Best Deposit Accounts 2026: Rate and Yield Ranking
Which are the best deposit accounts of 2026? We compare rates, restrictions, security and net returns of the most advantageous offers in Italy. Discover where to park your savings to grow them more.
Di raffa · 10/04/2026 · 6 min
With interest rates still at attractive levels in 2026, deposit accounts remain one of the simplest and safest instruments for growing your savings. But which one should you choose? Offers change constantly, and the differences between accounts can be worth hundreds of euros per year. In this guide, we compare the best offers available as of March 2026 and help you choose the right one for you.
Best deposit accounts of March 2026: the ranking
We analyzed the offers from leading institutions for a deposit of 20,000 euros with a 12-month lock-in:
| Bank | Gross rate | Net rate* | Net return on 20,000 € | Lock-in period | Open account |
|---|---|---|---|---|---|
| Illimity Bank | 3.80% | 2.81% | 562 € | 12 months | View offer → |
| Cherry Bank | 3.60% | 2.66% | 533 € | 12 months | View offer → |
| Banca Progetto | 3.50% | 2.59% | 518 € | 12 months | View offer → |
| Conto Arancio (ING) | 3.30% | 2.44% | 489 € | 12 months | View offer → |
| Banca CF+ | 3.20% | 2.37% | 474 € | 12 months | View offer → |
*Net rate calculated with a 26% withholding tax. Indicative data updated as of March 2026. Always verify the latest conditions on the bank's website. Past returns are not a guarantee of future returns.
How a deposit account works
A deposit account is a very simple savings instrument: you deposit a sum with a bank and in return receive periodic interest. There are two main types.
A fixed-term deposit account requires that the money remain locked for an agreed period (3, 6, 12, 18, 24 months, or more). In exchange for the lock-in, the bank offers a higher interest rate. If you withdraw before maturity, in many cases you lose the accrued interest or receive only the base rate.
A flexible deposit account (withdrawable) allows you to withdraw the money at any time without penalties. The rate is lower compared to fixed-term deposits, but you have full liquidity. Ideal for your emergency fund.
How much do you really earn: the real numbers
When a bank advertises a 3.50% rate, the return you actually pocket is different. Here's the full calculation:
| Amount deposited | Gross rate 3.50% | Withholding tax (26%) | Stamp duty (0.20%) | Net annual return |
|---|---|---|---|---|
| 10,000 € | 350 € | -91 € | -20 € | 239 € |
| 20,000 € | 700 € | -182 € | -40 € | 478 € |
| 50,000 € | 1,750 € | -455 € | -100 € | 1,195 € |
| 100,000 € | 3,500 € | -910 € | -200 € | 2,390 € |
The withholding tax on deposit accounts is 26% on accrued interest. The stamp duty is 0.20% per year calculated on the balance. Both are automatically deducted by the bank.
How to choose the right deposit account
1. Define your time horizon
If you know you won't need that money for at least 12-18 months, a fixed-term account will give you the best rate. If instead you want to keep the option of withdrawing at any time, choose a flexible account even though it yields less.
2. Check the bank's solidity
All deposit accounts in Italy are protected by the Interbank Deposit Guarantee Fund (FITD), which guarantees up to 100,000 euros per depositor per bank. This means that even if the bank were to fail, your money (up to 100,000 €) is safe. If you have larger sums, spread them across multiple banks.
3. Watch out for temporary promotions
Many banks offer very high promotional rates for the first few months, which then drop to the standard rate. Always read the full terms and conditions and verify the rate that applies after the promotional period.
4. Consider the stamp duty
Some banks absorb the stamp duty (0.20% per year), effectively giving you a higher net return. It's a detail that can make a difference, especially on large deposits.
Deposit accounts vs alternatives: where to put your savings in 2026
A deposit account isn't the only option. Here's a comparison with the most common alternatives:
| Instrument | Expected return | Risk | Liquidity | Suitable for |
|---|---|---|---|---|
| Fixed-term deposit account | 2.5-3.8% gross | Very low | Low | Those who want zero risk and have a defined time horizon |
| BOT / Short-term BTP | 2.5-3.5% gross | Very low | Medium | Those who want to diversify away from the banking system |
| Interest-bearing current account | 0.5-2.0% gross | Very low | High | Those who want total liquidity |
| Bond ETFs | 3-5% expected | Medium-low | High | Those who accept price fluctuations |
| Equity ETFs | 6-8% expected | Medium-high | High | Those investing long-term (5+ years) |
A deposit account is ideal for your emergency fund (3-6 months of expenses), for savings with a short-term goal (vacation, car, house down payment), and for those who don't want to take any risk on their capital.
How to open a deposit account: the process
Opening a deposit account online generally takes 10-15 minutes. Here are the steps:
- Choose the bank and offer that suits you (use our ranking above as a starting point)
- Register online on the bank's website with your ID and tax code
- Complete identity verification (SPID, video call, or identification bank transfer)
- Transfer the funds from your current account to the deposit account via bank transfer
- Choose the lock-in period (if you've opted for a fixed-term account)
Most online banks allow you to complete the entire process without visiting a branch.
Frequently asked questions about deposit accounts
Are deposit accounts safe?
Yes, deposits are protected by the FITD up to 100,000 euros per depositor per bank. This guarantee covers both the deposited capital and accrued interest. It's the same system that protects traditional current accounts.
Do I need to declare the deposit account in my tax return?
Interest is subject to a 26% withholding tax at source, applied automatically by the bank. You don't need to declare it separately in your tax return. However, the deposit account must be reported in the RW section if held abroad, and it must be considered for ISEE purposes.
Can I have multiple deposit accounts?
Absolutely yes. In fact, if you have more than 100,000 euros to deposit, it's advisable to spread them across multiple banks to maximize FITD coverage. You can also take advantage of different promotional offers at the same time.
What happens at the end of the lock-in period?
It depends on the bank. Some automatically renew the lock-in at the conditions in effect at the time of renewal. Others transfer the sum to the flexible account. Check the terms and set a reminder before maturity to decide how to reinvest.
Calculate your return
Want to know exactly how much you'd earn with a deposit account? Use our interest calculator to simulate the net return based on the amount, rate, and lock-in duration.
For a quick comparison of the best current offers, we recommend checking the latest conditions on Facile.it -- the most widely used comparison site in Italy for banking products.
Looking for a current account too?
For deposit transfers and account management you also need a current account. Credem is a historic Italian bank offering online account opening — a solid alternative to use as a feeder account for your deposits.
Affiliate link: if you open the account, we receive a commission at no extra cost to you.
Disclaimer: This article is for informational purposes only and does not constitute financial advice or an investment recommendation. The rates and conditions shown are for illustrative purposes and may vary. Always verify the latest conditions directly with the bank. Some links on this page are affiliate links: if you open an account through them, we may receive a commission at no additional cost to you.