You know your return from the very beginning: the interest rate is set in advance and does not vary. If the market interest rates increase or decrease you will still receive interest payments according to the interest rate defined when you opened your Izola Saver+ account.

The below interest rates are applicable for residents of Malta.

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

Izola Saver+ is a term deposit account whereby your funds are locked up for a set period of time. No deposits or withdrawals are allowed from the account for the duration of the term.

Choose how much you want to set aside to place in your Izola Saver+ term deposit account. Just ensure you won’t need access to these funds for the duration of the term. You can open Izola saver+ term deposit accounts for periods ranging from 3 to 9 months and 1 year up to 10 years.

You can open an Izola Saver+ account with just €500.

To open an Izola Saver+ account you first need to open an Izola Saver account.*

You can manage your account by using the Izola Bank App or Izola Bank Online. You can open more than one Izola Saver+ account. 

Izola Saver+ accounts are not available for corporate entities.

Important: Before placing funds into Izola Saver+, please note that Izola Saver and Izola Saver+ have separate product features, rates, fixed-term restrictions, tax information and deposit protection disclosures. The disclosures on this page apply to this fixed-term account only.

No opening or maintenance fees apply. However, early termination or partial termination of a Term Deposit Account may be subject to an administration charge of €15 and penalty interest, as communicated by the Bank. Please refer to the General Tariff of Charges for further details.

It is possible to automatically renew your Izola Saver+ account upon maturity.

Interest from your Izola Saver + account is paid directly to your Izola Saver account quarterly, half yearly or annually. You can select when you want to receive your payments during the application process.

Interest is calculated on a 365-day basis on the balance of your Izola Saver+ account and credited to your Izola Saver account depending on the interest payment frequency defined when you completed the account opening form.

Interest is paid gross (without tax being deducted). Residents of Malta can opt to have the withholding tax deducted from the interest earned on the account, by choosing this option during the application process.

You can view your Term Deposit Contract note from the "Reports" section on the Izola Bank App or Izola Bank Online.

You can manage your account by using the Izola Bank App or Izola Bank Online.

The Izola Bank 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.

You can only open an Izola Saver+ account by transferring money from your main Izola Saver account.

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.

The Bank is participant in the Depositor Compensation Scheme as established in terms of the Depositor Compensation Scheme Regulations (Legal Notice 383 of 2015) as amended. Subject to the conditions imposed by the Scheme, balances on accounts denominated in Euro or in any other currency of an EEA State held with the Bank are guaranteed up to a maximum of EUR 100,000 or its equivalent in any other EEA currency per person.

Where a depositor holds more than one eligible deposit with the Bank, the balances may be aggregated for the purpose of applying the EUR 100,000 limit. 

The protection applies only to eligible deposits and is subject to the rules of the Scheme. Certain deposits may be excluded from protection, including, for example, deposits made by credit institutions, financial institutions, investment firms, insurance undertakings, collective investment schemes, pension and retirement funds, public authorities, and deposits connected with money laundering convictions. 

In the event of bankruptcy, there is a risk of losing any deposits held over €100,000 or any deposits which are not eligible for protection under the Scheme.

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.

In order to open an Izola Saver+ account, you must first open an Izola Saver account with us.

If you're already an Izola Saver client, simply login to the Izola Bank App or Izola Bank Online.

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,
N/S in Regional Road,
Msida MSD 1920,
Malta

Or by visiting the  Arbiter for Financial Services website.

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.