Updated on 27 June 2019
FIMBank (before 2003 - First International Merchant Bank) started operations in 1995; in 2001 its shares were listed on the Malta Stock Exchange. FIMBank plc is headquartered in St. Julian’s is a member of one of the biggest diversified holding companies in the Middle East, the KIPCO Group. FIMBank specializes in provider trade finance, factoring and forfaiting solutions, with a global presence in various important financial and trading centres.
BNF Bank plc (formerly known as Banif Bank (Malta) plc) started operations in Malta in 2008. BNF Bank provides personal and business and corporate banking products and services with a focus of lending to the local community, including local SMEs.
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Savings accounts are interest-bearing deposits accounts which allow to withdraw money at any time. While offering more flexibility, savings accounts usually provide lower interest rates than term deposit accounts.
The table above shows essential details of selected savings accounts products offered to retail customers by the banks in Malta: currency, interest rate per annum and deposit term. The savings accounts terms vary from 1 month to 1 years (12 months). The interest rates are within the range 0.25 - 0.45 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in Malta.
Savings accounts made with credit institutions in Malta are covered by deposit guarantee scheme up to 100,000 EUR per depositor.
Malta's Moodys country ceiling (the highest rating that can be assigned) for deposits in local currency is set to Aaa (prime).