FAQ > Saving

How is interest calculated and paid?

Interest on your term deposit is calculated daily and starts the first day after you confirm the opening of a new term deposit. The formula for calculating your interest is as follows:

Deposit Amount × Number of Days × Interest Rate ÷ 360.

Calculated interest is paid monthly.

What is a term deposit?

A term deposit is an investment bank product which allows a one-time investment of a fixed sum.

In which currencies can I save in?

At present you can save in EUR, USD, GBP, PLN, CNH and JPY.

What is the minimum deposit amount?

The minimum amount needed to open a term deposit with us is 10 EUR/USD/GBP/PLN.

What happens when a term deposit matures?

When a term deposit matures, you can either withdraw your capital with the interest you have earned, or you can open new a term deposit with us.

How is interest income taxed?

The income earned at Deposit Planet is taxed for each saver based on the legislation of the respective country where the saver is a tax resident.

Which laws govern my term deposit contract?

Term deposit contracts are governed by the local laws of the respective country in which the bank is based.