illimity — Conto Deposito
illimity Bank S.p.A. (Gruppo Banca Ifis)
tax and stamp duty take 31%
Data verified on last change 3,35% → 4,00% the sources
Worth it if you already hold an illimity current account and want to lock at least €5,000: 4.00% gross at 12 months is the same on Classic and Premium, and the term waives the Classic fee.
Avoid it if you are not already an illimity customer, or you need early-withdrawal flexibility: on the best-rate lines the money stays locked until maturity, even if you terminate the contract.
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 to 4.00% gross at 12 months, then 3.10% at 18 months, 3.35% at 24 and 36 months and 3.60% at 48 and 60 months. On the Premium package the same lines pay 0.30 points more, up to 3.90%, except at 12 months where the rate is the same 4.00%; 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, into which it merges from 7 December 2026: the product page no longer exists, and the only published information sheet for the illimity current account is reserved for existing holders.
Data & conditions
| Max gross rate | 4% |
|---|---|
| Max net rate | 2.76% — tax and stamp duty take 31% |
| Account type | Fixed term |
| Available terms | 6m · 12m · 18m · 24m · 36m · 48m · 60m — up to 4% 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 | Yearly |
| 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
- 4.00% gross (2.76% net) at 12 months with no fee at all, provided the current account stays on the Classic package and at least €5,000 sits locked; on long terms, 3.60% at 48 and 60 months.
- 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 Premium package's higher rates (up to 3.90% at 48 and 60 months) require an €84 annual fee: below €22,400 locked, that fee eats more than the extra 0.30 points they promise. We headline 4.00% at 12 months, the same on Classic and Premium, obtainable without paying a fee.
- It is not a standalone product: it needs an illimity current account, and the only information sheet for that account published today in the Transparency section (updated 20 October 2026) is reserved for existing holders of an illimity Smart or Plus account. The deposit account's product page no longer exists.
- From 7 December 2026 illimity merges into Banca Ifis: from that date the Italian guarantee scheme's €100,000 cover applies to the combined deposits at illimity and Banca Ifis (Rendimax included), and the current account gets a new IBAN.
- 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: 4.00% gross (2.76% net) at 12 months with no fee at all, provided the current account stays on the Classic package and at least €5,000 sits locked; on long terms, 3.60% at 48 and 60 months. The trade-off to weigh: the Premium package's higher rates (up to 3.90% at 48 and 60 months) require an €84 annual fee: below €22,400 locked, that fee eats more than the extra 0.30 points they promise. We headline 4.00% at 12 months, the same on Classic and Premium, obtainable without paying a fee.
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.
Reputation
What happened to people who used illimity — Conto Deposito, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
No known incidentSearch across public sources: no known hack, withdrawal freeze or regulatory action as of the verification date.
verified on
Public reviews
- App Store ↗ 4.5/5 10,507 reviews
- Trustpilot ↗ 1.8/5 ~ 534 reviews
Weighted average across 2 public review platforms (11,041 reviews in total), weighted by volume. This is not our rating: it is those platforms’ average.
FAQ
Is upgrading to Premium worth it?
Not at 12 months: the 8 October 2026 information sheet gives 4.00% on both packages. On the other terms Premium adds 0.30 gross points (for example 3.90% instead of 3.60% at 48 and 60 months) and only pays off 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 4.00% actually pay?
After the 26% withholding tax and the 0.2% annual stamp duty on the balance, 4.00% gross becomes 2.76% 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. And the current account information sheet published today (updated 20 October 2026) is reserved for existing holders of an illimity Smart or Plus 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: on the Classic package 2.00% at 6 months, 3.40% at 12 months, 2.75% at 24 and 36 months and 3.00% at 48 and 60 months.
What changes with the merger into Banca Ifis?
illimity's merger into Banca Ifis takes effect on 7 December 2026. According to Banca Ifis's FAQ for illimity retail customers, active deposit lines run to maturity at the same rates and new ones can still be opened at the rates in force. The current account will get a new IBAN. The Italian guarantee scheme's €100,000 cover will apply to the combined deposits at illimity and Banca Ifis: anyone who also holds a Rendimax account must count them together.
Sources
- a.storyblok.com Importi · Svincolo · Bollo Data verified on Nov 4, 2026
- bancaifis.it Data verified on Nov 4, 2026
- illimity.com Data verified on Nov 4, 2026
Update history
- tasso_lordo_max_pct 3,35% → 4,00% Information sheet of 8/10/2026: on Classic non-withdrawable lines 12 months rises from 2.85% to 4.00% and 48 and 60 months from 3.35% to 3.60%. The product page no longer exists: illimity merges into Banca Ifis from 7/12/2026.