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Savings week has started - and you’re asking yourself - how can I save?

What do you need to know about savings and how to choose a bank?

For the past 85 years, the last day of October has been known as World Savings Day. This is why, symbolically, the first week of November is known as Savings Week, and during this week we are providing you with all the necessary information you need. For this reason, if you have decided to become a saver, carefully read the following, helpful information.

What do you need to know about saving?

Saving is much more than just putting money in the bank. It is a personal way of life, a responsible approach to one’s future, but also a way of earning a passive income. 

We’ve already talked about what a deposit is, and here are a few things concerning saving that you need to know before you decide to deposit your funds with us:

  • Interest earned on savings is the price the bank pays its clients for allowing it to use their funds - in simpler terms, a bank gathers funds from individuals who are not currently using them and channels these funds through loans to clients who need the money for varying purposes, such as investments, projects, or improving quality of life. In return, the bank pays you, its savers, interest.
  • If you save in a foreign currency, there is an obligation to pay tax on capital gains (in Serbian, it’s 15%). Therefore, when calculating interest income, always consider the effective interest rate, as it reflects the actual profit. If you wish to understand the proper method for calculating savings yields, click here. For precise calculations, use our calculator. 
  • Interest rates may be calculated annually, however, we at ProCredit, calculate interest monthly. In other words, you will receive an inflow of interest onto your account every month. 
  • Interest rates are fixed on both term and FlexSave deposits. With a fixed interest rate, you always know where you stand, which gives you room to relax and plan accordingly. 

How do I choose the right bank to save with?

You've probably heard the phrase "If you don't plan to invest, depositing your funds with a bank is the safest option" countless times, but you might still be wondering how go about selecting the right bank. Here's what you should pay attention to:

Liquidity and Bank Rating

Think of a bank as a large hat filled with a multitude of banknotes. When people deposit money into their accounts, the hat slowly begins to fill up. Simultaneously, when clients withdraw their funds or perform transactions, money flows out of the hat. A bank's liquidity refers to its ability to maintain balance between the inflow and outflow of funds. It is often said that a bank's liquidity is critical to maintaining client trust and financial system stability. ProCredit Bank has been operating steadily from the very beginning, which is reaffirmed each year by the fact that the bank is awarded the highest investment rating in Serbia.


Of course, when entrusting your funds to another, it is crucial that they remain secure. Therefore, when it comes to us, it's important for you to know: 

  • In addition to the regulations of the National Bank of Serbia, we also adhere to the exceptionally stringent rules of the German Central Bank. 
  • Our operations are regularly monitored by the German Federal Financial Supervisory Authority (BaFIN), which oversees how we conduct our business and in what manner. 

And most importantly, we:

  • Engage solely in secure investments in production, services, and agriculture, meaning we do not invest in the stock market or speculative ventures
  • Exercise careful assessment when approving loans, determining whom and how much we can lend to – we provide loans only to those capable of repayment.
  • The Republic of Serbia guarantees amounts up to €50,000, and we guarantee all deposits with our entire assets


Is there a minimum amount required to open a savings account? Is there an early withdrawal fee? What is the maintenance fee on a savings account? These, and many other questions, may be crucial factors in choosing a bank and type of savings account. We offer two forms of savings - a classic Term Deposit and FlexSave. And while each bank offers its own advantages, that we will look at further in the text, it is important to know:

  • This type of saving is available with our Free, Standard (150 RSD) or Total Package Account (595 RSD)
  • With FlexSave your funds are always available, and can easily be transferred from one account to another via mBanking and eBanking applications, and you can withdraw funds daily at our ATMs. As far as interest is concerned, you will receive interest on the number of days your funds were available on the account.

Availability and User Support

We don’t have branches on every corner, but we are available online - 100%.

In practical terms, what does this mean? Simply put, this means that you have your bank available to you in the palm of your hands, that is, your bank is always with you!

