8.2.2024
February 2024 Overview: Deposit Market in Austria
4 min read
In February 2024, the deposit market in Austria continues to attract the attention of investors and banking clients. Reliable and profitable investments have become a crucial factor for those seeking to preserve and increase their capital. In this overview, we will delve into the current state of the deposit market in Austria, focusing on the top offerings from the PickTheBank platform.
PickTheBank provides you with a unique opportunity to explore the European deposit market and invest in various banks across Europe. Understanding the nuances of this market requires a deep comprehension of the European Central Bank's (ECB) policies, which play a pivotal role in shaping economic conditions. For now, ECB has maintained its key interest rates unchanged. Experts speculate that the first rate cut may occur in the spring of 2024.
In this overview, we will delve deeper into the current situation of the deposit market in Austria. A pivotal factor influencing this market is the policy set by the ECB and general trends related to inflation. According to the latest data, Austria is experiencing a decrease in the annual average deposit interest rate, dropping to 3.30% last month from the previous rate of 3.58%. This signals a dynamic shift in deposit rates within the region.
During the preparation of the overview, we conducted an in-depth analysis of the websites of 380 Austrian banks, providing information on interest rates for time deposits. The maximum interest rate for long-term euro deposits has remained stable at 4.40%. Similarly, the highest 1-year EUR deposit interest rate is also consistent and now stands at 4.00%. Our Austrian deposit database now boasts a collection of 2900 distinct financial products.
🔥Top-5 12-month ordinary EUR deposit rates:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 4,00% | Sparkasse Korneuburg AG | EUR | 12 mths | More -> |
| 3,55% | Austrian Anadi Bank AG | EUR | 12 mths | More -> |
| 3,55% | DenizBank AG | EUR | 12 mths | More -> |
| 3,50% | VakifBank International AG | EUR | 12 mths | More -> |
| 3,50% | Raiffeisenbank Eberndorf registrierte Genossenschaft mit beschränkter Haftung | 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 -> |
| 4,00% | HYPO NOE Landesbank für Niederösterreich und Wien AG | EUR | 24 mths | More -> |
| 3,50% | Porsche Bank Aktiengesellschaft | EUR | 24 mths | More -> |
| 3,50% | Raiffeisenbank Niederösterreich-Wien | EUR | 24 mths | More -> |
🔥Top-5 36-month ordinary EUR deposit rates:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 3,60% | Porsche Bank Aktiengesellschaft | EUR | 36 mths | More -> |
| 3,38% | Raiffeisenbank Edt-Lambach eGen | EUR | 36 mths | More -> |
| 3,35% | RCI Banque SA, Niederlassung Österreich | EUR | 36 mths | More -> |
| 3,25% | DenizBank AG | EUR | 36 mths | More -> |
| 3,25% | Raiffeisen Regionalbank Achensee eGen | EUR | 36 mths | More -> |
🔥Top EUR deposit rates - any term
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 4,40% | Sparkasse Pottenstein N.Ö. | EUR | 24 mths | More -> |
| 4,25% | DenizBank AG | EUR | 60 mths | More -> |
| 4,00% | HYPO NOE Landesbank für Niederösterreich und Wien AG | EUR | 24 mths | More -> |
| 4,00% | Sparkasse Korneuburg AG | EUR | 12 mths | More -> |
| 3,75% | Raiffeisenbank Lech am Arlberg eGen | EUR | 3 mths | More -> |
PickTheBank is a unique database providing extensive information on current interest rates from over 1000 banks across 25 European countries. Covering a broad spectrum of financial institutions, this resource enables you to explore the latest offerings and choose the option that best aligns with your financial needs and objectives.
However, it's crucial to remember that before making any decisions, it's important to directly confirm all conditions with the respective bank.
Visit the website pickthebank.eu and explore 25,000 offerings to discover and choose the most suitable investment opportunities for your future.
