It continues to offer the highest interest rate on a savings account among banks UniCredit: 5.5% per annum (pa). However, this is only a special promotion for completely new clients who do not yet have an account with UniCredit. It does not change its approach to its existing clients: they only get 2.5% up to half a million on a savings account.
The condition for the 5.5% interest is to open one of the current accounts at UniCredit Bank by September 30 Start, Open nebo Top, while the Start option is always without a monthly fee and it is not necessary to use it in practice to earn interest. The interest applies to deposits of up to one million crowns and the bank guarantees it until the end of June 2023. Let’s add that it is not formally a savings account, but a kind of duplicate of a current account (special payment account).
She came in second place Moneta Money Bank. As of July 27, it increased the maximum interest to 5.1%, and also raised the ceiling for its use to 500,000. Any part of the deposit above this limit bears interest at 2.1%. Previous and new clients can get these interests, but not everyone: The condition is to also use a current account from Moneta (its management and basic services are free), so that at least CZK 20,000 comes into it every month and you pay at least five times by card . If the conditions are not met, the interest is a maximum of 3.5% up to half a million (and 0.5% above the limit).
Interest starting with a five – equal to 5% – is also available to existing and new clients mBank. However, the product called mSpoření has complicated conditions: You need to have a (free) mKonto current account. mSavings works in the form of goals, for which one of the three methods of regular savings is assumed, but in practice it is not necessary to increase the original deposit. You get 5% interest if you have a maximum of 100,000 crowns in your account. When this limit is exceeded, interest on the entire balance (that is, even on parts up to 100,000) drops to a practically zero rate of 0.01%. By being able to establish up to eight targets, the total cap can be increased to 800k. On a classic savings account called eMax Plus, mBank gives 4% interest up to 500,000, you can open up to four at the same time.
The Neo account from Expobank with 4.61% interest without limit. Although it belongs to current accounts, it keeps pace with the best savings accounts in the long term. Most banks do not pay interest on their current accounts at all, except for Expobank, Hello bank is an exception with 0.5% up to a limit of 100,000.
Best Savings Accounts as of July 28, 2022 |
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| Bank | Name | Maximum interest | Limitations |
| UniCredit Bank | Promotion for a new current account | 5,5 % | Only for new clients who open a current account. Interest is paid on deposits up to a million. |
| Moneta Money Bank | Savings D, Savings D | 5,1 % | For deposits up to CZK 500,000. For the part above this limit, the interest is 2.1%. Condition: at least CZK 20,000 comes into the account every month and you pay by card at least five times. It is necessary to open a new savings account (also for existing clients) if you do not yet have a type D. If the conditions are not met, the interest is a maximum of 3.5% and 0.5%. |
| mBank | mSavings | 5 % | The condition is a (free) current account and the choice of one of the four variants of regular savings. This takes place in the form of goals, each of which can save a maximum of CZK 100,000. Exceeding the limit means that the entire deposit falls to practically zero interest. The limit can be increased up to CZK 800,000 thanks to the fact that it is possible to establish up to eight goals. |
| Expobank | Neo account | 4,61 % | Without limits. |
| Bank Credits | Savings Account+ | 4,5 % | For deposits up to CZK 350,000. For the part above this limit, the interest is 3.1%. With a notice period of one month, the interest is 4.8% (up to 350,000) and 4% (over 350,000). |
| Fio bank | Fio account | 4,5 % | For deposits up to CZK 200,000. For the band from 200,000 to a million, the interest is 0.10%, from one to ten million 0.15%, above ten million 0.2%. |
| Raiffeisen Bank | Hit Plus savings account | 4,5 % | For deposits up to CZK 250,000 and with at least three card payments per month (if the condition is not met, the interest will drop to 0.1%). The part from 250,000 to 500,000 CZK bears interest at 0.1%, above 500,000 CZK only 0.01%. |
| Hello bank | Hello savings | 4,5 % | For deposits up to CZK 200,000, the part above CZK 200,000 does not bear interest. |
| J&T Bank | Savings account | 4,25 % | The initial deposit must be at least one million crowns. The condition does not apply to existing clients who already have or had deposits of at least one million or investments of at least CZK 100,000 in J&T Bank. The notice period is one day. With a notice period of one month (33 days), the interest is 4.65%. |
