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Izola Saver

Save money around your lifestyle.

 

About Izola Saver

Izola Saver is a non-regulated online savings account that gives you the flexibility of depositing or withdrawing funds as needed, whilst earning interest on the balance of your account. You can manage your account by using the Izola Saver Mobile App or the online banking platform.

Interested? We suggest you read the following information for a detailed product overview.

Return

2,25% (Gross) & 1,57% (Net) for Izola Saver clients in Belgium.

The interest rate on your Izola Saver account is variable so it can be changed at any time at Izola Bank’s discretion.

Want to check how much you can earn? Try our Savings Calculator.

Izola Saver has an indefinite duration. 

Rates are correct as at 01.03.2024

Customers are notified by email of any upcoming interest rate changes.

What is a non-regulated
savings account?

A non-regulated savings account is a savings account that does not fall under the regulations of a regulated savings account. It means that there is no obligation to split the interest rate in a base rate and a fidelity premium and the currency does not have to be necessarily in Euro. Interest is paid annually.

 

That also means, however, that the account is not exempt from withholding tax on the first €980 of interest. The applicable withholding tax is 30% and applies to the full amount of interest paid. Term deposit accounts also fall under the regulations of the ‘non-regulated savings account’.

 

Although these accounts are not regulated, they are still eligible under the Maltese Depositor Compensation Scheme up to a maximum of €100.000 per person.

Interest Receivable

Interest is calculated on a 360-day basis on the daily outstanding balance on your Izola Saver account at the end of the day and is credited annually to your Izola Saver account on 31st December or on the day when the account is closed.

Fees

There are no fees or charges for opening or maintaining an Izola Saver account.

Taxation

As Izola Saver (online savings account) and Izola Saver+ (term deposit accounts) are non-regulated, interest is paid to you as gross (without tax being deducted). Please note non-regulated savings account interests are subject to a 30% tax rate.

Your Choice

Choose how much you want to save and how long for. There is no limit on the duration of your Izola Saver account.

Start Small

You can open an Izola Saver account with just €25.

Fully Flexible

You can withdraw your funds whenever you like, without incurring any fees

Who Can Apply?

To be eligible to open an Izola Saver account you must be over 18 years of age and have a Principal Bank Account. A Principal Bank Account is an existing bank account held in your name with an established bank in Malta, Belgium or France, depending on your country of residency. Please note all applications are checked individually to ensure they meet Izola Bank’s eligibility criteria.

Please note the Izola Saver account is not available for corporate entities.

Easy to Manage

You can manage your account by using the Izola Saver Mobile App or the online banking platform.

Izola Saver Mobile App

The Izola Saver Mobile App gives you the flexibility of managing your savings on the move. You can view account balances, transfer funds into and out of your Principal Bank Account and you can open as many Izola Saver+ term deposit accounts as you like.

Statement

You will receive an annual paper statement of your Izola Saver account after each year end which will list all transactions into or out of the account for the preceding 12-month period.

Secure

Izola Saver is designed so that you can only transfer money into or from your Principal Bank Account. Money cannot be moved to a different account at any time, ensuring extra peace of mind.

Risks & Guarantees

Liquidity risk:

Izola Bank plc is a Bank licensed in Malta. Your savings and/or term accounts are protected up to €100.000 euros per saver by Malta Depositor Compensation Scheme. Savings above an amount of €100.000 euros are not protected and are therefore at risk in the unlikely event of bankruptcy. Such amounts exceeding €100.000 euros may be lost in whole or in part or converted into shares (bail-in) as decided by the regulator.

Inflation risk:

Due to the continuous increase in prices, your saved money may lose its purchasing power over time if inflation rates are in excess of the net interest rate earned. This risk is a general macroeconomic risk and not particularly associated with Izola Bank plc.

Izola Bank is based in Malta and is licensed by the Malta Financial Services Authority (MFSA) to carry out the business of banking in terms of the Banking Act, 1994 (Chapter 371, Laws of Malta).

The Malta Financial Services Authority (MFSA) is the single regulator for financial services activities in Malta. It regulates and supervises credit and financial institutions, investment, trust and insurance business and also houses the country's Companies Registry.

