Surprise – interest rates on timid deposits went up. Three banks have changed their interest rates on savings in recent months. These are TBI Bank, Bigbank / no physical branches / and Investbank.
The increase in the interest rate is only between 0.05 and 0.20% and the more important clarification is that these are only long-term deposits for 3 years. Only small banks are still in the top in terms of profitability: BACB, International Asset Bank, Tokuda, BNP Paribas, D Commerce Bank.
Thus, the best possible interest rate for savings in our country amounts to 1.5%. At this interest rate, BGN 10,000, closed in a bank for 3 years, will bring a return of BGN 450. With a deposit of BGN 100,000, the interest income will be BGN 4,500, and half a million levs will bring a little over BGN 22,000 in 36 months, according to the financial portal My Money.
It is too early for savers to enjoy such news, commented financial analyst Desislava Nikolova. The occasional rise in interest rates at smaller banks means only one thing – competition and competition for customers. We can talk about a clear trend only when one or some of the major financial institutions raise interest rates.
Then it will be indicative and “the example will be contagious.” According to Nikolova, the process of stimulating savers can start in another way – with the abolition of superliquidity fees. They were imposed by almost all banks for amounts usually over BGN 400,000, along with zero interest rates.
The ECB is expected to decide in July to raise the key interest rate. However, it is not clear with which step – whether by 0.25% or by 0.50%. If this happens, the effect will reach the commercial banks in our country in the winter.
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