Compare Countries By Deposit Rates

Deposit taking institutions offer a broad range of deposit accounts to their clients varying in maturity, withdrawal conditions and interest rates. According to ECB statistics, the most of the deposit contracts have maturity less than 1 year. This page provides information on nominal deposit rates (quoted in deposit contracts) with agreed maturity up to 1 year in local currencies.

When estimating income from a deposit, the following should be taken into account:

  • withholding tax: withholding tax is imposed on the interest gained from the deposit; withholding tax rates depend on a particular country as well as on the depositor's residency, see Compare Countries by Withholding Tax;
  • bank charges and fees: for example, a bank may charge a depositor for opening an account, maintaining the account;
  • inflation rate: real deposit rate can be calculated using expected inflation rates.

To roughly estimate the reliability of deposits in a particular country, the following two parameters are provided:

  • maximum protected amount: the maximum amount covered by a deposit guarantee system in the country;
  • Moody's country ceilings for deposits: it is a highest rating assigned to a bank or other deposit-taker domiciled in this country.

Country Currency Deposit Rate[1] Estimated
Inflation Rate[2]
Maximum
Protected Amount[3]
Country Ceiling for Deposits[4]
 Romania RON 3.17% ↓2.87%100 000 EURA3 (upper medium grade)
 Bulgaria BGN 2.95% ↓1.91%100 000 EURA3 (upper medium grade)
 Poland PLN 2.61% ↓2.00%100 000 EURAa3 (high grade)
 Cyprus EUR 2.56% ↑1.20%100 000 EURCaa2 (extremely speculative)
 Croatia HRK 2.56% ↑2.25%100 000 EURA3 (upper medium grade)
 Greece EUR 2.36% ↓-0.44%100 000 EURB3 (highly speculative)
 Netherlands EUR 1.95% ↓1.74%100 000 EURAaa (prime)
 Hungary HUF 1.77% ↓3.50%100 000 EURBaa2 (lower medium grade)
 Italy EUR 1.74% ↓1.43%100 000 EURA2 (upper medium grade)
 France EUR 1.66% ↑1.46%100 000 EURAaa (prime)
 Slovakia EUR 1.58% ↑2.00%100 000 EURAa2 (high grade)
 Malta EUR 1.57% ↑1.97%100 000 EURA1 (upper medium grade)
 Portugal EUR 1.54% ↓1.03%100 000 EURBaa1 (lower medium grade)
 Belgium EUR 1.44% ↑1.36%100 000 EURAaa (prime)
 Sweden SEK 1.34% ↓2.30%100 000 EURAaa (prime)
 United Kingdom GBP 1.07% ↓2.50%85 000 GBPAaa (prime)
 Finland EUR 1.06% ↓2.51%100 000 EURAaa (prime)
 Slovenia EUR 1.00% ↓1.90%100 000 EURBaa1 (lower medium grade)
 Czech Republic CZK 0.87% ↓1.85%100 000 EURAa2 (high grade)
 Spain EUR 0.86% ↓1.50%100 000 EURA1 (upper medium grade)
 Denmark DKK 0.74% ↑2.00%100 000 EURAaa (prime)
 Germany EUR 0.65% ↓1.70%100 000 EURAaa (prime)
 Austria EUR 0.60% ↓1.90%100 000 EURAaa (prime)
 Estonia EUR 0.36% ↓2.80%100 000 EURAa2 (high grade)
 Luxembourg EUR 0.32% ↓1.90%100 000 EURAaa (prime)
 Latvia EUR 0.32% ↓2.10%100 000 EURA1 (upper medium grade)
 Lithuania LTL 0.30% ↓2.49%100 000 EURA2 (upper medium grade)
Table 1. Deposit rates (June 2014) and bank deposit ratings (July 09, 2014). Source: ECB, IMF, National Central Banks, Moody's.

[1] Deposit rates are agreed annualised deposit rates of new deposit contracts with agreed maturity up to 1 year between credit institutions and households, the data are provided by European Central Bank, June 2014.

[2] Estimated annual percentages of average consumer prices in 2014, the data are provided by International Monetary Fund, World Economic Outlook. Projections for Cyprus are excluded due to the ongoing crisis.

[3]  The data are provided by National Central Banks and Deposit Insurance Organizations.

[4] Moody's country ceilings for deposits (as of July 09, 2014) specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country. Because the deposit rates are given for local-currency contracts,  Moody's country ceilings for local currency are provided.


Deposit Rates in the EU
Chart 1. Deposit Rates (June 2014) in the European Union. Source: ECB.