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 move in line with the broader economic environment. Growth, inflation, employment levels, and consumer spending affect the balance between credit supply and demand. In times of economic expansion, interest rates may rise to manage inflationary pressures. In a downturn, central banks tend to cut rates to make borrowing easier and to support economic activity.

Market Forces:

Rates are also driven by the market itself balancing between loan demand and deposit supply. Banks compete for funding and adjust their offers to be competitive compared to other banks. A bank looking to attract more deposits may raise its savings rates, while strong demand for loans can push lending rates higher.

Risks and liquidity:

Not all banks face the same conditions. Their rates reflect their own risk profile and financial strength. Institutions seen as riskier or with lower liquidity sources often have to pay more on deposits to attract customers, essentially compensating for the risk with higher returns.

Business model and market position:

Finally, each bank's strategy and position in the market also matter. A bank may set its rates more aggressively if it is growing quickly, has a lot of new customers, or doesn't have enough cash on hand. This is why interest rates might be different at different banks. They are affected by both the bank's own situation and the economy as a whole.