11.10.2017 | Estimated 2 minutes reading time | Print this article

Interest Rate Radar: Italian Term Deposits Continue to Offer the Highest Interest Rates

Highest Retail Deposit Interest Rates in the EU:
Italian interest rates are the highest in the eurozone since July 2017

As in the past three months, interest rates with maturities of 1 year (1.77%) and 3 years (2.19%) were the highest in Italy, even though both decreased by 15 and 22 basis points respectively. Again, banks from Portugal offered the second highest interest rates with maturities of 1 year in the eurozone (1.02%), followed by French banks (0.98%). French banks also offered the second best retail interest rates with maturities of 3 years (1.15%), followed by Austrian banks (1.13%).


Retail Deposit Interest Rates of the 3 largest banks:
Largest interest rate differentials in Germany and the Netherlands

Nothing has changed since August 2016: The largest German (0.03%) and Dutch (0.04%) banks offered the lowest interest rates across Europe in September 2017. At the same time, ratios of the 3 largest banks versus the top-5 term deposit offers in the local markets incremented in Germany and the Netherlands. Therefore, savers that took advantage of the best offers available could earn interest rates that were 26 times higher in Germany and 21 times higher in the Netherlands! On the other hand, major banks from Ireland offered interest rates that amounted to more than half of the average of the top-5 term deposit offers in the local market.


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As of September 29th; Sources:

Austria: biallo; Erste Bank, Raiffeiseinbank Oberösterreich, BAWAG PSK
Belgium: Spaargrids; ING Belgien, KBC, Belfius Bank
Denmark: mybanker; Danske Bank, Nykredit, Nordea
France: FranceTransactions / cbanque; BNP Paribas, Societe Generale, Crédit Mutuel
Germany: biallo; Deutsche Bank, Commerzbank, HypoVereinsbank

Ireland: Bonkers.ie; Bank of Ireland, AIB, Ulster Bank
Italy: Conti Deposito; UniCredit, Monte Dei Paschi Di Siena, Mediobanca
Netherlands: Spaarrente; ING, Rabobank, Abn-Amro
Norway: Norsk Familieøkonomi; DNB, Danske Bank, Nordea
Poland: Oprocentowanie; PKO Bank Polski, Bank Pekao, mBank

Portugal: Pedro Pais; BPI, BCP, Novo Banco
Romania: Conso.ro; BCR, BRD, Banca Transilvania
Spain: bankimia, iahorro, helpmycash; Santander, BBVA, Sabadell
Sweden: Finansportalen; SEB, Nordea, Swenska Handelsbanka
United Kingdom: Moneyfacts; HSBC, Barclays, RBS