Discover highest interest rates in various countries

Maximum deposit interest rate statistics

On this page you can find information about the highest fixed deposit interest rates offered by banks in the European countries.

Our statistical database aggregates information about interest rates in more than 1000 banks. Information is provided for statistical purposes only and should not be considered as financial advice.

PickTheBank does its best to keep this information precise and up to date. Nevertheless some discrepancies and delays in the information update are possible.

Always check conditions with the bank before opening the deposit or other savings products.

Average deposit interest rate statistics

Information on average deposit interest rates in respective countries is also available on the European Central Bank website https://data.ecb.europa.eu/main-figures/bank-interest-rates/deposits

ECB Bank interest rate statistics gather data on the interest rates set by financial institutions for euro deposits and loans to households and non-financial companies in the euro area. These statistics help monitor financial trends and stability.

Collected monthly, they cover all key types of deposits and loans in euros and national currencies for non-euro countries. Breakdowns include maturity, notice periods, and loan purposes.

These stats are produced for the euro area and individual EU countries, averaging rates across 117 categories. They include rates for deposits and loans to households and non-financial companies, for both new and existing loans.

Unfortunately, breakdown by bank and within the country are not included in ECB statistics. As well, ECB statistics are published after the end of the respective month.

Why do interest rates differ in various countries?

Observations show that interest rates depend on the country. Banks in different countries set different interest rates due to variations in liquidity level in the local financial system, demand of particular banks for new funding, and the level of sovereign credit risk affecting the ability of local financial institutions to find new funding on international capital markets.

Why do interest rates change from time to time and from bank to bank?

Interest rates change from time to time due to various factors, including:

Monetary Policy

Central banks, such as the European Central Bank, use interest rates as a tool to manage the economy. They adjust interest rates to control inflation, stimulate economic growth, or curb excessive borrowing.

ECB interest rate increase forces banks to increase their loans and deposits interest rates to remain in line with the economic environment.

Since the ECB interest rate is effectively an overnight rate (the rate used by banks to borrow and place funds in ECB for one night) banks have to forecast ECB rate dynamics to set interest rates on their long-term loans and deposits.

You can check information about Key ECB interest rates here.

Economic Conditions:

Interest rates are influenced by the overall economic environment. Factors such as economic growth, inflation rates, employment levels, and consumer spending impact the supply and demand for credit. In times of economic expansion, interest rates may rise to manage inflationary pressures. Conversely, during economic downturns, central banks may lower interest rates to encourage borrowing and stimulate economic activity.

Market Forces:

Interest rates are also affected by market forces, such as supply and demand dynamics for loans and deposits. Banks compete for funds and adjust their interest rates accordingly. If a bank needs to attract more deposits, it may offer higher interest rates. Similarly, if there is a high demand for loans, banks may raise interest rates to reflect the increased cost of lending.

Risk Factors and bank’s liquidity position:

Different banks may offer varying interest rates due to differences in risk profiles. Banks assess the creditworthiness of borrowers and factor in the associated risks when setting interest rates. The same works in the opposite way: the bank with lower market trust and lower liquidity level will tend to offer higher deposit interest rates to attract additional customers covering the implied risk with interest rate premium.

Business model and market position:

It's important to note that interest rates are influenced by factors specific to each bank's business strategy, market positioning, and liquidity needs (e.g. extensive business growth or outflow of existing clients can lead to liquidity deficit). As a result, interest rates can vary between different banks based on their individual circumstances, and their strategies.