Updated on 5 December 2020
Founded in 1993, First Investment Bank (FI Bank) is the biggest bank with Bulgarian capital. First Investment Bank is an innovative credit institution offering a diverse range of products and services to both individual and corporate clients.
Bulgarian-American Credit Bank was founded in 1996 by the Bulgarian American Enterprise Fund (BAEF). BAEF's primary goal is to support the entrepreneurship in former communist countries from Central and Eastern Europe. Bulgarian-American Credit Bank provides products and services in retail and corporate banking.
Austria: This product is offered to Austrian residents only. When clicking on the product link you will be redirected to the product page in German.
Spain: This product is offered to Spanish residents only. When clicking on the product link you will be redirected to the product page in Spanish.
Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).
The table above shows essential details of selected time deposit products offered to retail customers by the banks in Bulgaria: currency, interest rate per annum and deposit term. The time deposit accounts terms vary from 12 month to 2 years (24 months). The interest rates are within the range 0.05 - 1.20 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in Bulgaria.
Average Deposit Rates. In March 2020, average annual deposit interest rate in local currency (Bulgarian lev) of new contracts with fixed term up to 1 year between credit institutions and retail customers (households) was 0.10 %.
Country Deposit Rating. Bulgaria'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. Time deposit accounts made with credit institutions in Bulgaria 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 time deposit account by the bank.