Banca Sistema — SI conto! DEPOSITO
Banca Sistema S.p.A.
SI conto! DEPOSITO is Banca Sistema's fixed-term deposit, and its merit is not the headline rate but a line in the information sheet: stamp duty is paid by the Bank. On deposit accounts that duty is worth 0.2% of the balance every year, so absorbing it changes the arithmetic. The 3.00% gross at 60 months becomes 2.22% net, while a competitor paying 3.20% gross and leaving the duty to the customer stops at 2.168%: the lower rate pays more. The maturity ladder is the market's densest — thirteen terms from 3 months to 10 years — with entry from just €500. In exchange the lock is absolute: early repayment cannot even be requested.
Data & conditions
| Max gross rate | 3% |
|---|---|
| Max net rate | 2.22% — tax and stamp duty take 26% |
| Account type | Fixed term |
| Available terms | 3m · 6m · 9m · 12m · 18m · 24m · 30m · 36m · 42m · 48m · 54m · 60m · 120m — up to 3% gross |
| Early withdrawal | No |
| What early withdrawal costs | No early withdrawal: the information sheet states that «early repayment of locked funds cannot be requested». As an alternative the bank offers SI conto! SUBITO, a loan secured against the locked deposits: you do not break the term, you borrow against it. |
| Interest compounding | At maturity |
| Interest paid upfront | No |
| Stamp duty | Paid by the bank |
| Deposit amount | €500 – — |
| Deposit guarantee | EU guarantee €100,000 |
| Requires a linked current account | No |
| Joint account | Yes |
| Supported countries | EEA · 1+ countries |
| Regulator | Banca d'Italia |
| Segment | B2C |
| Funding / solidity | Listed bank specialised in public-sector factoring and salary-backed lending |
| MiCA / License status | Licenza bancaria (Banca d'Italia) Italian banking licence (Bank of Italy) |
Strengths
- Stamp duty is paid by the Bank: 0.2 points a year that stay with the customer, and the reason 3.00% here beats a rival's 3.20% that charges the duty.
- Thirteen terms, from 3 to 120 months, with intermediate steps (9, 30, 42, 54 months) almost no competitor offers: the maturity can be matched to a real horizon.
- €500 entry threshold, the lowest among the deposits verified, with opening, closing, deposits, withdrawals and account fee all free.
- Anyone needing liquidity without breaking the term can use SI conto! SUBITO, a loan secured against the deposit itself.
- No notable sovereignty advantage documented.
Weaknesses
- Absolute lock-up: the information sheet rules out early repayment even being requested. The only way out is to borrow against your own deposit.
- A payment made without simultaneously specifying the term is automatically locked for 12 months: an absent-minded transfer becomes a year of unavailability.
- Repayment at maturity happens «at the written request of the Customer» within fifteen days: it is not an automatic credit on the maturity date.
- Sums cannot be added to terms already established: depositing more means opening a new term at whatever conditions apply then.
- 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 4.0/5, very strong profile. In its favour: stamp duty is paid by the Bank: 0.2 points a year that stay with the customer, and the reason 3.00% here beats a rival's 3.20% that charges the duty. The trade-off to weigh: absolute lock-up: the information sheet rules out early repayment even being requested. The only way out is to borrow against your own deposit.
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
How can 3.00% pay more than another bank's 3.20%?
Because here stamp duty is paid by the bank. On a deposit account that duty is 0.2% of the balance each year and is subtracted in percentage points, not proportionally. So Banca Sistema's 3.00% loses only the 26% withholding tax and lands at 2.22% net, while a 3.20% with customer-paid duty gives 3.20 × 0.74 − 0.2 = 2.168%. Five hundredths of a point in favour of the nominally lower rate: the clearest case of why the headline number is not enough.
Can I take the money out before maturity?
No. The 22 June 2026 information sheet states that early repayment of locked funds cannot be requested. Banca Sistema instead offers SI conto! SUBITO, a loan secured against the locked deposits: the term stays in place and liquidity is obtained by borrowing, with its own costs under a separate contract.
What happens if I pay money in without choosing a term?
The funds are automatically locked for 12 months. It is written in the information sheet and is the product's main operational trap: a transfer sent without simultaneously specifying the term stays blocked for a year.
Does the money come back automatically at maturity?
Not automatically. Repayment is made by the Bank «at the written request of the Customer», within fifteen days of the term's maturity, credited to the predefined current account or by banker's draft at a branch.
How protected is the deposit?
Banca Sistema belongs to the Italian Interbank Deposit Protection Fund, covering up to €100,000 per customer. The 120-month term allows deposits for ten years, but the guarantee stays at that threshold: above it, the excess is exposed to counterparty risk and bail-in.
Sources
- Official service page Svincolo · Spese Data verified on Jul 27, 2026