2,25% (Gross) & 1,57% (Net) for Izola Saver clients in Belgium.

The interest rate on your Izola Saver account is variable so it can be changed at any time at Izola Bank’s discretion.

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

Izola Saver has an indefinite duration. 

Customers are notified by email of any upcoming interest rate changes.

A non-regulated savings account is a savings account that does not fall under the regulations of a regulated savings account. It means that there is no obligation to split the interest rate in a base rate and a fidelity premium and the currency does not have to be necessarily in Euro. Interest is paid annually.

That also means, however, that the account is not exempt from withholding tax on the first €980 of interest. The applicable withholding tax is 30% and applies to the full amount of interest paid. Term deposit accounts also fall under the regulations of the ‘non-regulated savings account’.

Although these accounts are not regulated, they are still eligible under the Maltese Depositor Compensation Scheme up to a maximum of €100.000 per person.

Interest is calculated on a 360-day basis on the daily outstanding balance on your Izola Saver account at the end of the day and is credited annually to your Izola Saver account on 31st December or on the day when the account is closed.

There are no fees or charges for opening or maintaining an Izola Saver account.

As Izola Saver (online savings account) and Izola Saver+ (term deposit accounts) are non-regulated, interest is paid to you as gross (without tax being deducted). Please note non-regulated savings account interests are subject to a 30% tax rate.

Choose how much you want to save and how long for. There is no limit on the duration of your Izola Saver account.

You can open an Izola Saver account with just €25.

You can withdraw your funds whenever you like, without incurring any fees

To be eligible to open an Izola Saver account you must be over 18 years of age and have a Principal Bank Account. A Principal Bank Account is an existing bank account held in your name with an established bank in Malta, Belgium or France, depending on your country of residency. Please note all applications are checked individually to ensure they meet Izola Bank’s eligibility criteria.

Please note the Izola Saver account is not available for corporate entities.

You can manage your account by using the Izola Saver Mobile App or the online banking platform.

The Izola Saver Mobile 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 will receive an annual paper statement of your Izola Saver account after each year end which will list all transactions into or out of the account for the preceding 12-month period.

Izola Saver is designed so that you can only transfer money into or from your Principal Bank Account. Money cannot be moved to a different account at any time, ensuring extra peace of mind.

Liquidity risk:

Izola Bank plc is a Bank licensed in Malta. Your savings and/or term accounts are protected up to €100.000 euros per saver by Malta Depositor Compensation Scheme. Savings above an amount of €100.000 euros are not protected and are therefore at risk in the unlikely event of bankruptcy. Such amounts exceeding €100.000 euros may be lost in whole or in part or converted into shares (bail-in) as decided by the regulator.

Inflation risk:

Due to the continuous increase in prices, your saved money may lose its purchasing power over time if inflation rates are in excess of the net interest rate earned. This risk is a general macroeconomic risk and not particularly associated with Izola Bank plc.

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.

Izola Bank is participant in the Depositor Compensation Scheme in Malta. The Scheme offers protection of up to €100,000 as per provisions under Subsidiary Legislation 371.09, 44. Any funds in excess of €100.000 are not covered by the Depositor Compensation Scheme. In the event of bankruptcy, you run the risk of losing any deposits you have over €100.000.

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.

We require some basic information about you, or you and your partner if you are opening a joint account. This includes information such as your name/s, address, identity card details and the IBAN number of the Principal Bank Account that you will link to your Izola Saver account.

If you are opening a joint Izola Saver account, you must link this online savings account to a Principal Bank Account that exists in both names.

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.