Get 3.00% AER with a Demand Deposit Account from Izola Bank
Country:
Malta
Interest paid out quarterly
You can easily set up a regular savings plan
No fees or hidden charges
Rate
Term
Currency
Product Type
Gross rate
3.00%
AER
3.00%
Compound interest
No
Availability
Payments in and out your Raisin account will occur weekly on Friday
Interest capitalisation?
Every quarter
Interest type
Variable - The rate may change at any time. We will let you know any about changes in advance.
Open a Raisin Account with Raisin Bank to get access to this savings account. No fees, no hassle!
1
Open a Raisin Account
Sign up for a Raisin Account and complete our straightforward online indentification process to get started.
2
Choose a savings account
Choose a savings account, decide the amount you wish to deposit, and submit your application. With over 100 savings accounts from more than 20 banks across Europe, there's something for everyone.
3
Start saving!
Then, securely transfer the amount you wish to save to your Raisin Account, and we’ll take care of the rest. Start making your savings work for you today!
Our offers
Rate
Term
Currency
Product Type
About the Bank
Izola Bank, based in Malta, was established in 1994 as a specialist provider of financial services to the business community. Initially focused on trade finance and payment services for businesses operating in Malta, it has expanded its services to cater to a broader European clientele. Izola Bank operates primarily online, offering a range of products including savings accounts, term deposits, and various types of loans. It is known for its competitive interest rates on savings and deposits. The bank emphasizes customer service and technological innovation, aiming to provide efficient and user-friendly banking solutions. Regulated by the Malta Financial Services Authority (MFSA), Izola Bank adheres to strict European banking standards, ensuring security and reliability for its customers. It continues to leverage its niche expertise to grow within the European financial market.
Deposit Guarantee Scheme
Deposits including accrued interest income are legally protected by the Maltese Deposit Protection Fund up to an amount of EUR 100,000 per customer and per bank. Within the European Union, the minimum requirements are harmonized in all member states by Directives 94/19/EC, 2009/14/EC and 2014/49/EU. Please note: This protection relates to a customer's entire deposits with a bank. This is especially relevant if you have other funds deposited with the bank outside of what you plan to deposit via Raisin Bank.
Tax process and documentation
Malta does not levy withholding tax on non-residents, i.e. you are automatically exempt from withholding tax and do not have to do anything else.
Raisin Bank's role
With Raisin Bank, one login gives you access to competitive savings accounts from banks across Europe, allowing your savings to work even harder. No fees, no paperwork: saving with Raisin Bank is online and hassle-free.
Frequently asked questions
How are my savings protected?
All deposits at Raisin Bank AG and our partner banks are protected by European Deposit Guarantee Schemes up to €100,000 (or the equivalent amount in the respective national currency) per customer and per bank. Our system will not allow you to put more money into one account/bank than is covered by these schemes, meaning you can save with peace of mind.
Across Europe, national Deposit Guarantee Funds must meet the minimum requirements laid out (see Directives 94/19/EC, 2009/14/EC and 2014/49/EU). You can read more here.
Across Europe, national Deposit Guarantee Funds must meet the minimum requirements laid out (see Directives 94/19/EC, 2009/14/EC and 2014/49/EU). You can read more here.
How do I register for a Raisin Account?
To become a Raisin Bank customer you must first open a Raisin Account. The process is very simple and can be completed 100% online. You can now complete the process with the Raisin Bank App, it's never been easier!
Click here for a step-by-step guide on the registration process.
Click here for a step-by-step guide on the registration process.
What is Raisin Bank's role?
Raisin Bank gives you access to deposit and savings accounts from banks across Europe. Over 1 million European customers already saved more than €60 billion with Raisin Bank's partner banks.
To save with our partner banks, you must open a free 'Raisin Account'. From there you can open and manage as many savings accounts as you wish. Ideal if you want to spread your savings across different accounts, banks and countries!
To save with our partner banks, you must open a free 'Raisin Account'. From there you can open and manage as many savings accounts as you wish. Ideal if you want to spread your savings across different accounts, banks and countries!
What are the minimum and maximum amounts I can save?
The minimum and maximum balance vary depending on the savings account. For more information, please check the details of the savings account you wish to open and take a look at the Product Information Sheet.
Are there any fees?
Raisin Bank's service are completely free of charge. This includes opening and maintaining your Raisin Account, managing your bank transers and sending statements. As well as a dedciated our Customer Service team for Irish customers.
What is a Deposit account?
A Deposit account is a savings product which allows you to make an investment of a certain amount for a fixed period of time and at a fixed interest rate, with all parameters being agreed to before entering into the contract.
At Raisin Bank, we offer terms ranging from 3 months to 5 years. As a general rule, the interest you will earn will be higher the longer the period for which you deposit your money.
We also offer Demand Deposit account which allow you to access your savings whenever you need them!
At Raisin Bank, we offer terms ranging from 3 months to 5 years. As a general rule, the interest you will earn will be higher the longer the period for which you deposit your money.
We also offer Demand Deposit account which allow you to access your savings whenever you need them!
What are the tax implications when saving in Europe?
As a resident of Ireland, you will have to declare any interest you earn from deposits. Deposit interest is liable to Deposit interest retention tax (DIRT).
Any foreign tax you may pay on interest earned in Europe can be easily deducted from your DIRT liability when making your annual tax return to Revenue.
To find out more about how the products you take out with Raisin Bank are taxed, please take a look at our taxes guide We also encourage customers to seek independent tax advice if they are unsure about the implications.
Any foreign tax you may pay on interest earned in Europe can be easily deducted from your DIRT liability when making your annual tax return to Revenue.
To find out more about how the products you take out with Raisin Bank are taxed, please take a look at our taxes guide We also encourage customers to seek independent tax advice if they are unsure about the implications.
Does Raisin withhold tax automatically?
No – Raisin Bank does not withhold any taxes. You must declare interest earned in your annual tax return with Revenue. We will however provide you with documentation showing exactly how much interest you earned.
We encourage our customers to seek independent tax advice or any taxation queries.
We encourage our customers to seek independent tax advice or any taxation queries.