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Market of banking deposits at year's end

The year's end is bringing new levels for the deposit interest rates. Thus, the interest rates for the leu deposits have reached 15%, whereas those for the euro deposits have amounted to 7.25% Ziarul financiar announces on Wednesday.

Another three banks - Piraeus, Carpatica and Emporiki - have increased the interest rates, after Alpha increased last week the interest rate for the certificates of deposit to new highs on the market, and BCR and BRD have hiked the interest rates to attractive levels.

Piraeus Bank is paying an interest rate of 15% per year for lei and 6.5% for euro in the case of a 100-day deposit. Moreover, the bank has implemented a system of preferential interest rates (by one quarter of percentage point above the standard level) for pensioners and students.

Banca Carpatica, a bank on Romanian private capital, is paying interest rates of 7.25% per year for euro, while Emporiki (a bank held indirectly by the French group Credit Agricole) is trying to draw clients with an offer of deposits in which the interest rate is paid in advance or the interest is progressive.

The stiff competition for clients' money has led to the diversification of the savings products, after the deposits and the certificates of deposit have been the only savings products in the past years. Lately, the bankers have come with aggressive offers in terms of savings accounts for drawing the clients that prefer to keep the funds accessible.

Moreover, the deposits have been diversified and most banks guarantee the level of interest rate until maturity and thus the client knows from the start how much he/she will gain from the respective deposit.

Anyway, the bankers expect the interest rates to continue to go up, at lest for the euro deposits, in the context in which accessing money from abroad is increasingly more difficult.

 

Sursa: http://www.rompress.ro

Tags: interest deposits rates deposit brd euro bcr