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!
