Savings Account is a complementary product to a current account * that enables you to save your free money at higher interest rate simply, quickly and effectively, while keeping it still available. In addition, your money on Savings account is protected under Deposit Protection Act .
*applies on VUB account, Magnifica account and Start Generation holders
Benefits of the Savings Account
• you will be rewarded for your regular savings of at least 10 EUR with higher interest rate of 0.50% p.a.*
• you can open up to 5 savings accounts to one personal account
• your money is always available
• your account is maintained and money is transferred free of charge
• if you set up standing order you can get the benefit of higher interest rate per month
• you can change monthly payments according to your needs
• you can benefit from complementary Flexi Transfer and Flexi Savings services to your account which enable you to save easily and more effectively
• you can always manage your savings accounts via Internet and Mobil banking
• open your saving account simply online
*up to balance of 20, 000 EUR
Terms and conditions for higher interest rate *
• regular monthly payments to savings account in the amount of 10 – 1, 000 EUR
• no debit transactions in a given calendar month
* interest rate of 0.00% p.a. on balances over 20, 000 EUR
What is Flexisaving?
- saving in small amounts from money in client’s Flexiaccount or Start Generation account when making card payments
- rounding of each amount of purchase according to client’s request to the whole EUR 1, 5 or 10 and free transfer of this difference to the Savings Account with advantageous interest rate
- convenient saving without a notice period and fees
- simple access to money through Flexiaccount or Start Generation account
How does it work?
Example of Flexisaving, if a client decide to pay with a payment card with rounding to whole EUR 5. Your savings per month may look like this:
|Payment with a card for||Amount for one purchase||Saving for one purchase|
|5× purchase of food||€ 27.26||€ 2.74|
|Dinner at a restaurant||€ 13.21||€ 1.79|
|2× purchase of hygiene products||€ 16.48||€ 3.52|
|New T-shirt||€ 22.19||€ 2.81|
|2× petrol/diesel||€ 31.67||€ 3.33|
What is Flexi transfer?
automatic transfer of funds from an Fexiaccount or Start Generation to a Savings Account
How does it work?
- you choose the minimum amount you need to have available in your current account; you can have the remaining part automatically transferred to your Savings Account with a favourable interest rate
- you can choose any amount of the automatic transfer rounded to whole tens of euros at any time
- no fees are charged for payments made through the automatic transfer, i.e. transfers are free for the current account as well as the Savings Account
|Savings Account for Flexiaccount/Start Generation||% (p.a.)|
|Balance <= EUR 20,000*||0.50|
|Balance > EUR 20,000*||0.00|
* Split rate - a type of the interest rate where individual layers of account balance pay a different interest rate. An amount up to EUR 30,000, including, pays the interest of 0.50% p.a. and an amount exceeding EUR 20,000 pay the interest of 0.00% p.a.