Time Deposit Accounts

Compare Time Deposit Accounts in Italy

Updated on 2 December 2020

2 offers from 1 banks
Interest Rates: 0.70 - 1.50 % p.a.
Deposit Terms: 12 - 120 months
Rating
 (3.0)
Currency
EUR
Interest Rate (p.a.)
0.70 - 1.50 %
Deposit Term
12 - 120 months
Time Deposit Account Details
Account Currency
EUR
Min. Interest Rate (p.a.)
0.70 %
Max. Interest Rate (p.a.)
1.50 %
Min. Deposit Term
12 months
Max. Deposit Term
120 months
Time Deposit Account Provider
 (3.0)

Founded in 2011, Banca Sistema is initially focused on providing factoring, debt management and collection services. Banca Sistema has rapidly expanded its activities with a full range of banking services and now also offers retail, business and corporate banking products and services to large multinationals, small and medium enterprises, as well as professionals and individual investors.

Rating
 (3.0)
Currency
EUR
Interest Rate (p.a.)
0.70 - 1.41 %
Deposit Term
12 - 120 months
Time Deposit Account Details
Account Currency
EUR
Min. Interest Rate (p.a.)
0.70 %
Max. Interest Rate (p.a.)
1.41 %
Min. Deposit Term
12 months
Max. Deposit Term
120 months
Time Deposit Account Provider
 (3.0)

Founded in 2011, Banca Sistema is initially focused on providing factoring, debt management and collection services. Banca Sistema has rapidly expanded its activities with a full range of banking services and now also offers retail, business and corporate banking products and services to large multinationals, small and medium enterprises, as well as professionals and individual investors.

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

Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).

The table above shows essential details of selected time deposit products offered to retail customers by the banks in Italy: currency, interest rate per annum and deposit term. The time deposit accounts terms vary from 12 month to 10 years (120 months). The interest rates are within the range 0.70 - 1.50 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in Italy.

Average Deposit Rates. In March 2020, average annual deposit interest rate in local currency (Euro) of new contracts with fixed term up to 1 year between credit institutions and retail customers (households) was 1.55 %.

Country Deposit Rating. Italy's Moodys country ceiling (the highest rating that can be assigned) for deposits in local currency is set to Aa3 (high grade).

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

Withholding Tax. Interest income gained on time deposit accounts by non-residents of Italy is not taxed. Interest gained on time deposit accounts by residents of Italy is taxed at 20.00% rate. When the interest is paid, this tax is automatically withhold from the time deposit account by the bank.

Other Banking Products in Italy

See Also