"Nowe środki na Elastycznym Koncie Oszczędnościowym"

VeloBank – "New Funds in the Flexible Savings Account"

This is a VeloBank savings account aimed exclusively at existing bank clients who want to place additional, freshly deposited funds for a short period at a relatively high interest rate. Unlike a term deposit, there is no maturity date or locking up of capital here — the money can be withdrawn at any time without losing the interest accrued up to that day. The product's name itself — "new funds" — is key: the increased interest rate applies only to new deposits, not to the entirety of savings already held at the bank.

Interest rate

According to the bank's current promotional offer, new funds deposited into the account earn 6% per annum for amounts up to PLN 50,000 and 4% for the excess above PLN 50,000 up to PLN 400,000. For higher amounts the interest rate decreases further — in the range from PLN 400,000.01 to PLN 1,000,000 it is 1.5%, and above PLN 1,000,000 it drops to 0%. Interest is capitalised monthly.

It is worth emphasising that the rates given above are not unconditional. The bank literally states: "An offer for existing clients depositing new funds who will make at least 5 non-cash transactions from their personal account per month. Promotional interest rate for 92 days from the date the account is opened. After that, the standard interest rate applies. Only for new funds. Consent to marketing contact from the bank is required." In other words — the promotional interest rate applies only for 92 days, only to newly deposited money, and only when the client actively uses their personal account at VeloBank (at least 5 card or BLIK payments per month). According to the bank's promotional materials, failing to meet the transaction condition in a given month lowers the interest rate for that period to just 2%. Once the 92-day promotional period ends, the funds move to the account's standard interest rate — the bank does not specify its exact level in the promotional materials.

Terms and fees

The account charges no fees for opening, maintenance, or internal transfers (PLN 0). However, to use this promotion at all, you must already be a VeloBank client and hold a personal account at this bank — the required non-cash transactions are counted on that account, and the deposited "new funds" go into a separate savings account. Under the terms of the promotion, new funds must be deposited by 16 September 2026 at the latest, and the offer can be used by clients who have not held a savings account at VeloBank since 31 December 2023. Opening the account requires being of legal age (minimum 18 years old), and receiving the increased interest rate also requires giving consent to marketing contact from the bank.

Pros and cons

The product's biggest advantage is its high interest rate for a savings account, 6% per annum — but only for the first PLN 50,000 of newly deposited funds and only for a limited time. No fees for maintenance and internal transfers, plus full flexibility of withdrawals (with no locking up of capital typical of a term deposit), are further strong points. On the other hand, the offer is heavily conditional: it requires actively using the personal account, applies only to new deposits, lasts just 92 days, and after that period the interest rate drops to the standard level. For larger savings — above PLN 400,000 — the rate drops sharply, making the product not very attractive for clients with substantial capital.

Summary

"New Funds in the Flexible Savings Account" from VeloBank is a good proposal for existing bank clients who have several tens of thousands of zloty in spare, fresh funds and are able to maintain minimal transaction activity on their personal account for a few months. The real benefit is primarily a higher-than-standard interest rate within a short, 92-day window for amounts up to PLN 50,000 — however, the headline rate of 6% should not be treated as guaranteed and unconditional, nor should you count on it for larger amounts or after the promotional period ends.