Top Deposit Rates Return to 7% in July Despite Cuts at Several Banks

July’s ranking of the best quarterly deposits by Bankier.pl brought a mix of positive surprises and slight disappointments, as top interest rates returned to 7% for the first time in months, while some banks lowered their offers.

The biggest headline is the comeback of Credit Agricole’s Lokata Powitalna (Welcome Deposit), which now shares the top spot with Alior Bank’s Lokata na Start (Start Deposit). Both deposits offer an impressive 7% annual interest rate but are available only to new clients under specific conditions.

Alior Bank’s Start Deposit applies to amounts between PLN 1,000 and PLN 30,000. To qualify, customers must open a personal account and agree to receive marketing communications. Credit Agricole’s offer applies to a wider deposit range — from PLN 1,000 up to PLN 50,000 — but also comes with more requirements: customers must open an account, accept marketing terms, log into the mobile app monthly, and make at least five non-cash transactions each month.

In second place is Citi Handlowy with a 6.7% annual interest rate on its Promotional Deposit, offered to new clients who open a Citigold account. To access the rate, a daily balance of at least PLN 420,000 must be maintained. Eligible deposits range from PLN 20,000 to PLN 220,000.

Third place goes to Volkswagen Bank GmbH’s Lokata Plus, offering 6.5% annually for account holders. This option allows deposits from PLN 1,000 to PLN 2 million.

However, not all changes were positive. BOŚ Bank reduced its rate on the New Funds Deposit from 5.00% to 4.90%. Renault Bank cut its rate from 6.50% to 6.25%, and Toyota Bank lowered theirs from 6.10% to 5.80%. Additionally, Raiffeisen Digital Bank’s promotional offer was withdrawn at the end of June.

Despite some declines, the average rate among the top five deposits rose slightly to 6.69%, reinforcing that attractive savings options are still available for Polish depositors.

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 corporate tax advisory, or contact us for a free consultation.