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Economy and Banking Sector of Austria

Austria
Location
Central Europe
Population  (2017)
8 772 865  (+0.01%)
EU Status
member since 1995
Currency
EUR (Euro)
Nominal GDP (2016)
349.5 bln EUR  (+0.04%)
Credit Ratings (as of Sep 2016)
AA+/Aa1
Consolidated Banking Assets (2016)
946.25 bln EUR  (-10.45%)
Deposit Guarantee
100 000 EUR
Number of Banks
581

Austria is a prosperous, democratic country located in Central Europe with well-developed market economy, skilled labor force, and high standard of living.

The Austrian economy has well-balanced sectoral structure. The largest share of gross value added (GVA) is generated by private sector services: quarrying, manufacturing, electricity and water supply, trade, transportation, hotels and restaurants.

The Austrian banks generate their profit largely from traditional interest income rather than from more risky trading income. The major Austrian banks have extensive operations in Central, Eastern, and Southeastern Europe. Private banking in Austria enjoys a long and successful history.

List of Banks in Austria

National Currency

Euro (EUR)

Austria joined the Euro Area on 1 January 1999.

GDP

Nominal GDP (2016)Nominal GDP per Capita (2016)Real GDP Growth (2016)
349.5 bln EUR  (+0.04%)40 000 EUR  (+0.02%)1.5 %  (2015: 0.9 %)

According to Eurostat, nominal GDP of Austria in 2016 was 349.5 bln EUR.

Austria underperforms the European Union in terms of real GDP growth with the average annual differential coming to -0.3% over the past 10 years (2006 - 2016). In 2016 real GDP growth was 1.5% which was below the Euro Area average (1.8%) and below the European Union average (1.9%). Real GDP growth in 2017 - 2022 are IMF's estimates.

Real GDP Growth in Austria.

Chart 1. Real GDP Growth in Austria. Source: Eurostat, International Monetary Fund.

In 2016, nominal GDP per capita in Austria was 40 000 EUR.

Austria has an above-average level of wealth in terms of per-capita GDP at purchasing power parity (PPP); this economic welfare indicator has, on average, exceeded that of the European Union by 19.9% over the past 10 years (2006 - 2016). GDP per capita at PPP in 2017 - 2022 are IMF's estimates.

GDP Per Capita at Purchasing Power Parity in  Austria; European Union = 100.

Chart 2. GDP Per Capita at Purchasing Power Parity in Austria; European Union = 100.

Inflation Rate

CPI, MoM (Sep 2017)CPI, YoY (Sep 2017)CPI, Year Average (2016)
1.4 %  (Aug 2017: 0.0 %)2.6 %  (Aug 2017: 2.1 %)1.0 %  (2015: 0.8 %)

According to Eurostat, inflation rate in Austria in 2016 expressed as annual percentages of average consumer prices was 1.0% which was above the Euro Area average (0.2%) and above the European Union average (0.3%). Inflation rates in 2017 - 2022 are IMF's estimates.

Inflation Rate in Austria.

Chart 3. Inflation Rate in Austria. Source: Eurostat, International Monetary Fund.

Unemployment Rate

Unemployment Rate (2016)
6.0 %  (2015: 5.7 %)

Government Bond Yield

Government Bond Yield (Sep 2017)
0.59 %  (Aug 2017: 0.61 %)
According to Eurostat, government bond yield in Austria in Sep 2017 was 0.59%, compared to 0.61% in Aug 2017.
Government bond yield of Austria.

Chart 4. Government bond yield of Austria. Source: Eurostat.

Credit Ratings (as of Sep 2016)

Fitch Moody's
AA+ (very high credit quality), outlook stable Aa1 (high grade), outlook stable

Withholding Tax

Withholding taxes are imposed at source of income and are often applied to dividends, interest, royalties, rent and similar payments. The rates of withholding tax are often reduced by double taxation agreements.

Withholding Tax Rates in Austria: 0.0 - 25.0%

Withholding tax rates applied on payments of interest and dividends in Austria are shown in Table 1.

