All interest rates displayed are Annual Equivalent Rates (AER), unless otherwise explicitly indicated. The AER illustrates what the interest rate would be if interest was paid and compounded once each year. This allows individuals to compare more easily what return they can expect from their savings over time.
Partner Bank Alior Bank
Alior Bank is a Polish retail bank with headquarters in Warsaw. Since its foundation in 2008, the number of customers has risen to over 3 million. With 6,500 employees and an extensive retail network consisting of 216 branches, 219 modern mini branch locations (Alior Bank Express), as well as 414 partner branches, Alior Bank is considered one of the most innovative and fastest growing financial institutes in Poland. Numerous awards serve as testament to Alior’s success, including ‘Best European Retail Bank 2014’, selected by the jury at ‘Retail Banker International’. Other such examples include ‘Best Bank in Poland 2014’ (awarded by Global Finance) and the ‘BAI-Finacle Global Banking Innovation Award 2013’.
In December 2012, Alior Bank made history with the largest IPO of a private company ever to be made on the Warsaw Stock Exchange. Since March 2014, the bank has been listed on the WIG20 Index, which lists the twenty largest Polish companies on the Warsaw Stock Exchange in terms of market capitalization.
The Republic of Poland is located in central Europe and has been a member of the European Union since 2004. The national currency is Zloty (PLN). Poland consistently ranks in the top tier of lists measuring Gross Domestic Products and purchasing power, as well as on the Human Development Index. National debt is amongst the lowest in the European Union and is, as an example, considerably lower than German national debt. The three main rating agencies all currently give Poland an Investment Grade Rating ‘A’. Ongoing privatization, foreign investment, and major reforms have all fundamentally reshaped the Polish capital market and have helped to create a modern banking system.
Deposit Guarantee Poland
Deposits with Alior Bank are fully protected for amounts up to the equivalent of 100,000 Euros in Polish Zloty by the Deposit Guarantee Scheme of Poland (Bankowy Fundusz Gwarancyjny), backed by the Polish state. This protection covers the deposits of all individuals, not just Polish citizens. Polish national debt, currently at 51% of GDP (as of 2014), is significantly lower than other central European states, including Germany (with a national debt of 75% of GDP). Further information about the Deposit Guarantee Scheme in Poland can be found at http://www.bfg.pl/en.
All Member States of the European Union have agreed on the need to better protect savers. Throughout Europe, the minimum requirements for national Deposit Guarantee Schemes were harmonized a number of years ago (EU Directives 94/19/EC, 2009/14/EC, and 2014/49/EU). These Directives provide a standardized, high level of protection of deposits across the EU regulating, among other things, repayment modalities and repayment deadlines.
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Tax process and documents
The standard withholding tax rate on interest in Poland is 19%. This can usually be lowered by providing the bank with a certificate of tax residence. The exact lowered withholding tax rate will depend on your country of residence.
Alior Bank requires no additional documents in order to open a high interest deposit account other than the ones requested by Raisin during the application process. Customers who have previously opened a savings account with Alior Bank will not be required to provide further documentation, the process can be completed entirely online.
What is Raisin?
Raisin’s goal is to offer savers high interest rates! We give you access to exclusive savings products from all over Europe – Raise your interest with Europe’s #1 savings marketplace!
Raisin's over 60,000 customers have invested more than EUR 2 billion in our 27 partner banks.
The feedback from our customers speaks for itself: we have a rating of 4.6 out of 5 and a recommendation rate of 96 percent on the independent German rating portal Bankingcheck. Raisin was also voted the best German term deposit marketplace 2014 and 2015.
Raisin guarantees a smooth process and the management of your investments with all of our partner banks via one single platform.
Alior Bank SA with its seat at ul. Łopuszańska 38d, 02-232 Warsaw, Poland is registered with the National Court Register under no. (KRS): 0000305178. Alior Bank SA is authorized and regulated by Polish Financial Supervision Authority.
Your eligible deposits with Alior Bank SA are protected up to a total of EUR 100,000 by the Polish deposit protection scheme (http://www.bfg.pl/en). Any deposits you hold above the EUR100,000 limit are not covered. This communication has been authorized by Alior Bank SA.