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11.10.2023

Italian Deposit Market Overview: October 2023

4 min read

Delve into Italy's financial scenario in October 2023 through our Italian Deposit Market Overview. Get a glimpse of current interest rates, unearth potential savings prospects, and stay up-to-date with essential financial information to make well-informed choices regarding your investments and savings.

Welcome to PickTheBank!

Today, as always, the PickTheBank team diligently monitors interest rates across Europe. Our platform offers you a diverse selection of term deposits available in the market.

In this overview, our focus shifts to interest rates in Italy and their dynamic fluctuations in response to inflation trends.

Based on official data released by the European Central Bank (ECB), Italy has seen a notable rise in its average annual deposit interest rate, which now stands at 3.35%, marking a noteworthy increase from the previous month's 3.29%.
It's important to note that the maximum interest rate in Italy for euro deposits has increased to 5.75%, compared to the 5.50% recorded one month ago.

Within our extensive database, you can access deposit rate information collected from more than 1,000 banks operating across 25 European countries, featuring an extensive array of over 20,000 financial products. As part of our meticulous review process, we conducted a thorough evaluation of the websites of 150 Italian banks offering fixed-term deposit interest rates. This rigorous analysis has resulted in a comprehensive database comprising 1,550 products tailored to the Italian market.

In the tables below, we present the top offer in Italy for this month:

 

🔥Top-5 12-month ordinary EUR deposit rates:

 

Interest rateBankCurrencyTerm 
5.00%BANCO BILBAO VIZCAYA ARGENTARIA S.A. (BBVA)EUR12 mthsMore ->
4.75%BANCA AIDEXA S.P.A.EUR12 mthsMore ->
4.75%TWIST (Banca Valsabbina SCpA)EUR12 mthsMore ->
4.50%BANCA DI CREDITO COOPERATIVO DI CAGLIARI SOCIETA' COOPERATIVAEUR12 mthsMore ->
4.50%BANCA CF+ CREDITO FONDIARIO S.P.A.EUR12 mthsMore ->

 

🔥Top-5 24-month ordinary EUR deposit rates:

 

Interest rateBankCurrencyTerm 
4.75%VIVIBANCA S.P.A.EUR24 mthsMore ->
4.75%TWIST (Banca Valsabbina SCpA)EUR24 mthsMore ->
4.60%BANCA PRIVATA LEASING S.P.A.EUR24 mthsMore ->
4.50%BANCA SISTEMA S.P.A.EUR24 mthsMore ->
4.50%ILLIMITY BANK S.P.A.EUR24 mthsMore ->

 

🔥Top-5 36-month ordinary EUR deposit rates:

 

Interest rateBankCurrencyTerm 
5.75%ILLIMITY BANK S.P.A.EUR36 mthsMore ->
5.00%ILLIMITY BANK S.P.A.EUR36 mthsMore ->
4.85%VIVIBANCA S.P.A.EUR36 mthsMore ->
4.75%TWIST (Banca Valsabbina SCpA)EUR36 mthsMore ->
4.70%GUBER BANCA S.P.A.EUR36 mthsMore ->

 

🔥Top EUR deposit rates - any term:

 

Interest rateBankCurrencyTerm 
5.75%ILLIMITY BANK S.P.A.EUR36 mthsMore ->
5.75%ILLIMITY BANK S.P.A.EUR48 mthsMore ->
5.75%ILLIMITY BANK S.P.A.EUR60 mthsMore ->
5.50%BANCA POPOLARE SANT'ANGELO, SOCIETA' COOPERATIVA PER AZIONIEUR6 mthsMore ->
5.00%BANCA POPOLARE SANT'ANGELO, SOCIETA' COOPERATIVA PER AZIONIEUR12 mthsMore ->

 

Please keep in mind that the interest rates provided do not account for taxes and do not consider variations in interest payment frequencies. We always recommend verifying the latest interest rates and terms directly with the bank before making any final decisions.

Our mission remains the same: to keep you informed about the ever-changing landscape of European deposit rates, empowering you to make well-informed financial decisions. Stay tuned for more updates and insights from PickTheBank.eu.

Top deposits available online

Available online
Protected up to €100k
bankImage

FREEDOM24

Cyprus

4.76%

12mths,

Available online
Protected up to €100k
bankImage

FREEDOM24

Cyprus

3.96%

6mths,

Available online
Protected up to €100k
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FREEDOM24

Cyprus

3.49%

3mths,

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