- Protected up to an equivalent of €100,000
- Funds can be terminated early
Privatbanka from Bratislava, Slovakia was founded in 2005. It was the first bank in Slovakia to specialize in offering private banking services, individual investment strategies, and tailored investment solutions for affluent clients. The bank has since expanded its activities to other areas including corporate banking while also growing its retail banking segment with term deposits and corporate bonds.
Privatbanka’s professional team of bankers along with it’s experts in financial markets have helped it consolidate its position in the private banking market, bringing customer deposits under management to 530 million euros. This has enabled Privatbanka to become a dynamic and growing provider of private banking in Slovakia and the Czech Republic. Privatbanka, despite its small size, belongs to one of the banks with the highest long-term profitability in Slovakia. Last year, its net profit amounted to 9.4 million euros.
- Prolongation is only possible 28 to 5 days before termination
- 100% online
- Interest reinvested
Tax process and documents
As a private investor, you are subject to taxation of your interest income in your country of tax residence. The interest income must be stated in your tax return. All required documents should be provided on time.
In the Slovak Republic 19 % withholding tax is levied on interest income from deposits. However, if customers provide Raisin with a certificate of tax residence by Irish Revenue at least 4 weeks before the maturity of the term deposit, than according the Convention between Ireland and the Slovak Republic for the avoidance of double taxation no withholding tax will be levied.
You cannot submit an exemption order for investments abroad. You are required to include foreign interest income in the tax return.
Additional tax information can be found at www.raisin.ie/tax
Please note that the specific tax treatment depends on your personal circumstances and that there may also be future changes in the tax treatment. For individual clarification of tax issues, please consult your tax adviser.