Deposits and savings
What is a deposit?
A deposit is a savings product that allows you to deposit a sum of money in a bank for a certain period of time. In return, the bank pays you interest on the amount deposited according to the terms of the product.
Why is it used?
Deposits are usually used by individuals who wish to store their savings in a safe manner and benefit from interest income. They can be suitable for short-term, medium-term or long-term savings.
What should you compare?
When comparing deposits offered by banks, pay attention to:
Interest rate.
Deposit term.
Deposit currency (Lek, Euro, Dollar, etc.).
Minimum amount required to open a deposit.
Conditions for withdrawing funds before maturity.
Interest payment method (at the end of the term, monthly, annually, etc.).
What you need to know?
The highest interest rate does not necessarily mean the best offer for you. The deposit term, flexibility for withdrawing funds, and other product terms may influence your choice.
Deposit calculator
Frequently asked questions
Can I withdraw my money before the end of the term?
This depends on the terms of the bank and the product. In some cases, you may lose part or all of the interest earned.
When is interest paid?
Interest payments vary by product. Some deposits pay it at the end of the term, while others pay it at regular intervals.
Can I open a foreign currency deposit?
Yes. Many banks offer deposits in Lek, Euro, US Dollar and other currencies.
How do I choose the right deposit?
Compare the interest rate, term, currency and product terms to identify the option that matches your savings goals.