Top Savings Accounts in Poland: VeloBank Leads the Pack

For those seeking attractive returns on savings, VeloBank’s Flexible Savings Account has emerged as the top choice in a recent ranking. Offering a competitive 7% annual interest rate, this account stands out for its terms, which are geared toward new customers. The account can be opened via remote channels, provided the customer agrees to marketing consent. This rate applies to balances up to PLN 100,000 and is valid for 92 days.

Securing second place is the Indexed Savings Account from Toyota Bank, with an interest rate of 5.85% per annum. Unlike VeloBank, this account doesn’t require meeting specific conditions, but it does come with a monthly maintenance fee of PLN 30. However, the fee is waived if no withdrawals are made within a given month. The rate is applicable until the end of the year and covers balances up to PLN 400,000.

In third place are three accounts offering a 5% annual interest rate: Alior Bank’s Mega Savings Account (non-personal account variant), PKO BP’s Savings Account Plus, and Volkswagen Bank GmbH’s Plus Account in Poland. Both Alior Bank and PKO BP require new funds to qualify for the promotional rate, with limits of PLN 50,000 and PLN 250,000, respectively. Volkswagen Bank’s Plus Account requires a minimum deposit of PLN 50,000 to secure the full 5% rate, with lower rates applying to smaller balances. Deposits with Volkswagen Bank are protected under the German deposit guarantee system.

The ranking highlights various options catering to different financial needs, with interest rates below 5% available for accounts outside the top tier. Savers should evaluate the terms and conditions carefully to maximize their returns.

Implications for Banking and Business

Developments in the Polish banking sector affect businesses operating in the country in several ways. Access to corporate banking services, credit availability, deposit rates, and payment infrastructure are all critical factors for companies — whether established Polish firms or foreign-owned entities entering the market.

For foreign entrepreneurs setting up operations in Poland, choosing the right banking partner is a strategic decision. Major Polish banks including mBank, ING Bank Śląski, Bank Millennium, PKO BP, and Santander Poland offer varying levels of service for international clients, including English-language online banking, multicurrency accounts, and dedicated relationship managers for corporate clients.

The Polish banking market is well-regulated by the KNF (Financial Supervision Authority) and participates in the EU deposit guarantee scheme (BFG — Bank Guarantee Fund), providing deposit protection up to EUR 100,000 per depositor per institution. This regulatory framework provides stability and confidence for businesses maintaining corporate funds in Polish banks.

If you are doing business in Poland or considering entering the Polish market, Zalewski Consulting can help. Learn more about our personal income tax advisory, or contact us for a free consultation.