later than 3 months before the guarantee event. This applies, for example, to money from selling a non-business home or flat, the division of marital property, inheritance, life or accident insurance payouts, and statutory retirement or disability severance pay. The extra amount is paid out at the depositor's request.

No. A standard term deposit is a closed product: once you sign the contract you deposit a fixed amount and cannot add to it later or make a further payment into the same deposit. The only way to place extra savings is to open another, separate deposit.