Deposit Accounts
Basic Payment Account
Posta Pay&Save Payment Account
The PostaPay&Save Payment Account is a product of Lombard Bank Malta p.l.c. and is being offered through Maltapost outlets and Lombard Bank Branches.
What do I need to open an account?
At the time of application you will need to present the following documentation:
- An unexpired identification document which confirms that you are legally resident in Malta or in any other European Union Member State.
- Proof of your address such as a recent utility bill for a fixed service or rental agreement or similar in your name. This is not required if the correct address is displayed on the identification document. In cases of no fixed address, other documents are to be requested as required.
- Documentation to verify your expected deposits e.g. documents relating to your income and/or employment details.
Further information can be found at the following link (click here)
Current Accounts
Our Current Accounts are designed to help you take complete control of your money and to allow you to manage your day-to-day finances simply and in a straightforward manner.
How do they work?
- You can apply for a free Visa debit card, which may be used on any ATM (charges may apply) or at any retail outlet displaying the Visa logo
- You may request the issue of a chequebook
- You will also have the facility to establish Standing Orders for regular payments.
- Finally, you can use our convenient Internet Banking Service to make transfers between your own accounts, as well as to third-parties having an account with us or with other banks.
What do I need to open an account?
Before opening an account for you, suitable documentation will be required to enable us gather sufficient information to understand your financial dealings with the Bank and the purpose for which you intend to use the account. By way of basic requirement we would need to identify you. The additional documentation necessary depends on your specific circumstances.
Savings Accounts
Our Savings Accounts provide an easy and secure way for you to set aside money for your future or for a rainy day; in fact, your money will be readily available should you want to withdraw it.
How do Lombard Bank Savings Accounts work?
- A Savings Account entitles you to receive interest, which is calculated daily on all the cleared balance and credited annually to the account.
- You may carry out as many transactions as you like without incurring any charges. Account management fees may apply.
Good to know! Your Savings Account can be used to receive Direct Credit transfers, such as your salary, quickly and efficiently. To set up Direct Credits you will need to quote the IBAN version of your Savings Account number. IBAN is found on your account statement. Alternatively click here to generate IBAN.
What do I need to open an account?
Before opening an account for you, suitable documentation will be required to enable us gather sufficient information for us to understand your financial dealings with the Bank and the purpose for which you intend to use the account. By way of basic requirement we would need to identify you. The additional documentation necessary depends on your specific circumstances. A minimum initial deposit of €500 is required to open a euro account, however other minimum amounts apply for accounts in currencies other than the euro.
Term Deposit Accounts
Our Term Deposit Accounts give you the option of investing surplus money for a definite period of time, all the while receiving a higher rate of interest. This is a low-risk investment, ideal to assist you in growing your wealth and planning for your future financial needs.
How do they work?
- Once you deposit money in a Term Deposit Account, that money cannot be used or withdrawn before the agreed date
- This account gives you very attractive interest rates, calculated on a daily basis
- A choice of terms, ranging from one month to three years, is available to suit a range of needs
Good to know! On terms of up to 12 months, interest is usually paid on maturity - though interest may be paid monthly upon request. For terms exceeding 12 months, interest is usually paid annually.
How do I open an account?
Before opening an account for you, suitable documentation will be required to enable us gather sufficient information for us to understand your financial dealings with the Bank and the purpose for which you intend to use the account. By way of basic requirement we would need to identify you. The additional documentation necessary depends on your specific circumstances. A minimum initial deposit of €2,000 (or the equivalent in another currency) is required to open a term deposit account.
Terms and Conditions
XTRA Deposit Accounts
Like our Term Deposit Account, the XTRA Deposit Account gives you the option of investing surplus money for a definite period of time. In this case the available maturities are more of a long-term nature. This is a low-risk investment that will offer a better rate of return throughout the deposit’s term.
How do Xtra Deposit Accounts work?
They operate in a similar way to our Term Deposit Accounts with the following additional features:
- The minimum deposit required to open an Xtra Deposit Account is €3,000. The maximum allowed amount is of €200,000.
- The XTRA account offers you very attractive interest rates, usually increasing every year until maturity.
- A choice of maturity terms, normally between three to twelve years, will be available to suit short and longer term depositor preferences. Click here for the latest terms available.
- This product does not attract any fees or charges.
Good to know! Interest may be paid periodically upon request. In fact, interest could be paid monthly, quarterly, half-yearly, and also on an annual basis - as agreed with account holder on date of account opening.
How do I open an account?
If you are a new customer suitable documentation will be required to enable us to understand any prospective financial dealings with the Bank and the purpose for which you intend to use the account. A savings account will need to be opened in conjunction with the Xtra Deposit Account to enable the deposit of interest from the Xtra account. Existing customers need to apply at one of our Branches.
Terms and Conditions