Dividends Interest
Natural person, resident 25.0 %25.0 %
Natural person, non-resident 25.0 %0.0 %
Table 1. Withholding tax rates in Austria.

Double Taxation Agreements

Double Taxation Agreement (DTA) is an agreement between two or more countries for the avoidance of double taxation.

DTAs of Austria: 87 Signed Agreements

Austria signed DTAs which already came info force with the following jurisdictions (for agreements which came into force after 1 January 2013 the date of coming into force is given in brackets):

 Albania
 Algeria
 Armenia
 Australia
 Azerbaijan
 Bahrain
 Barbados
 Belarus
 Belgium
 Belize
 Bosnia and Herzegovina
 Brazil
 Bulgaria
 Canada
 China
 Croatia
 Cuba
 Cyprus
 Czech Republic
 Denmark
 Egypt
 Estonia
 Finland
 France
 Georgia
 Germany
 Greece
 Hong Kong
 Hungary
 India
 Indonesia
 Iran, Islamic Republic of
 Ireland
 Israel
 Italy
 Japan
 Kazakhstan
 Korea, Republic of
 Kuwait
 Kyrgyzstan
 Latvia
 Liechtenstein
 Lithuania
 Luxembourg
 Macedonia
 Malaysia
 Malta
 Mexico
 Moldova, Republic of
 Mongolia
 Morocco
 Nepal
 Netherlands
 New Zealand
 Norway
 Pakistan
 Philippines
 Poland
 Portugal
 Qatar
 Romania
 Russian Federation
 San Marino
 Saudi Arabia
 Serbia
 Singapore
 Slovakia
 Slovenia
 South Africa
 Spain
 Sweden
 Switzerland
 Tajikistan
 Thailand
 Tunisia
 Turkey
 Turkmenistan
 Ukraine
 United Arab Emirates
 United Kingdom
 United States
 Uzbekistan
 Venezuela
 Vietnam

There are also several agreements between Austria and other jurisdictions which were signed but haven't yet come into force (for agreements signed after after 1 January 2013 of signing the agreement is given in brackets):

 Chile
 Libya
 Syrian Arab Republic

Information Exchange

There are 3 ways for jusrisdictions to exchange information on tax matters:

  • spontaneously;
  • on request;
  • automatically.

Spontaneous exchange of information is provision of information that is forseeably relevant to another party without a request being previously sent.

Tax Information Exchange Agreements (TIEAs) enable exchange of information on request relating to a specific tax investigation, either criminal or civil.

Automatic information exchange allows jurisdictions to exchange information automatically, without having a specific tax investigation.

Exchange on Request: 6 Signed Agreements

Austria signed TIEAs which already came info force with the following jurisdictions (for agreements which came into force after 1 January 2013 the date of coming into force is given in brackets):

 Andorra
 Gibraltar
 Jersey (Jun 2013)
 Monaco
 Saint Vincent and The Grenadines

There are also several agreements between Austria and other jurisdictions which was signed but haven't yet come into force (for agreements signed after 1 January 2013 of signing the agreement is given in brackets):

 Guernsey (May 2014)

Automatic Exchange: Starts in September 2018

Austria signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2018.

Automatic Excnange: 50 Bilateral Agreements to Receive Information

Austria has signed bilateral agreements with 50 jurisdictions to automatically receive information:

 Andorra
 Argentina
 Australia
 Belgium
 Bonaire, Saint Eustatius and Saba
 Bulgaria
 Canada
 Colombia
 Croatia
 Cyprus
 Czech Republic
 Denmark
 Estonia
 Faroe Islands
 Finland
 France
 Germany
 Gibraltar
 Greece
 Guernsey
 Hungary
 Iceland
 India
 Ireland
 Isle of Man
 Italy
 Japan
 Jersey
 Korea, Republic of
 Latvia
 Liechtenstein
 Lithuania
 Luxembourg
 Malta
 Mauritius
 Mexico
 Monaco
 Netherlands
 New Zealand
 Norway
 Poland
 Portugal
 Romania
 San Marino
 Slovakia
 Slovenia
 Spain
 Sweden
 Switzerland
 United Kingdom

