Savings & deposits

Deposits, bonds and FX rates — before you park your money

A bank deposit is the simplest way to save, but you pay the 19% Belka tax on the gain. So compare net rates, not the advertised gross: a deposit at 6% really gives you about 4.86% in hand. The highest rates are reserved for new customers and new money — an old deposit that rolls over automatically usually drops to a token percentage, so watch the maturity dates.

Polish government bonds are an alternative that convinces some people more. Retail inflation-indexed bonds (the four- and ten-year EDO series) protect the value of your money when prices rise, and the rate for the first year is known up front. The downside is liquidity: an early buyback costs a fee, so this is a tool for years, not for an emergency cushion.

With deposits, safety matters too: money held at banks covered by the Polish Bank Guarantee Fund (BFG) is protected up to the equivalent of 100 000 EUR per person, per bank. That's a real edge over investment products, which don't carry the same guarantee — at larger amounts, splitting your money across several banks keeps the whole sum within the safe limit.

FX rates and metal prices here are indicative, targeting the NBP (Polish central bank) mid-rate. One closing tip: if you have expensive debt unpaid, no deposit and no bond is worth it — a loan at 14% costs you more than any safe investment can earn.

Related sources and guides

Current Treasury bonds are listed at obligacjeskarbowe.pl; the NBP reference rate that drives deposit yields is published by NBP. The Bank Guarantee Fund protects deposits up to EUR 100k — see bfg.pl. Banks are supervised by KNF.

On the editorial side: how RRSO is calculated and RRSO vs the nominal rate. Related product: consolidation when paying off expensive debt beats parking the money on a deposit.

Peer-to-peer lending platforms — investing from 10 EUR

Beyond deposits and bonds there is a third route: platforms where you fund consumer loans or property projects and earn the interest. Historical returns have ranged between 8 and 12% a year, well above a deposit. The catch? None of this money is covered by the BFG guarantee, and borrowers can stop paying. Put in surplus cash only, an amount you could afford to lose.

Our view on the right order: an emergency cushion on a deposit first, inflation-indexed bonds second, lending platforms last — and no more than 10–15% of your savings.

The links above are partner links — we earn a commission when you open an account. That does not change how we describe the risk. Your capital is at risk, and interest gains are taxed under the 19% Belka tax. Details in our affiliate disclosure.