Bank deposit or savings account?

Saving money is very important, so think about it well. One way to save money while investing and multiplying them is to put them in a bank.

In this respect, we basically have two options. We can place our funds in a deposit or in a savings account. What characterizes these solutions and what is more profitable?

Bank deposit

Bank deposit

Bank deposits are in most cases term deposits, i.e. those in which we deposit our money for a specified period. Generally, these funds cannot be selected earlier than the deposit’s closing date. More specifically, you can do it, but then you will lose most of the interest earned. Nico is different in the case of another type of deposit, namely a dynamic deposit, in which funds can be withdrawn almost at any time, without consequences in the form of interest already earned.

The interest rate in this case, and thus the profit will simply depend on the period over which the money was invested. Generally, deposits can be long or short-term. Long-term, for example, two years, and short-term, for example, monthly or quarterly.

In each deposit, whether in a typical timely or dynamic one, the interest rate is very important, because it decides directly about the amount of profit, i.e. what percentage of the sum paid will constitute interest. However, the type of interest may vary. We distinguish fixed interest, which does not change during the deposit, despite changes in interest rates, and variable interest rates, where the interest rate will be shaped depending on changes in interest rates.

Savings Account

Savings Account

A savings account is basically something like connecting a deposit with a regular bank account. On the one hand, it allows for any deposits and withdrawals at any time, and on the other hand, the funds deposited are interest-bearing and profitable.

Similarly as in the case of deposits, the interest rate is very important in savings accounts, which translates into the amount of profits incurred.

Such an account is created for an indefinite period, just like a regular bank account. It is also possible to easily transfer funds from a savings account to a regular personal account, from which you can freely make further withdrawals, transfers or other such operations.

What to choose?


The choice between a deposit and a savings account will depend mainly on several things. Deposits (especially long-term ones) are usually interest rates slightly higher, but they give less freedom to dispose of funds. In the savings account, funds are available almost at any time, especially if we have access to the account via online banking.

In addition, deposits may have fixed or variable interest rates, while for savings accounts this is usually the latter option. If you have free funds that you will not need urgently in the near future, you should decide on a deposit. If you want to have constant access to funds, then a savings account seems to be a better option.