💡 Want to learn more about term deposits? Find all information regarding these interest-bearing accounts on this page.

You have two solutions for closing your account: wait for its natural closure at the end of the contract, or close the account early (coming soon!).

What happens at the end of the contract?

When the period chosen for your term deposit has ended, your account will be closed automatically. Your funds and interest earned are thus deposited to your main Qonto account automatically in a couple of days.

Your term deposit is thus not renewed automatically. However, if you like, you can place your money in a new term deposit.

How do I close my account early?

This feature will soon be available on your Qonto account.

What are the tax consequences of closing the account?

Term deposits do not benefit from specific tax benefits. Term deposits are subject to taxation and, if applicable, to social security contributions as per the applicable regulations. For more information, visit this page created by our partner My Money Bank.

Please contact your accountant or financial advisor for more information on tax treatment applicable to your case.

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