Konto Oszczędnościowe Profit

Konto Oszczędnościowe Profit at Bank Millennium - review

Konto Oszczędnościowe Profit is Bank Millennium's offer for people who want to keep spare cash in a flexible, interest-bearing product without locking it up for a fixed term. This is a savings account, not a term deposit - the money is available at any time, and deposits or withdrawals don't cause you to lose interest already accrued. It works best as a place for an emergency fund or money set aside for short- and medium-term goals, for people willing to actively use a card or BLIK in exchange for a higher rate.

Interest rate

The nominal rate reaches 5.25% per year, but it only covers part of your money. In the current edition of the "Nowe środki na Koncie Oszczędnościowym Profit" promotion (sign-up from 11.09.2026 to 21.10.2026) the bank applies these rates:

• new funds up to PLN 200,000, when the activity condition is met: 5.25% per year for accounts opened on 5.09.2026 or later, or 4.25% for accounts opened by 4.09.2026,
• new funds up to PLN 200,000 with no extra conditions: 1.5% per year,
• anything above PLN 200,000 and money that is not new: the standard rate, currently just 0.50% per year.

In practice, the 5.25% rate covers only new money brought into the bank - the bank compares balances on 4.09.2026 on the Profit savings account and on all your accounts and deposits at Millennium, and counts the smaller of the two surpluses as new funds. Interest is capitalized monthly.

Crucially, the 5.25% rate is promotional, not permanent. The higher rate applies for 91 days from the day new funds are first credited to the account during the sign-up period. To get 5.25% (or 4.25%) you must make at least five card or BLIK payments linked to your personal account in every month of the promotion. If you don't meet that condition, new funds earn 1.5% per year. After the 91-day promotional period, your money earns the standard rate (currently 0.50%).

Terms and fees

Konto Oszczędnościowe Profit is fee-free to maintain - the account maintenance fee is PLN 0, regardless of balance or activity. This is a permanent absence of a maintenance fee, not a conditional waiver.

A notable limitation, however, is the requirement to hold a personal account with Bank Millennium - the bank says that if you don't have a personal account with it, you open Konto Millennium 360° together with the Profit savings account. For someone who isn't yet a Millennium customer, this means opening two products at once, which complicates the process compared with banks offering standalone savings accounts. The first transfer each month from the savings account to your own personal account at Millennium is free, while the second and every further transfer in a month costs PLN 9.90 (for accounts opened from 25.04.2022) - if you plan frequent withdrawals, factor this into your assessment of the product.

Pros and cons

Pros

• High 5.25% interest rate on new funds up to PLN 200,000
• No account maintenance fees
• Monthly interest capitalization
• Full liquidity - funds available at any time without losing interest

Cons

• The promotional rate only lasts 91 days from the first deposit of new funds
• Requires at least 5 card or BLIK payments in every month of the promotion (otherwise 1.5%)
• Requires a personal account with Bank Millennium
• Balances above PLN 200,000 earn only 0.50%
• The second and each further transfer in a month costs PLN 9.90

Summary

Bank Millennium's Konto Oszczędnościowe Profit is a sensible option for people who already are (or plan to become) customers of the bank, have new money to deposit and accept the active promotion terms - regular card or BLIK payments in exchange for 5.25% on new funds up to PLN 200,000 for 91 days. No maintenance fees and monthly capitalization are real advantages, but keep in mind that the advertised rate is temporary and conditional - after the promotional period ends, and on any amount above PLN 200,000, the rate drops to 0.50%. If you don't have a Millennium personal account and don't want to make regular card/BLIK payments, consider products with simpler terms.