Automatic Excnange: 55 Bilateral Agreements to Send Information

Austria has signed bilateral agreements with 55 jurisdictions to automatically send information:

 Andorra
 Argentina
 Australia
 Belgium
 Bermuda
 Bonaire, Saint Eustatius and Saba
 British Virgin Islands
 Bulgaria
 Canada
 Cayman Islands
 Colombia
 Croatia
 Cyprus
 Czech Republic
 Denmark
 Estonia
 Faroe Islands
 Finland
 France
 Germany
 Gibraltar
 Greece
 Guernsey
 Hungary
 Iceland
 India
 Ireland
 Isle of Man
 Italy
 Japan
 Jersey
 Korea, Republic of
 Latvia
 Liechtenstein
 Lithuania
 Luxembourg
 Malta
 Mauritius
 Mexico
 Monaco
 Montserrat
 Netherlands
 New Zealand
 Norway
 Poland
 Portugal
 Romania
 San Marino
 Slovakia
 Slovenia
 Spain
 Sweden
 Switzerland
 Turks and Caicos Islands
 United Kingdom

Further Information

FATCA

Foreign Account Tax Compliance Act (FATCA) which became law in the United States in March 2010, focuses on reporting made by foreign financial institutions about financial accounts held by US taxpayers or foreign entities in which US taxpayers hold a substantial ownership interest. The FATCA-reporting is facilitated by Intergovernmental Agreements (IGAs).

FATCA Status in Austria
IGA in effect since 29 April 2014, Model 2

Austria has FATCA agreement with the U.S. in effect since 29 April 2014 (Intergovernmental Agreement Model 2).

Further Information

Financial Market Development

Financial Market Development
4.6 (max 7.0), 30th out of 138 countries
Banks' Soundness
5.2 (max 7.0), 57th out of 138 countries

According to World Economic Forum's Global Competitiveness Report 2017-2018, financial market development in Austria is scored 4.6 out of maximum 7.0 and ranked 30th out of 138 analysed economies, trustworthiness and confidence of financial market is scored 4.6 (48th place).

Financial Market Development in Austria.

Chart 5. Financial Market Development in Austria. Source: WEF.


Soundness of banks is scored 5.2 bringing Austria into the 57th place.

Soundness of Banks in Austria.

Chart 6. Soundness of Banks in Austria. Source: WEF.

Further Information

Deposit Guarantee Scheme

Maximum Protected Amount
100 000 EUR

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

From a depositor's point of view it is important to know:

  • if the depositor is eligible within the terms of the deposit guarantee scheme;
  • if the depositor's bank is a participant in the deposit guarantee scheme;
  • if the depositor's type of deposit is covered by the deposit guarantee scheme.

All these details about deposit guarantee scheme in Austria are summarised in Table 2.

Scheme Participantsall credit institutions operating in Austria (including branches of foreign banks), branches of Austrian banks abroad
Eligible Depositorsnatural persons, legal entities
Covered Accountsall balances on interest-bearing and non-interest bearing accounts
Covered CurrenciesEEA currencies
Maximum Protected Amount100 000 EUR
Paid In CurrencyEUR

Table 2. Deposit guarantee scheme in Austria.

EEA stands for European Economic Area and consists of all EU member states plus Liechtenstein, Norway and Iceland.

EEA currencies are all official currencies of EEA members. Switzerland is not a EEA member, but because CHF is the official currency of Liechtenstein, CHF also belongs to EEA currencies.

So, only the deposits made with Austrian banks in the following currencies are covered by the deposit guarantee scheme of Austria

 EUREuro
 BGNBulgarian lev
 CZKCzech koruna
 DKKDanish krone
 HUFHungarian forint
 ISKIcelandic króna
 CHFSwiss franc
 NOKNorwegian krone
 PLNPolish złoty
 RONRomanian new leu
 SEKSwedish krona/kronor
 GBPPound sterling

It should be also noted that deposits in non-EEA currencies (for example, USD and JPY) are not covered by the Austrian deposit guarantee scheme.

Further Information

Country Ceiling for Deposits

Moody's country ceilings for deposits 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.

