Negative interest rates in banks on savings accounts.

Several institutions decided to introduce fees for holding savings after the interest rate cut by the Monetary Policy Council. The NBP interest rate fell to 0.10%, which had a direct impact on the banks that value deposits. Some institutions have decided to introduce fees for keeping money in savings accounts. EnveloBank - digital Bank Pocztowy was the first to announce that from September the interest rate will be 0.01%

and the account maintenance fee is PLN 1.99 per month if the customer has a ROR account, otherwise the fee will be PLN 2.99. The next bank that will start charging fees is CitiBank Handlowy. Fees will be charged on foreign currency accounts in EUR for CitiKonto, CitiPriority, CitiGold and CitiGold Private Client holders. This applies to people who create an account after August 20, 2020 and will depend on the account balance. The amount will be increased as the savings on the account increase up to PLN 180.

Bank PKO BP also declared fees for maintaining a savings account. PKO BP charges PLN 1 for servicing the account, the interest rate of which is 0.2%, which leads to a situation where the profit is absorbed by fees. At Alior Bank, the interest rate on the savings account is 0. A savings account based on the WIBOR 1M index reduced by 0.75 percentage point gives a negative value. Alior does not charge negative interest rates, but also does not pay any interest for keeping funds in a savings deposit.