Interest rates in Poland

I know the current rates for a term deposit is about 4%, but one of my relative in Poland has mentioned that you can get between 40% and 70% per year in a scheme offered by the banks.
Is anybody aware of such a investment scheme and is it secure.
I know in the early 90's there was a investment product that offered 70% return and this was honored.
I wonder if its too good, its too good to be true rule still applies?

Thanks in advance.

40-70% - if anything, it sounds like a scam scheme (unless it's a short term loan, but not annual).. If that was true, the foreign ivestors would flock to Poland ;).

I was looking at the Pioner Pekao site (pionier fundusz), interesting, with interest like that why would you bother going into real estate.

Its not secure - those are funds based on equity investments, mainly in Polish stock market. So last year they gave exceptional returns because the market did well

70% is not a bad return, I think the stock market will do very well for some time. If the stock markets crash so will the real estate market.
Shares in food companies can only go up.

I think it's a great annual return. But you still have to pay tax on that.


Organic for sure.

true, you still pay tax when you profit from real estate, and this seems hassle free.
This product has been on the market for a long time and to date it has done very well.
(it also has the backing of Polands biggest bank)

But the bessa is every few years, so it's a little like playing the lottery.