Local Currency (Euro) Foreign Currency
Aaa (prime) Aaa (prime)

Local currency (Euro) deposit ceiling for Austria is set to Aaa (prime), foreign currency deposit ceiling is Aaa (prime).

Deposit Rates

Average Deposit Rate (Aug 2017, EUR)
0.25 % (unchanged)
In Aug 2017, an agreed annualised deposit rate in local currency (Euro) of new contracts with agreed maturity up to 1 year between credit institutions and households was 0.25% which was below the Euro Area average (0.36%).
Deposit Rates in Austria.

Chart 7. Deposit Rates in Austria. Source: ECB.

Further Information

Banking Sector Structure

Number of Banks
581
Consolidated Assets (2016)
946.25 bln EUR  (-10.45%)
Recent Changes (2016)
new banks: 1, closed banks: 66

Currently there are 581 credit institutions operating in Austria.

In 2016 consolidated banking assets in Austria were 946.25 bln EUR. The consolidated banking assets' evolution is shown at Chart 8 below.

Consolidated banking assets in Austria.

Chart 8. Consolidated banking assets in Austria.

Recent structural changes (2013 - 2016) of the banking sector of Austria are summarised in Table 3.

2013201420152016
Number of Opened Banks1111
Number of Closed Banks13242966

Table 3. Recent structural changes in the banking sector of Austria.

The list of the most recently opened banks in Austria is provided in Table 4.

NameStart Date
 Bank of China (Hungary) Close Ltd. Vienna Branch (new)January 2016
 Mizuho Bank Europe N.V. Vienna Branch (new)July 2015
 FIL Fondsbank GmbH Zweigniederlassung Wien (new)October 2014
 Addiko Bank AG (new)June 2013
 

Table 4. The most recently opened banks in Austria.

All the credit institutions operating in Austria can be classified into several categories. Table 5 summarises the number of banks in each category.

CategoryNumber of Banks
Building and loan associations4
Central banks1
Institutions defined under § 9 BWG27
Joint stock banks and private banks39
Raiffeisen credit cooperatives419
Savings banks49
Special purpose banks21
State mortgage banks8
Volksbank credit cooperatives13

Table 5. Number of banks by category in Austria.

There are 27 branches of foreign banks from 8 different countries in Austria. Table 6 shows the number of branches grouped by the country of origin.

Country of OriginNumber of Branches
 Germany14
 France4
 United Kingdom3
 Netherlands2
 Liechtenstein1
 Hungary1
 Ireland1
 Luxembourg1

Table 6. Number of branches of foreign banks in Austria grouped by country of origin.

Major Banks of Austria

RankNameTotal AssetsMarket Share
1 UniCredit Bank Austria AG123593.92 mln EUR15.20 %
2 Erste Group Bank AG60351.65 mln EUR7.42 %
3 Raiffeisen Bank International AG52533.77 mln EUR6.46 %
4 BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse AG33910.71 mln EUR4.17 %
5 Raiffeisenlandesbank Oberösterreich AG30267.01 mln EUR3.72 %
6 RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG26584.21 mln EUR3.27 %
7 Erste Bank der oesterreichischen Sparkassen AG22757.81 mln EUR2.80 %
 

UniCredit Bank Austria AG

Bank Austria was created in 1855 by a merger of Austria's leading traditional banks. Since November 2005, Bank Austria has been a member of UniCredit Group. This combination has created a new, truly European bank with Bank Austria playing a key role in the growth markets of Central and Eastern Europe. UniCredit Bank Austria is a universal bank providing products and services in retail, corporate and investment banking as well as private banking and financial advising.

Services
Retail Banking
Corporate Banking
Private Banking
Investment Banking
Financial Advising

Retail Banking Products

UniCredit Bank Austria AG is the 1st largest bank in Austria in terms of total assets. In 2015 its total assets were 123,59 bln EUR, providing the bank with the market share of 15.20%. UniCredit Bank Austria AG is the 1st largest joint stock bank and private bank in Austria (out of 40 banks) having market share of 51.75% amongst the banks of this category.

