24.11.2023
Austria's Deposit Market Overview: November 2023
4 min read
Keeping a close eye on the dynamic interest rate movements shaping the European financial landscape, PickTheBank presents its monthly review. Here is a summary of current Austrian term deposit market trends and opportunities.
In November, the PickTheBank team remains dedicated to monitoring the dynamic movements in interest rates that shape the European financial landscape.
This month, we invite you to explore the intriguing realm of interest rates in Austria.
According to the latest data provided by the European Central Bank (ECB), Austria has seen a significant increase in its average annual deposit interest rate, surging to an impressive 3.15% in the past month from the previous rate of 2.94%.
We've uncovered even more alluring opportunities within the market. The highest 1-year EUR deposit interest rate we've identified now stands at a remarkable 4.00%, marking a substantial rise from the 3.50% recorded just one month ago. Meanwhile, the maximum interest rate on long-term euro non-subordinated deposits has climbed to an enticing 4.40%, a notable increase from the 4.02% rate reported in the previous month.
Throughout the preparation of this review, we conducted an in-depth analysis of the websites of 380 Austrian banks providing information on fixed-term deposit interest rates. As a result, our Austria deposit database now boasts a collection of 2,900 distinct financial products.
Our mission is to meticulously track these dynamic fluctuations and present you with the most compelling opportunities in the market.
🔥Top-5 12-month ordinary EUR deposit rates:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 4,00% | Sparkasse Korneuburg AG | EUR | 12 mths | More -> |
| 4,00% | VakifBank International AG | EUR | 12 mths | More -> |
| 4,00% | VOLKSBANK VORARLBERG e. Gen. | EUR | 12 mths | More -> |
| 3,75% | Raiffeisenbank St. Johann-Wagrain-Kleinarl eGen | EUR | 12 mths | More -> |
| 3,75% | WSK Bank AG | EUR | 12 mths | More -> |
🔥Top-5 24-month ordinary EUR deposit rates:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 4,40% | Sparkasse Pottenstein N.Ö. | EUR | 24 mths | More -> |
| 4,00% | Sparkasse Korneuburg AG | EUR | 24 mths | More -> |
| 3,60% | VakifBank International AG | EUR | 24 mths | More -> |
| 3,60% | Santander Consumer Bank GmbH | EUR | 24 mths | More -> |
| 3,60% | Addiko Bank AG | EUR | 24 mths | More -> |
🔥Top-5 36-month ordinary EUR deposit rates:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 3,88% | Raiffeisenbank St. Marien eGen | EUR | 36 mths | More -> |
| 3,75% | VakifBank International AG | EUR | 36 mths | More -> |
| 3,63% | Raiffeisenbank Lungau eGen | EUR | 36 mths | More -> |
| 3,60% | Porsche Bank Aktiengesellschaft | EUR | 36 mths | More -> |
| 3,50% | RCI Banque SA, Niederlassung Österreich | EUR | 36 mths | More -> |
🔥Top EUR deposit rates - any term
The following banks offer the maximum EUR interest rates on ordinary deposits available in Austria:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 4,40% | Sparkasse Pottenstein N.Ö. | EUR | 24 mths | More -> |
| 4,00% | HYPO NOE Landesbank für Niederösterreich und Wien AG | EUR | 18 mths | More -> |
| 4,00% | Sparkasse Korneuburg AG | EUR | 12 mths | More -> |
| 4,00% | VakifBank International AG | EUR | 12 mths | More -> |
| 4,00% | VOLKSBANK VORARLBERG e. Gen. | EUR | 12 mths | More -> |
It's important to note that interest rates are presented prior to taxation and without considering various interest payment frequencies. We strongly recommend verifying the most up-to-date interest rates and terms with the bank before making any definitive decisions.
Worth mentioning is that PickTheBank's extensive database goes beyond Austria, encompassing deposit rate information from over 1,000 banks across 25 European countries. In total, we provide data on more than 20,000 financial products. We invite you to explore our website to gain deeper insights into the European deposit market.
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