Savings Accounts

Compare Savings Accounts in Malta

Updated on 20 October 2020

4 offers from 4 banks
Interest Rates: 0.05 - 0.40 % p.a.
Account Terms: 1 - 12 months
Rating
 (2.9)
Currency
EUR
Interest Rate (p.a.)
0.40 %
Deposit Term
1 - 12 months
Savings Account Details
Product Name
Tagesgeld - Check24
Account Currency
EUR
Min. Interest Rate (p.a.)
0.40 %
Max. Interest Rate (p.a.)
0.40 %
Min. Deposit Term
1 month
Max. Deposit Term
12 months
Min. Investment Amount
1 EUR
Max. Investment Amount
100,000 EUR
Interest Frequency
1 times a year
Savings Account Provider
 (2.9)

Ferratum Bank was incorporated in Malta in September 2012 in order to provide additional funding sources and business opportunities to its parent company, Ferratum Group (Finland). Ferratum Group provides internet and mobile micro-loans, amongst various other services, across a number of countries. It offers fast and readily available banking services, loans and savings both online and on mobile devices.

 FIMBank
DEGermany
Rating
 (3.2)
Currency
EUR
Interest Rate (p.a.)
0.35 %
Deposit Term
1 - 12 months
Savings Account Details
Product Name
Tagesgeld/Flexgeld24
Account Currency
EUR
Min. Interest Rate (p.a.)
0.35 %
Max. Interest Rate (p.a.)
0.35 %
Min. Deposit Term
1 month
Max. Deposit Term
12 months
Min. Investment Amount
1 EUR
Max. Investment Amount
100,000 EUR
Interest Frequency
12 times a year
Savings Account Provider
 (3.2)

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.

 FCM Bank
DEGermany
Rating
 (3.7)
Currency
EUR
Interest Rate (p.a.)
0.25 %
Deposit Term
1 - 12 months
Savings Account Details
Product Name
Tagesgeld/Flexgeld24
Account Currency
EUR
Min. Interest Rate (p.a.)
0.25 %
Max. Interest Rate (p.a.)
0.25 %
Min. Deposit Term
1 month
Max. Deposit Term
12 months
Min. Investment Amount
1 EUR
Max. Investment Amount
100,000 EUR
Interest Frequency
1 times a year
Savings Account Provider
 (3.7)

FCM Bank is a Maltese bank specialising in savings and fixed term deposit products. FCM Bank focuses on delivering simple, straightforward and good-value products. FCM Bank operates online and has only one brick-and-mortar branch which allows the bank keep the costs low and pass on the savings to the customers.

 BNF Bank
DEGermany
Rating
 (3.7)
Currency
EUR
Interest Rate (p.a.)
0.05 %
Deposit Term
1 - 12 months
Savings Account Details
Product Name
Flexgeld24
Account Currency
EUR
Min. Interest Rate (p.a.)
0.05 %
Max. Interest Rate (p.a.)
0.05 %
Min. Deposit Term
1 month
Max. Deposit Term
12 months
Min. Investment Amount
1 EUR
Max. Investment Amount
100,000 EUR
Interest Frequency
1 times a year
Savings Account Provider
 (3.7)

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.

DEGermany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.

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 0.05 - 0.40 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in Malta.

Country Deposit Rating. Malta's Moodys country ceiling (the highest rating that can be assigned) for deposits in local currency is set to Aaa (prime).

Deposit Guarantee. Savings accounts made with credit institutions in Malta are covered by deposit guarantee scheme up to 100,000 EUR per depositor.

Withholding Tax. Interest income gained on savings accounts by non-residents of Malta is not taxed. Interest gained on savings accounts by residents of Malta is taxed at 15.00% rate. When the interest is paid, this tax is automatically withhold from the savings account by the bank.

Other Banking Products in Malta

See Also