Updated on 2 July 2020
Alpha Bank Romania was established in 1993 by the European Bank of Reconstruction and Development and Alpha Bank Group (Greece) as Banca Bucuresti SA and started its operations in 1994. In 2000 Banca Bucuresti SA was renamed to Alpha Bank Romania. Alpha Bank Romania operates as a universal bank providing a broad range of services and products for individuals, SMEs and companies.
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Savings accounts are interest-bearing deposits accounts which allow to withdraw money at any time. While offering more flexibility, savings accounts usually provide lower interest rates than term deposit accounts.
The table above shows essential details of selected savings accounts products offered to retail customers by the banks in Romania: currency, interest rate per annum and deposit term. The savings accounts terms vary from 1 month to 1 years (12 months). The interest rates are within the range 0.30 - 0.30 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in Romania.
Country Deposit Rating. Romania's Moodys country ceiling (the highest rating that can be assigned) for deposits in local currency is set to A3 (upper medium grade).
Deposit Guarantee. Savings accounts made with credit institutions in Romania are covered by deposit guarantee scheme up to 100,000 EUR per depositor.
Withholding Tax. When the interest is paid, this tax is automatically withhold from the savings account by the bank.