16.10.2023

Latvian Deposit Market Overview: October 2023

5 min read

This article delves into the fixed-term deposit interest rates in Latvia, highlighting the dynamism in both short-term and long-term deposits. We have compiled the best offers from Latvian banks to date.

Here at PickTheBank, we remain committed to keeping a vigilant eye on the constantly evolving financial landscape in UEA. Whether it's tracking interest rates, exploring investment opportunities, or comparing financial products, we've got you covered.

Are you curious about the trends in interest rates across Europe?

Over the past year, as inflation surged, bank interest rates followed suit, and today we're here to provide you with insights into interest rates in Latvia.

In preparing this report, we diligently reviewed the online platforms of 10 Latvian banks offering fixed-term deposit interest rates. We've curated a selection of 285 deposit options in Latvia for you to consider.

Drawing upon the official statistics furnished by the European Central Bank (ECB), it's evident that the average interest rate on annual deposits in Latvia has notably surged in the past month (from 3.49 up to 3.89). Even more noteworthy is the uptick in the maximum EUR deposit interest rate for a 1-year term, the figures show an increase from the previous month's 4.00% to a current 4.30%.

Below, you'll find the most alluring choices we've discovered in Latvia:

🔥Top 5 12-Month EUR Deposit Rates

Interest rate	Bank	Currency	Term
4.30%	Bigbank	EUR	12 mths	More ->
4.25%	Signet Bank AS	EUR	12 mths	More ->
4.25%	Rietumu Banka	EUR	12 mths	More ->
4.15%	Bigbank	EUR	12 mths	More ->
4.10%	Bigbank	EUR	12 mths	More ->

🔥Top 5 24-Month EUR Deposit Rates

Interest rate	Bank	Currency	Term
4.25%	Rietumu Banka	EUR	24 mths	More ->
4.05%	Rietumu Banka	EUR	24 mths	More ->
4.05%	AS "Industra Bank"	EUR	24 mths	More ->
4.05%	Rietumu Banka	EUR	24 mths	More ->
3.95%	Bigbank	EUR	24 mths	More ->

🔥Top 5 36-Month EUR Deposit Rates

Interest rate	Bank	Currency	Term
4.35%	Rietumu Banka	EUR	36 mths	More ->
4.10%	Rietumu Banka	EUR	36 mths	More ->
4.10%	AS "Industra Bank"	EUR	36 mths	More ->
3.95%	Bigbank	EUR	36 mths	More ->
3.90%	Bigbank	EUR	36 mths	More ->

🔥Leading EUR Deposit Rates – Any Term

Interest rate	Bank	Currency	Term
4.35%	Rietumu Banka	EUR	36 mths	More ->
4.30%	Bigbank	EUR	23 mths	More ->
4.25%	Signet Bank AS	EUR	12 mths	More ->
4.25%	Rietumu Banka	EUR	24 mths	More ->
4.25%	Rietumu Banka	EUR	12 mths	More ->

🔥Top Subordinated Deposits

Interest rate	Bank	Currency	Term
5.00%	BluOr Bank AS	EUR	60 mths	More ->
6.00%	BluOr Bank AS	EUR	84 mths	More ->

🔥Top USD Deposit Rates – Any Term

Interest rate	Bank	Currency	Term
4.00%	Signet Bank AS	USD	36 mths	More ->
3.95%	Signet Bank AS	USD	24 mths	More ->
3.75%	Signet Bank AS	USD	12 mths	More ->
3.25%	Signet Bank AS	USD	9 mths	More ->
3.00%	Signet Bank AS	USD	6 mths	More ->

🔥Top GBP Deposit Rates – Any Term

Interest rate	Bank	Currency	Term
3.25%	Signet Bank AS	GBP	36 mths	More ->
3.00%	Signet Bank AS	GBP	24 mths	More ->
2.75%	Signet Bank AS	GBP	12 mths	More ->
2.50%	Signet Bank AS	GBP	9 mths	More ->
2.00%	Signet Bank AS	GBP	6 mths	More ->

Please keep in mind that the interest rates presented are pre-tax and do not account for variations in interest payment frequencies. We always recommend verifying the latest interest rates and terms directly with the bank before making any final decisions.

Are you ready to delve into the intricacies? Then pay a visit to our website PickTheBank.eu to explore the intricacies of the ever-evolving deposit market, both in Latvia and across Europe. We present an extensive selection of over 20,000 fixed-term deposits gathered from over 1,000 banks across 25 European countries for your consideration. Embark on your financial journey from here!