Personal Term Deposits

You choose the term.

We’ll provide a great interest rate.

7 Year Personal Term Deposit - 2.60%

Learn more

Planning for tomorrow starts today

Our fixed term deposits are a great way to help you reach your savings goals.

Term deposits work by selecting an amount of money that you can afford to lock down in an account with us for a fixed period, against a guaranteed fixed interest rate.

You choose the duration

We offer terms from 1 year up to 10 years. Choose the term that makes most sense to you.

Great interest rates

The rate we promote is guaranteed for the term chosen and will not fluctuate. View our interest rates. We can pay your interest annually or on the maturity date.

€10,000 minimum deposit

Minimum balance starts at €10,000 up to a maximum of €100,000 per person.

Your savings are protected

Our term deposits are covered by the Depositor Compensation Scheme for extra peace of mind.

Chat to us

We believe in providing real people to speak to. Call us or chat online from Monday to Friday 8am to 5pm CET.

No hidden fees

We don’t charge set up, monthly maintenance or administration fees

Open an account

Izola Bank can deduct the 15% withholding tax on your interest.

Please ensure you are a resident of Malta and you are over 18 years of age before applying. Please note we do not accept cash payments. Accounts must be opened using cheques or a bank transfer. Terms and conditions apply.

Earn more with a Personal Term Deposit

Duration	Interest Rate
1 year	1.25%
2 years	1.50%
3 years	1.75%
4 years	2.00%
5 years	2.25%
7 years	2.60%
10 years	3.00%

Duration	Interest Rate
1 year	1.25%
2 years	1.50%
3 years	1.75%
4 years	2.00%
5 years	2.25%
7 years	2.60%
10 years	3.00%

Rates are correct as at 01.09.2020

calculate now

Personal Term Deposit Calculator

See how your money can grow with this calculator.

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

Principal Amount

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Important! Negative amounts are not allowed.

Years

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Rates are correct as 01.09.2020. Quoted rates are valid for deposits up to €200,000.00.

Your results

Initial Deposit €{{vm.initial_deposit | number:2}}

Interest Rate {{vm.interest_rate | number:2}}%

Total Interest €{{vm.total_interest | number:2}}

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

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Opening your account is easy

Call us

Call us between 8am to 5pm Monday to Friday on Freephone 27922040 to arrange an appointment with a member of our team.

Email us

Email us and advise us that you would like to open a Term Deposit account. We will contact you back and advise you what documentation you need to bring to open your account.

Please ensure you are a resident of Malta and you are over 18 years of age before applying. Please note we do not accept cash payments. Accounts must be opened using cheques or a bank transfer.

Your top questions answered

What is the minimum amount needed to open a Term Deposit with Izola Bank and how can I apply?

There is a minimum required balance of €10,000 to open a Term Deposit account. You can open an account by visiting our offices in Valletta or we can also liaise via post. Once we have your request, we will provide you with a Term Deposit application form. This application form must be submitted to us, together with recent document with proof of your address and a valid copy of your Maltese ID Card. This product is only offered to residents of Malta. Funds to be used for the Term Deposit must also derive from another licensed bank operating locally in Malta. The money can be transferred online or by cheque. Izola Bank does not accept cash deposits.

Is my Term Deposit protected by the Depositor Compensation Scheme?

Yes, your Term Deposit with Izola Bank is covered by the Depositor Compensation Scheme (DCS). The scheme covers deposits up to €100,000 per individual. Should you decide to open a joint Term Deposit with another person, the scheme would cover deposits up to €200,000.

What happens after the Term Deposit is opened?

Once your Term Deposit is opened, Izola Bank will send you a contract note. This letter will contain all the information related to your Term Deposit such as the amount, your interest rate, your interest repayment dates and so on. The contract note is an official document which proves that your Term Deposit was opened.

Can Tax be withheld at source?

Yes, all you need to do is confirm this during your application and we will make sure that once the gross interest is issued, the 15% tax is withheld at source, so you only receive the net interest due.

How often is interest paid and what interest payment options do I have?

Interest payments can be issued yearly and paid by SEPA transfer to your local bank account with any licensed bank operating in Malta. We can also pay your interest by bank draft if this is your preferred option. If you would like, we can also capitalize your interest and once a year, when interest is due to be paid, the latter is added to the capital. On maturity date you will get the capital together with all compound interest accrued. This method generates more interest since each year the interest accumulates to the capital. Izola Bank will not charge you for your interest payment.

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.