  • Our Online Centre is available to you daily from 08:00 to 20:00, and Saturdays from 08:00 to 12:00
  • We take ‘100% online’ seriously, which is why you can contact us via social media as well through Facebook and Instagram
  • Also, use our 24/7 Zones to perform almost everything you need to with us, and if there is a ‘glitch’, do not worry – each of our 24/7 Zones is equipped with an Info Telephone that you can use to call our colleagues who are here to offer their assistance 

Naturally, we understand our clients who prefer to speak to someone in person, which is why you have the option to call and make an appointment at one of our service points.

Interest Rates

Although we have already provided you with everything you need to know concerning interest rates, it’s perfectly natural that you will be hoping for nice profits. This is why we have prepared special terms and conditions for our new depositors!

Now that you have understood what savings entail, how the bank manages your money, and what factors to consider when choosing a bank, several questions will naturally arise...

Why save?

Understanding savings can motivate you to transform from someone who spends money recklessly into a financial expert. There are three main reasons why saving is beneficial:

  • Peace of Mind - You can relax knowing you have money should you need it, that is, in an emergency you’re your car breaks down or you suddenly find yourself unemployed.
  • Future Planning - Saving reduces the likelihood of falling into debt and allows you to build a better future for yourself and/or your family. For instance, you can save for your children's education, a home, and so much more.
  • Hedonism - Let's admit it, we are all hedonists in our own specific ways. Some enjoy traveling, others prefer fashionable clothing, some indulge in technology, and some savour fine dining. Saving can serve as a passive income that enhances our lives, making it more enjoyable and interesting.

How to save money?

Saving can seem challenging, but that doesn't make it impossible! 

We suggest you adhere to the following rules:

  • A CLEAR GOAL - What am I saving for? What am I trying to achieve? 
  • TIME - How much time do I need to achieve my goal? What is the maximum and the minimum amount of time that I wish to save my money for?
  • DECIDE ON A BUDGET - Given the amount of funds at your disposal, your goal and time - how much can I afford to put aside?
  • SAVINGS MODEL - Ask yourself - what type of savings would best suit my needs and choose the best model for you.

Even though all of these steps are important, in order to become a successful saver, the final step, i.e., choosing the right savings model is crucial. 

Even if you don’t really know how to manage money, and you get the ‘chills’ just thinking about saving, we recommend FlexSave.  As the name itself tells you, this type of savings is completely adapted to you because you are free to add to or withdraw funds. And here are a few more advantages to this model:

  • There is no set minimum amount you can deposit  
  • You do not have to visit the bank to set up this savings account
  • You can manage your funds online 
  • Your funds are available to you 24/7
  • You can save in RSD, EUR and USD currencies

This flexible savings model may be the right way to teach yourself the habit of saving. Easily and effortlessly, deposit the RSD 10,000 you keep in the hidden compartment of your wallet. If you need the funds, you’ll have them available to you...with interest!

If you have a larger sum that you are not planning to spend or invest, then the Classic Term Deposit is the right choice. It’s safe to assume that your funds are not ‘burning a hole in your pocket’, so why not deposit them for a certain period with the bank. 

An advantage of this model is that it is available at high interest rates. Of course, the amount of interest depends on the term or period of the deposit, and it’s up to you to choose, again depending on all the rules, the period you wish to deposit for that suits your needs best. 

We believe now that you have all the information - it will be easier to choose the type of savings model that’s best for you. 

However, We as PROfessionals, advise you to take a look here.

I would also like to know...
It is worth saving in a bank, given the high inflation rates?

Given the global crisis and increased inflation rates, asking this question is totally reasonable. And regardless of the situation, experts agree that saving with a bank is better than keeping your funds under your mattress. The reason is simple - if inflation increases, money losses its value regardless of where its kept - but after a specific period, the bank will pay out interest to you, while your ‘shoebox’, for example, will not - it doesn’t have those kinds of magical powers.