Maximum deposit interest rate statistics
On this page you can find information about the highest fixeddeposit interest rates offered by banks in the European countries.
Our statistical database aggregates information about interestrates in more than 1000 banks. Information is provided forstatistical purposes only and should not be considered asfinancial advice.
PickTheBank does its best to keep this information precise and upto date. Nevertheless some discrepancies and delays in theinformation update are possible.
Always check conditions with the bank before opening the depositor other savings products.
Average deposit interest rate statistics
Information on average deposit interest rates in respectivecountries is also available on the European Central Bank websitehttps://data.ecb.europa.eu/main-figures/bank-interest-rates/deposits
ECB Bank interest rate statistics gather data on the interestrates set by financial institutions for euro deposits and loans tohouseholds and non-financial companies in the euro area. Thesestatistics help monitor financial trends and stability.
Collected monthly, they cover all key types of deposits and loansin euros and national currencies for non-euro countries.Breakdowns include maturity, notice periods, and loan purposes.
These stats are produced for the euro area and individual EUcountries, averaging rates across 117 categories. They includerates for deposits and loans to households and non-financialcompanies, for both new and existing loans.
Unfortunately, breakdown by bank and within the country are notincluded in ECB statistics. As well, ECB statistics are publishedafter the end of the respective month.
Why do interest rates differ in various countries?
Observations show that interest rates depend on the country. Banksin different countries set different interest rates due tovariations in liquidity level in the local financial system, demandof particular banks for new funding, and the level of sovereigncredit risk affecting the ability of local financial institutions tofind new funding on international capital markets.
Why do interest rates change from time to time and from bank to bank?
Interest rates change from time to time due to various factors,including:
Monetary Policy
Central banks, such as the European Central Bank, use interestrates as a tool to manage the economy. They adjust interest ratesto control inflation, stimulate economic growth, or curb excessiveborrowing.
ECB interest rate increase forces banks to increase their loansand deposits interest rates to remain in line with the economicenvironment.
Since the ECB interest rate is effectively an overnight rate (therate used by banks to borrow and place funds in ECB for one night)banks have to forecast ECB rate dynamics to set interest rates ontheir long-term loans and deposits.
You can check information about Key ECB interest rates here.
https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html
Economic Conditions:
Interest rates are influenced by the overall economic environment.Factors such as economic growth, inflation rates, employmentlevels, and consumer spending impact the supply and demand forcredit. In times of economic expansion, interest rates may rise tomanage inflationary pressures. Conversely, during economicdownturns, central banks may lower interest rates to encourageborrowing and stimulate economic activity.
Market Forces:
Interest rates are also affected by market forces, such as supplyand demand dynamics for loans and deposits. Banks compete forfunds and adjust their interest rates accordingly. If a bank needsto attract more deposits, it may offer higher interest rates.Similarly, if there is a high demand for loans, banks may raiseinterest rates to reflect the increased cost of lending.
Risk Factors and bank’s liquidity position:
Different banks may offer varying interest rates due todifferences in risk profiles. Banks assess the creditworthiness ofborrowers and factor in the associated risks when setting interestrates. The same works in the opposite way: the bank with lowermarket trust and lower liquidity level will tend to offer higherdeposit interest rates to attract additional customers coveringthe implied risk with interest rate premium.
Business model and market position:
It's important to note that interest rates are influenced byfactors specific to each bank's business strategy, marketpositioning, and liquidity needs (e.g. extensive business growthor outflow of existing clients can lead to liquidity deficit). Asa result, interest rates can vary between different banks based ontheir individual circ*mstances, and their strategies.
FAQs
Highest fixed term deposit rates
- Czech Republic. 3.50%
- Romania. 3.50%
- Slovenia. 3.50%
- Belgium. 3.45%
- Hungary. 3.25%
- Ireland. 3.00%
- Greece. 2.75%
- Luxembourg. 2.56%
Which country has the highest interest rate on a savings account? The Central Bank of Hungary had a base rate of 13% in 2023. This makes Hungary the country in Europe with the highest interest rate on a savings account.
What is the interest rate in the US compared to Europe? ›
US interest rates are currently at a 23-year high of 5.25% to 5.5% while in the eurozone, the ECB is currently holding rates at record highs of between 4% and 4.75%. "Interest rates are the main tool for the central bank to influence the economy," said Papadia.
