Hey bunqers 🌈, 

Easily grow your savings with guaranteed returns while keeping your money safe and protected with bunq’s Term Deposits.

You can earn extra interest with our Term Deposits by locking your money for a fixed period of time. Simply pick the term duration which suits you best and lock in your interest rate. Check out the available rates below: 

• 3 months: 1.76% 

• 6 months: 1.86% 

• 12 months: 2.11%

• 24 months: 1.91%

At the end of the term, the deposited amount and earned interest are automatically paid out to your oldest active Personal Bank Account for easy access to your earned money. 

We'll always display the latest interest rates and term durations in the app when you're opening a Term Deposit. This way, you'll get up-to-date rates and choose which term duration works best for you.

How do Term Deposits work?

When you open a Term Deposit, you lock a chosen amount of money for a set period of time — from 3 months up to 2 years. In return, you earn a guaranteed fixed interest rate on that amount. 

Here's how it works:

1. Choose your preferred term – Pick a term duration that suits your savings goals. Each term has a different interest rate.

2. Deposit your money – You can deposit between €1,000 and €100,000 per Term Deposit account. You can also open multiple Term Deposits, up to a combined total of €100,000 across all Term Deposit accounts — this is the total amount which can earn interest and is covered by the DSG. 

3. Earn interest – Your money earns interest throughout the term.

4. Get paid out – At the end of the term, your interest is paid out and the Term Deposit automatically closes.

Important: Once you start the term, you can't add more money to that Term Deposit. If you want to save more, you can open another Term Deposit — up to a combined total of €100,000.

How do I open a Term Deposit? 

To open a Term Deposit, simply: 

1. Go to your Savings Tab 💰

2. Tap on Add an Extra Savings Account 

3. Select a Term Deposit 

4. Choose the amount you’d like to deposit and the time period you want to lock it in for 

5. Select which account you’d like to add money from

6. Read, agree to the T&Cs, and tap on Next 

7. That’s it — you’ve just set up your Term Deposit 🚀

Who can open a Term Deposit? 

You have to meet the following criteria to be eligible to open a Term Deposit: 

• Be 18 years old or older 

• Have a verified Personal account with any of the available bunq plans.

What happens when my Term Deposit is over? 

When your Term Deposit ends, you’ll get a push notification from us to let you know that we’ve transferred the full term deposit amount and the interest back into your Main Bank Account. 

What happens if I need my money earlier than my Term Deposit end date?

If you need to access your money before your selected term ends, you can end the Term Deposit early and withdraw the amount deposited. 

Should you decide to do so, you’ll be charged a cancellation penalty fee of 1% of your deposit for every year left in your term — and you won’t earn any interest on the money in your Term Deposit. Keep in mind that partial years count as full years, so if your Term Deposit is set to 3 months, you’ll be charged 1% of your deposit for that year. The early withdrawal charge is capped at a maximum of 6%.

This penalty fee can only be waived in special circumstances, which include:

• Death 

• Disability

• Unemployment

• Debt restructuring

• Voluntary debt settlement

If you find yourself affected by one of the outlined situations, reach out to our Support with evidence. Our team will review your case and waive the penalty in eligible cases. 

How can I end my Term Deposit? 

You can end your Term Deposit early via the account settings in the app by following these steps: 

1. Go to your Savings Tab 💰

2. Select your Term Deposit Savings Account 

3. Tap on the Account Settings icon, in the top right corner

4. Tap on End Term Deposit Early

5. Confirm that you’d like to end the term deposit early 

6. The deposit amount, minus the fees, will be transferred to your oldest active Personal Bank Account.  

How can I check my Cancellation Penalty Fee? 

You can check the deposit cancellation penalty fee by following these steps: 

1. Go to Your Profile 

2. Tap on Archive 

3. Tap on Bank Accounts 

4. Select your closed Term Deposit Account 

5. You’ll see the Term Deposit Cancellation Penalty fee displayed here. 

How much can I deposit?

• Minimum deposit: €1,000

• Maximum per Term Deposit: €100,000

• Total maximum across all Term Deposits: €100,000

You can open multiple Term Deposits, but the combined total of Term Deposit accounts can't exceed €100,000. 

How does this affect my savings interest?

You'll earn interest on total savings, including Savings Accounts and Term Deposits, up to a total of €100,000. 

This means if you have €80,000 in a Term Deposit and €40,000 in a regular Savings account, interest is only earned on the first €100,000. If you have funds in both a Term Deposit and a regular Savings Account, we always prioritize paying interest on your Term Deposit first. For example: 

Imagine your total savings are €120,000, divided as follows:

• €80,000 in a Term Deposit

• €40,000 in a regular Savings Account

You’ll receive the Term Deposit interest on the full €80,000. Then, you’ll earn the regular savings interest on the remaining €20,000 of the limit (€100,000 - €80,000). The final €20,000 in your regular Savings Account will not earn interest, as you have already reached the €100,000 maximum. 

Is my money protected?

Yes. All EUR savings — including both regular Savings and Term Deposits Accounts — are protected by the Deposit Guarantee Scheme (DGS) up to €100,000.

Why can’t I open a Term Deposit? 

You may be unable to open a Term Deposit if they’re sold out at the moment you try to open it. You’ll see Temporarily Sold Out when you try to select a Term Deposit. In this case, please try again at a later point.