IBL Banca — Time Deposit
IBL Istituto Bancario del Lavoro S.p.A.
Time Deposit IBL is a lock applied to money already sitting in an IBL current account or the CONTOsuIBL deposit account: not a standalone product, but an add-on to a relationship you must already have. The rate reaches 3.50% gross at 48 months, available only with quarterly interest payment and only for activations by 30 September 2026. Intermediate terms run from 2.75% at 6 months to 3.25% at 36 months. The entry point is high by market standards — €5,000 minimum, in multiples of €250 — with a €1m ceiling and at most ten simultaneous locks. Opening and closing cost nothing. The lock is rigid: before maturity the funds cannot be accessed «not even partially».
Data & conditions
| Max gross rate | 3.5% |
|---|---|
| Max net rate | 2.39% — tax and stamp duty take 32% |
| Account type | Fixed term |
| Available terms | 3m · 6m · 12m · 18m · 24m · 36m · 48m — up to 3.5% gross |
| Early withdrawal | No |
| What early withdrawal costs | No early withdrawal: the information sheet rules out the customer obtaining access to the funds «not even partially» before maturity. A sibling product, Time Deposit IBL Svincolabile, does allow it but applies a reduced Withdrawal Rate. |
| Interest compounding | Quarterly |
| Interest paid upfront | No |
| Stamp duty | Paid by you — 0.2% of the balance per year |
| When stamp duty is charged | Charged at maturity, pro-rata by days |
| Deposit amount | €5,000 – €1,000,000 |
| Deposit guarantee | EU guarantee €100,000 |
| Automatic rollover | No |
| Requires a linked current account | Yes |
| Joint account | Yes |
| Supported countries | EEA · 1+ countries |
| Regulator | Banca d'Italia |
| Segment | B2C |
| Funding / solidity | Parent company of the IBL Banca group, historically specialised in salary-backed lending |
| MiCA / License status | Licenza bancaria (Albo Banche n. 5578 · ABI 03263) Italian banking licence (Bank of Italy) |
Strengths
- 3.50% gross at 48 months, the best in its category on the verification date, with zero cost to open or close the term.
- Stamp duty is calculated pro-rata to the days locked and charged at maturity, rather than taken upfront on an idle balance.
- Up to ten simultaneous terms within the €1m ceiling: maturities can be staggered across different durations.
- No notable sovereignty advantage documented.
Weaknesses
- The information sheet publishes a «net annual credit rate» of 2.59% on the 48-month term, but that figure is net of the 26% withholding tax only: it ignores stamp duty, which the same page charges to the customer. Counting stamp duty too, the real net rate is 2.39%.
- A €5,000 entry threshold — five times that of rivals like Banca Ifis or illimity — and amounts locked only in multiples of €250.
- An existing IBL relationship is required: Time Deposit is an add-on to an IBL current account or the CONTOsuIBL deposit account, not a standalone product.
- The 3.50% is tied to an offer expiring on 30 September 2026 and subject to the plafond running out.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Italian banking licence (Bank of Italy)): reporting to authorities and freezes on order.
Verdict
Score 3.6/5, solid profile. In its favour: 3.50% gross at 48 months, the best in its category on the verification date, with zero cost to open or close the term. The trade-off to weigh: the information sheet publishes a «net annual credit rate» of 2.59% on the 48-month term, but that figure is net of the 26% withholding tax only: it ignores stamp duty, which the same page charges to the customer. Counting stamp duty too, the real net rate is 2.39%.
On the Sovereignty lens the score is 0.4/5 (weak): the strength is censorship resistance (1.5/5), while fund control (0.0/5) is the weak link.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Why does IBL say 2.59% net and you say 2.39%?
Because they are two different "nets". The «net annual credit rate» IBL publishes in its information sheet is the gross rate minus the 26% withholding tax: 3.50 × 0.74 is exactly 2.59. What is missing is the 0.2% annual stamp duty on the balance, which the same information sheet charges to the customer a few lines below. Subtracting that too gives 2.39%. The check works on any row of the table: at 90 days IBL states 1.41% net on 1.90% gross, and 1.90 × 0.74 is 1.406.
When is stamp duty charged?
At maturity, calculated pro-rata to the actual duration, plus the portion accrued to 31 December each year. This is more favourable than banks that take stamp duty at every quarter-end, because it does not erode capital during the lock-up.
Can I withdraw before maturity?
Not with Time Deposit IBL: the information sheet rules out the customer obtaining access to locked funds «not even partially» before the agreed maturity. IBL does offer a sibling product, Time Deposit IBL Svincolabile, which permits withdrawal at a lower Withdrawal Rate, with funds made available within 24 working hours. There is also Deposito Libero 31, which returns the funds on 31 days' notice.
Do I need to open an IBL current account?
Yes. Time Deposit is defined as a lock on money already in the account and is an add-on to an existing relationship: an IBL Start, IBL Plus, Sviluppo, Investimento, ControCorrente or ControCorrente Dipendenti current account, or the CONTOsuIBL deposit account.
Does the term roll over automatically?
No. At maturity the Time Deposit closes automatically and the funds are credited back to the current account. Automatic rollover is excluded, so the capital becomes available without having to cancel anything — but it also stops earning until a new term is activated.
Sources
- Official service page Importi · Svincolo · Bollo Data verified on Jul 27, 2026