What is the deposit interest rate in the EU? ›
Deposit Interest Rate In the Euro Area remained unchanged at 3.75 percent in July. Deposit Interest Rate in Euro Area averaged 1.27 percent from 1999 until 2024, reaching an all time high of 4.00 percent in September of 2023 and a record low of -0.50 percent in September of 2019.
Which country bank gives the highest interest rate on fixed deposits? ›
Countries with the highest deposit interest rates worldwide 2023. As of August 2023, the country with the highest deposit interest rate worldwide was Argentina, where the interest rate was as high as 113 percent. Second in the list came an African country, Zimbabwe, where the interest rate reached 110 percent.
Which international bank gives the highest interest rate? ›
Foreign Banks Fixed Deposit Rates
| Bank Name | Interest Rates for Tenure 1-2 years | Interest Rates for Tenure 5-10 years |
|---|
| Deutsche Bank | 7.00% - 7.50% | 7.25% |
| DBS Bank | 6.25% - 7.25% | 6.50% |
| Barclays Bank | 5.89% - 5.86% | 5.69% - 5.74% |
| Doha Bank | 6.50% - 7.30% | 4.25% |
7 more rows1. Britain – 2086 bankers earning more than €1 million. Despite benchmark manipulation scandals and a financial crisis, London still rules as the investment banking hub for Europe, putting the UK right at the top of the list.
What is the strongest bank in Europe? ›
HSBC is the largest bank in Europe based on assets, with a balance sheet total of €2,597 billion. The UK has three banks in the top 10 largest banks in Europe, according to S&P Global Market Intelligence.
What is the most prestigious European investment bank? ›
Rothschild. Rothschild is one of the world's most prestigious investment banks—and well-known names in finance. It has a 200-year-old European heritage and a formidable mergers and acquisitions unit.
What is Germany's interest rate? ›
Germany Long Term Interest Rate is at 2.46%, compared to 2.48% last month and 2.46% last year. This is lower than the long term average of 3.08%. The Germany Long Term Interest Rate is the yield received for investing in a German government issued bond with a maturity at or close to 10 years.
Countries with the highest savings rates
- Switzerland: 19.3% savings rate.
- Sweden: 13.3% savings rate.
- Netherlands: 12.3% savings rate.
- Luxembourg: 11.6% savings rate.
- France: 11.2% savings rate.
Interest Rate | Europe
| Country | Last | Previous |
|---|
| Sweden | 3.5 | 3.75 |
| Bulgaria | 3.54 | 3.53 |
| Moldova | 3.6 | 3.6 |
| Euro Area | 4.25 | 4.25 |
17 more rowsThe central bank of Hungary set the key interest rate to 13 percent on the 28th of September, making it the highest central bank interest rate in the EU as of September 2023. Despite regular decreases in the rate after that, Hungary's interest rate remained the highest, at 7.25 percent as of May 2024.
What is EU central bank deposit rate? ›
Deposit Facility: 3.75%
The rate banks can use for overnight deposits with the Eurosystem.
Which country pays the highest interest on a deposit? ›
Here are the countries with the current highest interest rates:
- Zimbabwe: 110%
- Argentina: 69.88^
- Turkey: 43.5%
- Venezuela: 36%
- Uzbekistan: 18.4%
- Sierra Leone: 15.75%
- Egypt: 14.49%
- Colombia: 13.21%
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Overview of the Best Fixed Deposit Rates in Singapore (September 2024)
| Bank | Best interest rate (p.a.) | Tenure |
|---|
| Citibank | 3.45% (Citigold Private Client) 3.35% (Citigold) 2.55% (Citi Priority, Citibanking or Citi Plus) | 3 months |
| DBS / POSB | 3.20% | 12 months |
| Hong Leong Finance | 3.00% | 6 months |
| HSBC | 3.10% | 4 months |
10 more rows5 days ago
Top Banks FD Interest Rates 2024
| FD Scheme | All Bank FD Interest Rates 2024 |
|---|
| HDFC Bank Tax Saving FD | 6.10% - 6.60% |
| IndusInd Bank Tax Saver Scheme | 6.75% - 7.50% |
| SBI Bank Tax Saving FD | 6.10% - 6.60% |
| RBL Bank Tax Saving FD | 6.55% - 7.05% |
8 more rowsAs of March 2023, Brazil has the highest real interest rate among the 40 major economies shown in this dataset. In general, countries with high interest rates offer investors higher yields on their investments but also come with higher risks due to volatile economies and political instability.
