15.7.2024
July 2024 Overview: Deposit Market in Italy
3 min read
Italy's deposit market in July 2024 is characterized by stability and competition, underpinned by cautious consumer behavior and stringent regulatory oversight. For a broader perspective on the European deposit market, PickTheBank offers detailed and current information on a wide range of deposit products and interest rates.
Italy is a member of the European System of Central Banks. The Banca d'Italia, in alignment with the European Central Bank (ECB), has maintained consistent monetary policies to support economic steadiness in the country. This approach has led to stable deposit interest rates in Italy, with minor adjustments reflecting broader European monetary trends and the country's own inflation metrics.
In July 2024, Italian banks offer an array of deposit products to suit different savings preferences and financial goals. These products include savings accounts, fixed-term deposits, and notice accounts. The interest rates for these products depend on the duration of the deposit and the amount, with longer-term deposits generally offering higher returns.
During this review, we meticulously analyzed the websites of 420 Italian banks, in summary, PickTheBank compiled data on 1,760 unique financial products available for fixed-term deposits. In the table below, we present the most attractive current interest rates offered by Italian banks:
Top EUR deposit rates
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 6.00% | BANCA DI CREDITO COOPERATIVO DI OSTRA E MORRO D'ALBA | EUR | 84 mths | More -> |
| 5.00% | BANCA AIDEXA S.P.A. | EUR | 36 mths | More -> |
| 5.00% | BANCA SISTEMA S.P.A. | EUR | 120 mths | More -> |
| 4.50% | BANCA POPOLARE SANT'ANGELO | EUR | 6 mths | More -> |
| 4.40% | ILLIMITY BANK S.P.A. | EUR | 36 mths | More -> |
| 4.30% | TWIST (Banca Valsabbina SCpA) | EUR | 24 mths | More -> |
| 4.25% | BANCA PROFILO SPA TInaba | EUR | 9 mths | More -> |
Top 5 1-year EUR deposit rates
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 4.25% | TWIST (Banca Valsabbina SCpA) | EUR | 12 mths | More -> |
| 4.25% | BANCA POPOLARE SANT'ANGELO | EUR | 12 mths | More -> |
| 4.25% | BANCA PROFILO SPA TInaba | EUR | 12 mths | More -> |
| 4.25% | BANCA PROGETTO S.P.A. | EUR | 12 mths | More -> |
| 4.10% | TWIST (Banca Valsabbina SCpA) | EUR | 12 mths | More -> |
PickTheBank’s coverage extends beyond Italy, encompassing data from over 5,000 banks across 25 European countries and more than 30,000 financial products. Deposit insurance schemes protect deposits up to €100,000, adhering to EU directives. It is important to highlight that the provided interest rates are pre-tax and do not account for variations in interest payment frequencies. For precise decision-making, we strongly advise verifying the latest interest rates and terms directly with the respective banks.
If you're seeking comprehensive insights into the European deposit market, PickTheBank is a helpful tool. Users can track interest rate trends, compare different financial products, and keep up with market changes.
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