illimity — Conto Deposito
illimity Bank S.p.A. (Gruppo Banca Ifis)
The illimity deposit account cannot be opened on its own: it is reserved for existing illimity current account holders, and the rate you get depends on which package that account runs. On Smart, Plus or Classic, non-withdrawable fixed lines pay from 2.60% at 6 months up to 3.35% gross from 24 to 60 months. On the Premium package the same terms rise to 3.65% — but that package costs €21 per quarter. Alongside sit withdrawable lines paying markedly less (2.75% vs 3.35% at 24 months): the price of flexibility, stated in black and white. Minimum €1,000 per line, overall ceiling €20m, deposits covered by the Italian guarantee scheme up to €100,000. Since 2025 illimity has been wholly owned by Banca Ifis.
Data & conditions
| Max gross rate | 3.35% |
|---|---|
| Max net rate | 2.279% — tax and stamp duty take 32% |
| Account type | Fixed term |
| Available terms | 6m · 12m · 18m · 24m · 36m · 48m · 60m — up to 3.35% gross |
| Early withdrawal | No |
| What early withdrawal costs | On lines without early-withdrawal rights the money stays locked until maturity «even if the deposit contract is terminated». Parallel withdrawable lines exist but pay far less: 2.75% instead of 3.35% at 24 months. |
| Interest compounding | At maturity |
| Interest paid upfront | No |
| Stamp duty | Paid by you — 0.2% of the balance per year |
| Deposit amount | €1,000 – €20,000,000 |
| Deposit guarantee | EU guarantee €100,000 |
| Requires a linked current account | Yes |
| Joint account | Yes |
| Supported countries | EEA · 1+ countries |
| Regulator | Banca d'Italia |
| Segment | B2C |
| Funding / solidity | Digital bank founded in 2019, wholly owned by Banca Ifis since 2025 and subject to its direction and coordination |
| MiCA / License status | Licenza bancaria (Albo Banche n. 5710) Italian banking licence (Bank of Italy) |
Strengths
- 3.35% gross held flat from 24 to 60 months with no fee at all, provided the current account stays on the Classic package and at least €5,000 sits locked.
- The Classic package's €9 quarterly fee is waived precisely by keeping money on the deposit: opening a term effectively pays for the current account.
- Ceiling of €20m and a €1,000 minimum per line: multiple maturities can be staggered without size constraints.
- No notable sovereignty advantage documented.
Weaknesses
- The advertised 3.65% requires the Premium package, which costs €84 a year: below €22,400 locked, that fee eats more than the extra 0.30% it promises. We headline 3.35% — the rate obtainable without paying anything.
- It is not a standalone product: an illimity current account must be opened first, so assessing the deposit means assessing that account's costs too.
- On non-withdrawable lines the money stays locked until maturity even if the contract is terminated: flexibility exists only on withdrawable lines, which pay 0.60 points less at 24 months.
- 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 3.7/5, solid profile. In its favour: 3.35% gross held flat from 24 to 60 months with no fee at all, provided the current account stays on the Classic package and at least €5,000 sits locked. The trade-off to weigh: the advertised 3.65% requires the Premium package, which costs €84 a year: below €22,400 locked, that fee eats more than the extra 0.30% it promises. We headline 3.35% — the rate obtainable without paying anything.
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
Is upgrading to Premium worth it for the 3.65%?
Only above roughly €22,400. Premium costs €84 a year in fees but waives the current account's €34.20 stamp duty, so the real extra cost is €49.80 a year versus a Classic package with the fee waived. In return it pays 0.30 gross points more, or 0.222 net points. Break-even lands at 49.80 / 0.00222 ≈ €22,400 locked. Below that, Premium loses money; above it, it starts earning.
What does 3.35% actually pay?
After the 26% withholding tax and the 0.2% annual stamp duty on the balance, 3.35% gross becomes 2.279% net. Stamp duty on the deposit account is borne by the customer and is proportional, so the net percentage does not change with the amount deposited.
Can I open just the deposit account?
No. The information sheet defines it as a relationship «reserved for customers who already hold an illimity current account». The deposit account does not exist as a separate product: funds arrive by internal transfer from the illimity current account.
How do I avoid the current account fee?
On the Classic package the quarterly fee is €9, but €3 is discounted for each month of the quarter in which at least one of two conditions holds: a salary or pension credit, or at least €5,000 held on deposit lines without early-withdrawal rights, measured at month end. Anyone holding a term of at least €5,000 therefore reduces the fee to zero. The current account's stamp duty still applies: €34.20 a year above €5,000 average balance.
Can I withdraw early?
It depends on the line chosen at opening. Lines «without early-withdrawal rights» — the ones carrying the higher rates shown here — do not allow it, and the information sheet states the lock survives even termination of the contract. Lines «with early-withdrawal rights» do allow it under the agreed closure terms, but pay less: 2.00% at 6 months and 2.75% from 24 months upward on the Classic package.
Sources
- a.storyblok.com Importi · Svincolo · Bollo Data verified on Jul 27, 2026