Banca Mediolanum launches 4% interest rate promotion

Banca Mediolanum has launched a new promotion for its Mediolanum Time Deposit account, offering a 4% gross annual interest rate for a six-month term. To qualify for this rate, customers must open a SelfyConto online current account by October 30 and establish the time deposit by November 6. Additionally, customers must credit their salary to the account within one week prior to the deposit's expiration.

The promotion applies to deposits ranging from a minimum of 100 euros to a maximum of 500,000 euros. A key feature of this offer is that deposited funds can be withdrawn at any time without losing the interest already accrued. The interest rate is fixed for the entire duration of the six-month term.

The associated SelfyConto online account is free for the first year, and for individuals under 30, the fee is waived for up to 30 years. Following this period, a monthly fee of 3.75 euros applies, though this can be waived by crediting a salary or maintaining monthly spending of at least 500 euros. The account includes a Mastercard-branded digital debit card and access to various banking services.