The Monetary Policy Council (MPC) decided to reduce interest rates at the beginning of December. This is what those who repaid their loans were waiting for. Those who do not have to repay their liabilities to the bank and are instead at the stage of accumulating savings are in a worse situation. It can be expected that after further cuts in NBP interest rates, interest rates, e.g. on deposits, will continue to decline. This is usually the case with interest rates on savings bonds. This time we have an exception.
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Interest rate cuts and the offer of savings bonds
On Monday, the Ministry of Finance announced the terms of the January offering of savings bonds and there were no interest rate cuts. Under the same conditions as in December 2025, it will be possible to invest money in the first month of 2026.
“In January, we left the interest rate on savings bonds unchanged, at a competitive level. – comments Jurand Drop, Undersecretary of State at the Ministry of Finance.
“From the new year, you can multiply your savings by investing them in any products from our offer. The standard offer includes instruments with maturities from 3 months to 10 years and various types of interest – fixed – known in advance or variable – determined on the basis of the reference rate of the National Bank of Poland or the inflation index. Beneficiaries of the 800+ program have the opportunity to purchase 6- or 12-year family bonds with an interest rate based on inflation” – enumerates.
Savings bonds in January 2026. Here are the conditions
In January, the interest rate on one-year floating-rate bonds will be 4.25 percent, and two-year bonds will be 4.4 percent, in the first monthly interest period.
The interest rate on three-month fixed-rate bonds will be 2.5%. per year, and three-year 4.65%. The remaining bonds, in the first annual interest period, will bear interest as follows: 5%. for four-year-olds and 5.6 percent for 10-year-olds.
6- and 12-year family bonds intended for beneficiaries of the “Rodzina 800 plus” program will bear interest at 5.2 and 5.85 percent, respectively. in the first year.
“We left bond margins unchanged at an attractive level” – emphasizes the Ministry of Finance.
The interest rate on one-year and two-year bonds changes monthly. It is calculated as the sum of the reference rate of the National Bank of Poland and the margin and, in the case of instruments offered in January, is 0%. for annual bonds, and 0.15 percent for two-year-olds.
The interest rate on four-year bonds changes every year and is calculated based on the sum of the inflation rate from the last 12 months and an unchanged margin of 1.5%. The same interest rate mechanism also applies to 10-year bonds, but in this case the margin remains unchanged at 2%.
The preferential margins for family bonds also remain unchanged, the interest rates of which are calculated according to the same principles as in the case of 4- and 10-year bonds and amount to 2%, respectively. for six-year bonds and 2.5 percent for 12-year-olds.
