FAQ > General questions

How does Deposit Planet work?

Deposit Planet is the first global online marketplace for term deposits. We provide savers and investors with a safe, easy and transparent way to open term deposits in the most trusted and biggest banks around the world. Our mission is to change the way people save and invest.

  1. 1

    We select banks

    We search for the best banks that are able to offer the best returns on term deposits and maximum safety of your investment. We analyse a potential bank’s financial data, stability of operation, awards and achievements, and country of operation. We only cooperate with banks, that are key players on the local market.

  2. 2

    We test the banks

    Before we select a term deposit, we use our funds to conduct a real-life test set-up and settle. We do this to be absolutely certain that your money will be safe before we offer it to you.

  3. 3

    Opening a term deposit

    We also set up and then freeze the exchange rate that will be used to convert the original deposit currency into your mother currency.

    Then you can choose which, or part of which, term deposit suits you best and buy the rights to it using your mother currency. After that you became the legal owner of the term deposit with all its rights and protection.

  4. 4

    Interest payments and capital withdrawal

    Your interest is calculated and added to your account on a daily basis, so you can stay up-to-date with how much you have earned across your portfolio. After your term deposit has matured you will be able to withdraw all your savings and earned interest.

    For your convenience, we also offer you the possibility of early withdrawal. Please note that this will result in you forfeiting 50% of your earned interest.

What is Deposit Planet?

Deposit Planet is the first global online marketplace for term deposits.

Who can save through Deposit Planet?

At the moment, only individuals can save with us.

How does Deposit Planet make money?

Our main source of income is the difference between the term deposit interest we receive from the banks and the interest we offer our savers.

What is the cost of using Deposit Planet?

Saving through us is free of charge

How do I create an account?

To start using our service you need to download our app and pass our simple registration procedure. This should not take more than a couple of minutes.

ID verification - what do I need?

We are an important link between you and your chosen bank. So, we need to assure them that we follow stringent banking regulations known as Know Your Customer (KYC).