Izola Bank is participant in the Depositor Compensation Scheme in Malta. The Scheme offers protection of up to €100,000 as per provisions under Subsidiary Legislation 371.09, 44. Any funds in excess of €100.000 are not covered by the Depositor Compensation Scheme. In the event of bankruptcy, you run the risk of losing any deposits you have over €100.000.

All Izola Bank's and your rights and obligations shall be subject to Maltese law. The Courts of Malta shall have exclusive jurisdiction over all claims or disputes arising in the event of litigation.

 

You can open your account in minutes

We require some basic information about you, or you and your partner if you are opening a joint account. This includes information such as your name/s, address, identity card details and the IBAN number of the Principal Bank Account that you will link to your Izola Saver account.

If you are opening a joint Izola Saver account, you must link this online savings account to a Principal Bank Account that exists in both names.

Not Satisfied?

Complaints may be sent to by regular post or by email via our Help Centre. We will try and resolve your complaint as soon as possible and we shall employ our best efforts to provide a reply to all complaints within a maximum period of two working days.

In the event you are not satisfied with our reply you may refer the matter to the Arbiter for Financial Services by writing to:

Office of the Arbiter for Financial Services,
First Floor, St Calcedonius Square,
Floriana, FRN5130,
Malta

Or by visiting the  Arbiter for Financial Services website.

Important

Please download our guide for full information on Izola Saver and Izola Saver+ before opening your account. This includes product information, the account Terms and Conditions and also information on the Depositor Compensation Scheme.

Return

2,25% (Gross) & 1,57% (Net) for Izola Saver clients in Belgium.

The interest rate on your Izola Saver account is variable so it can be changed at any time at Izola Bank’s discretion.

Want to check how much you can earn? Try our Savings Calculator.

Izola Saver has an indefinite duration. 

Rates are correct as at 01.03.2024

Customers are notified by email of any upcoming interest rate changes.

What is a non-regulated savings account?

A non-regulated savings account is a savings account that does not fall under the regulations of a regulated savings account. It means that there is no obligation to split the interest rate in a base rate and a fidelity premium and the currency does not have to be necessarily in Euro. Interest is paid annually.

 

That also means, however, that the account is not exempt from withholding tax on the first €980 of interest. The applicable withholding tax is 30% and applies to the full amount of interest paid. Term deposit accounts also fall under the regulations of the ‘non-regulated savings account’.

 

Although these accounts are not regulated, they are still eligible under the Maltese Depositor Compensation Scheme up to a maximum of €100.000 per person.

Interest Receivable

Interest is calculated on a 360-day basis on the daily outstanding balance on your Izola Saver account at the end of the day and is credited annually to your Izola Saver account on 31st December or on the day when the account is closed.

Fees

There are no fees or charges for opening or maintaining an Izola Saver account.

Taxation

As Izola Saver (online savings account) and Izola Saver+ (term deposit accounts) are non-regulated, interest is paid to you as gross (without tax being deducted). Please note non-regulated savings account interests are subject to a 30% tax rate.

Your Choice

Choose how much you want to save and how long for. There is no limit on the duration of your Izola Saver account.

Start Small

You can open an Izola Saver account with just €25.

Fully Flexible

You can withdraw your funds whenever you like, without incurring any fees.

Who Can Apply?

To be eligible to open an Izola Saver account you must be over 18 years of age and have a Principal Bank Account. A Principal Bank Account is an existing bank account held in your name with an established bank in Malta, Belgium or France, depending on your country of residency. Please note all applications are checked individually to ensure they meet Izola Bank’s eligibility criteria.

Please note the Izola Saver account is not available for corporate entities.

Easy to Manage

You can manage your account by using the Izola Saver Mobile App or the online banking platform.

Izola Saver Mobile App

The Izola Saver Mobile App gives you the flexibility of managing your savings on the move. You can view account balances, transfer funds into and out of your Principal Bank Account and you can open as many Izola Saver+ term deposit accounts as you like.

Statement

You will receive an annual paper statement of your Izola Saver account after each year end which will list all transactions into or out of the account for the preceding 12-month period.

