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Komerční banka Savings Account: who it's for

Komerční banka's savings account is a flexible product for setting money aside outside your current account, with no fixed term. It suits clients who are opening their first product with KB as well as those who already keep savings elsewhere and are considering moving them for a higher rate.

Interest: base rates by tariff and a 3.5% p.a. bonus rate

The interest rate depends on which current-account tariff the client also holds with KB. Up to a balance of CZK 200,000, the following standard rates apply:

• Savings account only, or the free Start tariff: 1% p.a.
• Standard tariff: 1.50% p.a.
• Komfort or Exclusive tariff: 2.50% p.a.

On top of these rates, the bank offers a bonus rate of 3.5% p.a., on a balance of up to CZK 1,000,000. This rate isn't permanent, though — once the conditions described below are met, it stays active for 6 months.

How to get the bonus rate

The conditions differ depending on whether the client is new to KB or already holds another product with the bank:

• New clients: simply open a savings account and, within 3 months, arrange any current-account tariff with it (even the free Start tariff) – the bonus rate then activates automatically.
• Existing clients: must make a one-off transfer of at least CZK 100,000 in Czech crowns from another bank into the savings account and then activate the bonus themselves in KB's internet banking or the KB+ app.

If a client meets none of these conditions, only the standard rate for their tariff, described above, applies.

Fees and additional features

Maintaining and managing the savings account is free, as are transfers between the client's own accounts. The account also offers free savings envelopes, which let you split savings into sub-goals, and an "iron reserve" feature for setting aside part of your savings for unexpected expenses. Opening the savings account itself doesn't require a current account with KB – but for new clients, a current account is a condition for getting the bonus rate.

Summary

Komerční banka's savings account makes most sense for clients willing to also set up a current account with it, or who have at least CZK 100,000 free to transfer from another bank – only that way do they reach the 3.5% p.a. bonus rate on balances up to CZK 1,000,000. Without meeting these conditions, the rate stays at 1% to 2.50% p.a. depending on the chosen tariff, which is no longer particularly outstanding. Still, an account with no maintenance fees and free tools for organizing savings is a solid choice, especially for clients who already bank with KB.