Bank Deposits — Deposit Ranking 2026

What is a bank deposit (fixed-term deposit)?

A bank deposit is a savings product in which you place a set amount of money for a fixed period (from 1 month to several years) in exchange for guaranteed interest. At the end of the deposit term, the bank returns the deposited principal plus the accrued interest. Deposits offer higher interest rates than savings accounts, but require locking up your funds.

How do I calculate interest on a deposit?

Deposit interest is calculated using the formula: amount × rate × (number of days / 365). The bank deducts 19% withholding tax (the "Belka tax") from the accrued interest. For example, a PLN 10,000 deposit for 12 months at 5% will earn approximately PLN 500 gross, or about PLN 405 net after the tax deduction.

Is a bank deposit safe?

Yes, deposits held at banks operating in Poland are covered by the Bank Guarantee Fund (BGF) up to the equivalent of EUR 100,000 per person per bank. The guarantee covers both the principal and accrued interest. The BGF pays out funds within 7 business days from the date a bank suspends its operations.

Fixed deposit vs. savings account — which should I choose?

A fixed deposit offers a higher, guaranteed interest rate, but requires locking up your funds for a set period — early withdrawal means losing the interest. A savings account gives you flexibility and access to your money, but the rate is lower and variable. The optimal strategy is to combine both: keep part of your funds in a deposit and maintain a financial cushion in a savings account.

Can I break a deposit before it matures?

Yes, you can break a deposit at any time, but this usually results in losing all or part of the accrued interest. Most banks will only return the principal without any interest upon early termination. Some banks offer deposits with partial interest payout on early termination — it is worth checking the terms and conditions before opening a deposit.