Secure

Izola Saver is designed so that you can only transfer money into or from your Principal Bank Account. Money cannot be moved to a different account at any time, ensuring extra peace of mind.

Risks & Guarantees

Liquidity risk:

Izola Bank plc is a Bank licensed in Malta. Your savings and/or term accounts are protected up to €100.000 euros per saver by Malta Depositor Compensation Scheme. Savings above an amount of €100.000 euros are not protected and are therefore at risk in the unlikely event of bankruptcy. Such amounts exceeding €100.000 euros may be lost in whole or in part or converted into shares (bail-in) as decided by the regulator.

Inflation risk:

Due to the continuous increase in prices, your saved money may lose its purchasing power over time if inflation rates are in excess of the net interest rate earned. This risk is a general macroeconomic risk and not particularly associated with Izola Bank plc.

Izola Bank is based in Malta and is licensed by the Malta Financial Services Authority (MFSA) to carry out the business of banking in terms of the Banking Act, 1994 (Chapter 371, Laws of Malta).

The Malta Financial Services Authority (MFSA) is the single regulator for financial services activities in Malta. It regulates and supervises credit and financial institutions, investment, trust and insurance business and also houses the country's Companies Registry.

Izola Bank is participant in the Depositor Compensation Scheme in Malta. The Scheme offers protection of up to €100.000 as per provisions under Subsidiary Legislation 371.09, 44. Any funds in excess of €100.000 are not covered by the Depositor Compensation Scheme. In the event of bankruptcy, you run the risk of losing any deposits you have over €100.000.

All Izola Bank's and your rights and obligations shall be subject to Maltese law. The Courts of Malta shall have exclusive jurisdiction over all claims or disputes arising in the event of litigation. 

You can open your account in minutes

We require some basic information about you, or you and your partner if you are opening a joint account. This includes information such as your name/s, address, identity card details and the IBAN number of the Principal Bank Account that you will link to your Izola Saver account.

If you are opening a joint Izola Saver account, you must link this online savings account to a Principal Bank Account that exists in both names.

Not Satisfied?

Complaints may be sent to by regular post or by email via our Help Centre. We will try and resolve your complaint as soon as possible and we shall employ our best efforts to provide a reply to all complaints within a maximum period of two working days.

In the event you are not satisfied with our reply you may refer the matter to the Arbiter for Financial Services by writing to:

Office of the Arbiter for Financial Services,
First Floor, St Calcedonius Square,
Floriana, FRN5130,
Malta

Or by visiting the  Arbiter for Financial Services website.

Important

Please download our guide for full information on Izola Saver and Izola Saver+ before opening your account. This includes product information, the account Terms and Conditions and also information on the Depositor Compensation Scheme.

This is how your money can make more money.

Have a look at the interest you can obtain with an Izola Saver account.

Please enter your details below, then press the Calculate button.

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  • Important! Negative amounts are not allowed.
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Rates are correct as 09.02.2024. Quoted rates are valid for deposits up to €200,000.00. This product is targeted to small retail investors who would normally not deposit above this amount. Any deposit above this amount will attract an interest rate negotiated directly with customer.

These results are based on the Gross Interest Rates.

Your results

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€{{vm.total_interest | number:2}}
Total Capital and Interest €{{vm.total_capital_and_interest | number:2}}
CALCULATE AGAIN

Open your Izola Saver account.

Have you read all the documentation and would like to proceed?

You can open your account in minutes. We require some basic information about you, or you and your partner if you are opening a joint account. This includes information such as your name/s, address, identity card details and the IBAN number of the Principal Bank Account that you will link to your Izola Saver account.

If you are opening a joint Izola Saver account, you must link this online savings account to a Principal Bank Account that exists in both names.

 

Looking for a fixed term deposit account?

Izola Saver+ could be the savings product you need.

No key information document is available or required by law for this type of account.

Haven’t decided yet?


Don't worry. We appreciate you might need more time to consider whether this savings account is right for you. Please download our Izola Saver Guide for full information on Izola Saver before opening your account. This includes product information, the account Terms and Conditions and also information on the Depositor Compensation Scheme.
 

Still have questions? We have the answers.

If you’re still unsure or you’d like further information, please visit our help centre to find the answers to your questions.