UniCredit Bank Austria AG is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is BBB+ (good credit quality). Long-term credit rating assigned to the bank by Moody's is Baa2 (lower medium grade). UniCredit Bank Austria AG participates in deposit guarantee scheme of Austria. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Erste Group Bank AG

Founded in 1819, Erste Group Bank AG was the first Austrian savings bank. Erste Group is one of the largest financial services providers in Central and Eastern Europe. Erste Group Bank is a universal bank, offering a full range of retail, private, corporate and investment banking products and services to individuals, families, companies and financial institutions.

Erste Group Bank AG is the 2nd largest bank in Austria in terms of total assets. In 2015 its total assets were 60 351,65 mln EUR, providing the bank with the market share of 7.42%. Erste Group Bank AG is the 1st largest savings bank in Austria (out of 48 banks) having market share of 41.33% amongst the banks of this category. In 2015 the bank's net income was 214,90 mln EUR.

Erste Group Bank AG is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is BBB+ (good credit quality). Long-term credit rating assigned to the bank by Moody's is Baa2 (lower medium grade). Erste Group Bank AG participates in deposit guarantee scheme of Austria. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Raiffeisen Bank International AG

Raiffeisen Bank International (RBI) specializes in providing retail and corporate banking products and services to natural persons and legal entities in Central and Eastern Europe (CEE). In March 2017, RBI was merged with Raiffeisen Zentralbank Österreich AG (RZB), taking over all rights, obligations and duties of RZB and thus becoming the head entity of Raiffeisen Banking Group (Austria).

Raiffeisen Bank International AG is the 3rd largest bank in Austria in terms of total assets. In 2015 its total assets were 52 533,77 mln EUR, providing the bank with the market share of 6.46%. Raiffeisen Bank International AG is the 1st largest raiffeisen credit cooperatives in Austria (out of 485 banks) having market share of 20.89% amongst the banks of this category. In 2015 the bank's net income was -611,41 mln EUR.

Raiffeisen Bank International AG is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is WD (withdrawn). Long-term credit rating assigned to the bank by Moody's is Baa2 (lower medium grade). Raiffeisen Bank International AG participates in deposit guarantee scheme of Austria. This scheme covers accounts up to 100 000 EUR per bank per depositor.

BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft

BAWAG P.S.K. is one of Austria's largest banks with more than 1.6 million retail and corporate customers and a nationwide well-known brand. The business strategy of BAWAG P.S.K is focused on low risk and high efficiency. More than 70% of the bank's loans and receivables are owed to customers in Austria, while the rest accounted for by western industrialized countries such as Germany, France, the United Kingdom and the United States.BAWAG P.S.K. has made a proactive decision to withdraw from Central and Eastern Europe.BAWAG P.S.K. business segments are retail and SME banking, corporate lending and investments, and treasury services and global markets.

Services
Retail Banking
SME Banking
Corporate Banking

Retail Banking Products

BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft is the 4th largest bank in Austria in terms of total assets. In 2015 its total assets were 33 910,71 mln EUR, providing the bank with the market share of 4.17%. BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft is the 2nd largest joint stock bank and private bank in Austria (out of 40 banks) having market share of 14.20% amongst the banks of this category. In 2015 the bank's net income was 527,00 mln EUR.

BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is A3 (upper medium grade). BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft participates in deposit guarantee scheme of Austria. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Raiffeisenlandesbank Oberösterreich Aktiengesellschaft

Raiffeisenlandesbank Oberösterreich Aktiengesellschaft is a regional bank of Raiffeisen Banking Group (Austria) whose principal owners are local Raiffeisen Banks operating in the corresponding province. Raiffeisenlandesbank Oberösterreich Aktiengesellschaft is a universal bank offering a broad range of retail and corporate banking products and services to local residents. Raiffeisenlandesbank Oberösterreich Aktiengesellschaft is also a regional center for the local Raiffeisen Banks responsible for IT infrastructure, marketing and advertising.

