Lokata na Start

Lokata na Start — A Short-Term Way to Save at Inbank

Lokata na Start is a savings product from the Estonian bank Inbank, aimed at people looking for a short-term, safe way to place small or medium savings without needing to open a personal account at this bank. It is a deposit for a fixed 6-month term, with a single fixed interest rate applying for the entire duration of the agreement — with no risk of the rate falling during the deposit's term as interest rates change.

Interest Rate

Lokata na Start offers a fixed interest rate of 4.50% per annum for funds deposited in the range from PLN 1,000 to PLN 50,000. However, it's worth noting one important threshold: any surplus above PLN 50,000 earns interest at 0% — the bank therefore only pays interest on the amount up to PLN 50,000, and every złoty above this limit generates no return at all. People with larger savings should therefore consider splitting their funds across several products instead of depositing the whole amount into a single deposit.

The bank's website further indicates that the stated rate is an offer for a so-called New Customer — that is, someone for whom Lokata na Start is the first deposit opened at Inbank. If the new-customer condition is not met, the bank may reduce the interest rate within 30 days of concluding the agreement. The bank's website does not give a clear end date for this promotional offer, so it's worth checking the current terms directly on Inbank's website before opening the deposit.

The interest rate is fixed (it does not change in response to central bank rate decisions during the term of the agreement), and interest is not compounded during the deposit's term — the entire amount of interest is paid out only at the end of the 6-month period.

Terms and Availability

The minimum amount that can be deposited is PLN 1,000, the maximum is PLN 50,000 (above this amount, as described above, the surplus earns no interest). The deposit is available to adults (18 years old and above). Importantly, opening Lokata na Start does not require holding a personal account at Inbank — the bank itself emphasizes on its website that it offers "a high interest rate with no need to open an account." The product is opened via online banking or the bank's transaction system.

It's also worth knowing that Inbank is a bank registered in Estonia, and funds in the deposit are covered by the Estonian deposit guarantee scheme (Tagatisfond) up to the equivalent of EUR 100,000 — similarly to how the Polish Bank Guarantee Fund (BFG) protects deposits at domestic banks, though formally it is a different guarantee institution from the BFG.

Pros and Cons

• Pros:

• Fixed interest rate of 4.50% for the entire 6-month term, with no risk of a reduction during the agreement
• Low entry threshold — from as little as PLN 1,000
• No need to open a personal account at the bank
• Funds covered by deposit guarantees up to EUR 100,000 (Estonian Tagatisfond)
• Simple, fully remote opening process via online banking

• Cons:

• Interest-bearing amount is capped — any surplus above PLN 50,000 earns no interest at all
• The promotional rate is reserved for New Customers (first deposit at Inbank) — the bank's website does not give an end date for the promotion, nor does it clearly state the rate for customers who don't meet this condition
• Interest is paid only at the end of the term, rather than compounded during the deposit
• The deposit guarantee comes from the Estonian scheme, not the Polish BFG, which may be a less familiar arrangement for some customers

Summary

Lokata na Start is a solid proposition for people who want to safely place PLN 1,000 to PLN 50,000 for six months at a fixed interest rate of 4.50% per annum, without opening an additional account. However, two caveats should be kept in mind: the offer at this rate is primarily aimed at new customers of the bank, and any amount above PLN 50,000 in this deposit earns no interest. For people within this limit who are opening their first deposit at Inbank, it is nonetheless an attractive, simple, and fully remote form of saving.