6.50% on a quarterly deposit. Renault Bank with a favorable offer compared to the competition
At Renault Bank, you can open a term deposit with a rate of 6.50 percent. per year. A slightly smaller percentage accompanies a flexible savings product. The offer can be used via the Raisin platform.
The Renault Bank offer includes term deposits and a savings product reminiscent of a savings account. Current rates at the above -mentioned products are as follows:
- Term deposit for 1 month – 6.20 percent per year,
- Term deposit for 3 months – 6.50 percent per year,
- Termatic deposit for 2 years – 5.55 percent per year,
- A term deposit for 3 years – 5.60 percent per year,
- Term deposit for 4 years – 5.65 percent per year,
- Termatic deposit for 5 years – 5.70 percent per year,
- Flexible savings product – 6.20 percent per year.
Deposits can therefore be set up for a short time (month or quarter) or freezed funds for at least two years. The interest rate on these products is fixed. The funds can be paid at any time, but it should be remembered that early savings are associated with the payment of capital without interest accrued so far.
A flexible savings product, in turn, works like a classic savings account. Current interest rate, i.e. 6.20 percent per year, it is a variable rate. You can pay and withdraw funds to your account without closing the product. The contract is signed for an indefinite period. Interest adds to capital every quarter.
You can pay a maximum of PLN 400,000 for all Renault Bank savings products. The customer who has such funds can transfer the entire amount to one product or divide between several offers. This may be relevant when you add interest to the balance of the flexible savings product.
Renault Bank operates in Poland as a branch. Meaning that
Customer savings are protected by the deposit guarantee system competent for the country of foreign origin of the financial institution, i.e. in this case France. The amount covered by the warranty “Fonds de Gaantie des Dépôts et de Résolution” is the same as in the case of BFG and is the equivalent of EUR 100,000.
As we talk about a foreign ward, it is also worth looking at tax issues. It happens that interest from a deposit or savings account is also subject to financial obligations from the country from which the institution comes. In this case, the Polish branch of the Bank pays tax on capital income to the Polish Tax Office, and the customer already receives interest reduced by the equivalent of 19%.
You will submit an application for a deposit at Renault Bank on this page »
Raisin savings platform
Renault Bank products can be founded through the Raisin savings platform. Before the customer will be able to take advantage of the selected offer, it will be necessary to register on the above -mentioned website.
Registration is made through the Raisin website. After entering all the required data, you will also need to verify your identity. It is performed in a web browser (conversation with a consultant) or a mobile application (using an external Postident application). It will be necessary to have a document such as ID card or passport. The stage of creating an account ends with sending one of the documents listed by the platform, which will confirm the address of residence. This can be done by e -mail or on the Raisin website after logging into your profile.
Based on the information available on the platform's website, we can find out that the video call lasts about 10 minutes. After a positive passage of the verification process, the Agent proceeds to verify the data. The opening of the Raisin account may, in turn, take up to 2 business days.
On the web, you can find opinions that the customer verification process is extended, and to confirm the positive passage of this process is expected much longer. The company confirmed that technical problems at the telecommunications service provider have already been resolved and should not affect the customer's registration on the Website.
You will submit an application for a savings account at Renault Bank on this page »
Raisin's deposits or savings accounts are not funded directly from a personal accountwhich the customer has in one of the banks, but with the funds accumulated on the Raisin account. This stage cannot be omitted, so the customer first sends savings from his personal account to the Raisin account, from which funds are collected to open, for example, a term deposit.
According to the information received from the representatives of the platform, the funds are usually posted on the selected product after 24-48 hours. As for the payment of funds from Raisin's account to the customer's personal account, it usually occurs on the same day. In the case of orders carried out on German or Polish holiday days, the transfer will be processed and posted on the next business day.
Raisin is a German savings platform, so the funds stored on the Raisin account are protected by the German statutory deposit guarantee system. In Germany, he includes private financial institutions conducting deposit activities. This means that the balance on the Raisin account at Raisin Bank is protected to a limit of EUR 100,000 per customer.
One of the best rates
6.50 percent per year, on a quarterly deposit at Renault Bank, it is one of the best rates on the market for this date. Currently, the maximum interest rate for this period is 7 percent. per yearwhich can be obtained at Alior Bank or mBank. If you assume that having a Raisin account is an additional condition, a similar one uses Volkswagen Bank GmbH Branch in Poland on a quarterly Lokat Plus. In his case, you can also gain 6.50 percent on this deposit. per year, but a personal account is required in this institution.
You will submit an application for a deposit at Renault Bank on this page »
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