Services
Retail Banking
Private Banking
Corporate Banking

Retail Banking Products

Raiffeisenlandesbank Oberösterreich Aktiengesellschaft is the 5th largest bank in Austria in terms of total assets. In 2015 its total assets were 30 267,01 mln EUR, providing the bank with the market share of 3.72%. Raiffeisenlandesbank Oberösterreich Aktiengesellschaft is the 2nd largest raiffeisen credit cooperatives in Austria (out of 485 banks) having market share of 12.04% amongst the banks of this category. In 2015 the bank's net income was 37,16 mln EUR.

Raiffeisenlandesbank Oberösterreich Aktiengesellschaft is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is Baa2 (lower medium grade). Raiffeisenlandesbank Oberösterreich Aktiengesellschaft participates in deposit guarantee scheme of Austria. This scheme covers accounts up to 100 000 EUR per bank per depositor.

RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG

RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG is a regional bank of Raiffeisen Banking Group (Austria) whose principal owners are local Raiffeisen Banks operating in the corresponding province. RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG is a universal bank offering a broad range of retail and corporate banking products and services to local residents. RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG is also a regional center for the local Raiffeisen Banks responsible for IT infrastructure, marketing and advertising.

RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG is the 6th largest bank in Austria in terms of total assets. In 2015 its total assets were 26 584,21 mln EUR, providing the bank with the market share of 3.27%. RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG is the 3rd largest raiffeisen credit cooperatives in Austria (out of 485 banks) having market share of 10.57% amongst the banks of this category. In 2015 the bank's net income was 50,15 mln EUR.

RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is Baa2 (lower medium grade). RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG participates in deposit guarantee scheme of Austria. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Erste Bank der oesterreichischen Sparkassen AG

Erste Bank der oesterreichischen Sparkassen AG (Erste Bank Oesterreich), together with the Sparkassen, forms one of the largest banking groups in Austria. Traditionally for savings banks, Erste Bank's core business areas are deposits and lending provided to private customers, business customers and the public authorities.

Services
Retail Banking
Corporate Banking

Erste Bank der oesterreichischen Sparkassen AG is the 7th largest bank in Austria in terms of total assets. In 2015 its total assets were 22 757,81 mln EUR, providing the bank with the market share of 2.80%. Erste Bank der oesterreichischen Sparkassen AG is the 2nd largest savings bank in Austria (out of 48 banks) having market share of 15.59% amongst the banks of this category. In 2015 the bank's net income was 330,09 mln EUR.

Erste Bank der oesterreichischen Sparkassen AG participates in deposit guarantee scheme of Austria. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Current Accounts: 10 Offers from 6 Banks

Interest Rates: 0.00 - 0.13 % p.a.
Overdraft Rates: 6.90 - 12.75 % p.a.
Annual Costs: 0.00 - 118.80 EUR

10 current accounts offers from 6 banks operating in Austria are currently available. The interest rates (per annum) are within the range 0.00 - 0.13 %,the overdraft rates (per annum) - 6.90 - 12.75 %, the annual costs - 0.00 - 118.80 EUR.

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Lowest Annual Costs Offer: WSK Girokonto (WSK Bank AG)
Interest Rate: 0.00 % p.a.
Overdraft Rate: 8.75 % p.a.
Annual Costs: 0.00 EUR

Founded in 1871, WSK Bank has about 150-year traditions in retail banking. WSK Bank AG offers a broad range of financial services primarily to private customers.

Savings Accounts: 65 Offers from 13 Banks

Interest Rates: 0.02 - 0.42 % p.a.
Account Terms: 1 - 12 months

65 savings accounts offers from 13 banks operating in Austria are currently available. The savings accounts terms vary from 1 month to 1 years (12 months). The interest rates are within the range 0.02 - 0.42 %.

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Highest Interest Rate Offer: Tagesgeld/Flexgeld24 (Austrian Anadi Bank AG)
Interest Rate: 0.42 % p.a.
Account Term: 1 months

The roots of Austrian Anadi Bank trace back to 1896. The bank's core businesses have always been financing of public institutions or housing and mortgage bonds. In addition, the Austrian Anadi Bank offers a wide range of universal banking services for private and corporate customers.

Since 2013 Austrian Anadi Bank is owned by the British-Indian businessman Dr. Sanjeev Kanoria.In 2015, the bank had approximately 10% of total market share in the region of Carinthia (Kärntner).

Time Deposit Accounts: 72 Offers from 13 Banks

Interest Rates: 0.10 - 1.60 % p.a.
Deposit Terms: 3 - 120 months

72 time deposit accounts offers from 13 banks operating in Austria are currently available. The time deposit accounts terms vary from 3 month to 10 years (120 months).The interest rates are within the range 0.10 - 1.60 %.

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Highest Interest Rate Offer: Online Sparen Festgeldkonto (DenizBank AG)
Interest Rate: 1.60 % p.a.
Deposit Term: 120 months

DenizBank AG was founded in Austria in 1996 as a universal bank: the bank offers a range of products and services in retail and corporate banking. DenizBank AS (Turkey) is the parent company of DenizBank AG (Austria). Since 28 September 2012, DenizBank operates under the umbrella of Sberbank (Russia).

Credit Cards: 10 Offers from 2 Banks

Annual Costs: 64.00 - 218.00 EUR

10 credit cards offers from 2 banks operating in Austria are currently available. The annual costs of the credit cards are within the range of 64.00 - 218.00 EUR.

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Lowest Annual Costs Offer: PayLife Gold (SIX Payment Services (Austria) GmbH)
Annual Costs: 64.00 EUR

SIX Payment Services (Austria) GmbH provides solutions for domestic and international card transactions and interbank payments.The company was founded in 1980, and was formerly known as PayLife Bank GmbH. From September 23, 2015 the company has changed its name to SIX Payment Services (Austria) GmbH and now operates as a subsidiary of SIX Group AG.

Consumer Loans: 44 Offers from 4 Banks

Borrowing Rates: 3.07 - 12.95 %
Loan Terms: 12 - 120 months

44 consumer loans offers from 4 banks operating in Austria are currently available. The consumer loans terms vary from 12 month to 10 years (120 months).The effective borrowing rates are within the range 3.07 - 12.95 %.

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Lowest Borrowing Rate Offer: JetztSofort Kredit (Santander Consumer Bank GmbH)
Borrowing Rate: 3.07 %
Loan Term: 24 months

Santander Consumer Bank, a member of Santander Group (Spain), has more than 290,000 customers as a provider of financial services in retail banking. The head bank of the group, Banco Santander, based in Madrid is mainly active in retail banking and in addition in global wholesale banking, cards, asset management and insurance business.

Car Loans: 42 Offers from 4 Banks

Borrowing Rates: 3.07 - 12.95 %
Loan Terms: 12 - 120 months

42 car loans offers from 4 banks operating in Austria are currently available. The car loans terms vary from 12 month to 10 years (120 months).The effective borrowing rates are within the range 3.07 - 12.95 %.

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Lowest Borrowing Rate Offer: JetztSofort Kredit (Santander Consumer Bank GmbH)
Borrowing Rate: 3.07 %
Loan Term: 24 months

Santander Consumer Bank, a member of Santander Group (Spain), has more than 290,000 customers as a provider of financial services in retail banking. The head bank of the group, Banco Santander, based in Madrid is mainly active in retail banking and in addition in global wholesale banking, cards, asset management and insurance business.

Trading Accounts: 5 Offers from 5 Banks

Annual Costs: 0.00 - 60.00 EUR
Costs per Order: 5.90 - 22.92 EUR

5 trading accounts offers from 5 banks operating in Austria are currently available. The trading accounts annual costs vary from 0.00 to 60.00 EUR, costs per order are within the range 5.90 - 22.92 EUR.

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Lowest Annual Costs Offer: Depot (FinTech Group Bank AG)
Annual Costs: 0.00 EUR
Costs per Order: 5.90 EUR

FinTech Group Bank (formerly biw Bank) is a German bank providing corporate and insitutional customers a range of corporate and investment banking products and services including online brokerage, securities, loan processing, payment services, capital markets transactions, mergers and acquisitions, collateral loans and public-sector loans.