| Trinity Bank | Advantage+ Good client | 4,08 % | Without limits. |
| mBank | eMax Plus | 4 % | For deposits up to CZK 500,000. You can open up to four accounts and thus increase the total limit to two million. Deposits above the limit are practically free of interest (0.01%). |
| Equa bank | Savings account Extra | 4 % | For deposits up to three million. If you send a payment from the account in a given month, the interest will drop to 0.1%. |
| Air Bank | Savings account | 4 % | For deposits up to CZK 500,000 with at least five card payments per month. The part from CZK 500,000 to CZK 1,000,000 bears interest at 0.1%, the part above CZK 1,000,000 does not bear interest. |
| Fio bank | Fio savings account | 3,5 % | You can withdraw or transfer money from the account a maximum of four times per calendar month. |
| ČSOB | Savings with a bonus | 3,3 % | For deposits up to a million. The condition is to use the ČSOB Smart mobile application at least once every three months. The part over a million bears interest at 0.15%. |
| Commercial Bank | Bonus savings account | 3,3 % | For deposits up to CZK 200,000. The part above this limit practically does not bear interest (max. 0.03%). |
| Czech Savings Bank | Savings of the Czech Republic | 3,25 % | Only for clients with a Plus account or with the Erste Premier or Erste Private Banking programs. Those who invest at least CZK 300 per month will reach 4.25%. The interest mentioned refers to deposits up to CZK 200,000 (for the Exclusive program up to CZK 400,000, for Erste up to one million), for the part above this limit only 0.01%. |
| Equa bank | Hit savings account | 3 % | For deposits up to CZK 200,000. The condition is at least three card payments per month or a total investment of at least 50,000, otherwise the interest will drop to 0.1%. The part of the deposit above CZK 200,000 bears interest at 0.1%. |
| Source: official bank documents, Peníze.cz | |||
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Savings cooperative Ney even offers 5.75% on a savings account. However, it has several limitations: save at least 20,000 crowns and notify any withdrawal at least a month in advance. The notice period is one month, while standard savings accounts can be withdrawn practically immediately. Another condition follows from the fact that it is about credit union or campelicku. According to the law, you have to take into account the 1:10 rule with them – a tenth of the deposited money needs to be added to the membership deposit. This is then valued or, on the contrary, devalued according to the financial results of the pawnshop and is not included in the state deposit insurance system. In other words: The part of the savings exceeding ten times the membership share does not bear interest. You don’t have to worry about the money in the savings account even in the pawnshop, it is covered by the same insurance as banks – i.e. up to a limit of 100,000 euros (almost 2.5 million crowns in conversion). It also returned to the peak after a long time Artesa savings association s 4,75 %.
Even the best savings accounts are far from covering the rising inflation, which already rose to 17.2% year-on-year in June. According to the latest estimates of economists, the average rate of inflation for the whole year should be around 15%. Our calculator will practically show you how inflation eats away at savings.
The advantage of savings accounts is that money can be withdrawn at any time. The bank can change the interest rate both upwards and downwards almost immediately. It differs from term deposits: with them, you commit not to withdraw the money for a certain period of time. In exchange for this, the bank guarantees you that the original interest rate will not change for the entire duration of the deposit – this can turn out to be an advantage, but also a disadvantage, depending on future market developments.
The highest interest rates for term deposits for half a year |
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| Bank | Interest | Limitations |
| Ney savings association | 7 % | The minimum deposit is CZK 20,000. A tenth of the saved money needs to be added to the membership deposit. |
| UniCredit Bank | 5,7 % | Up to a limit of five million crowns. The minimum deposit is CZK 30,000. |
| Moneta Money Bank | 5,3 % | The minimum deposit is CZK 40,000. |
| Bank Credits | 5,2 % | The minimum deposit is CZK 5,000. |
| Expobank | 5,11 % | The minimum deposit is CZK 100,000. |
| ČSOB | 5 % | Up to a limit of three million crowns. The minimum deposit is CZK 5,000. |
| Oberbank | 5 % | The minimum deposit is CZK 30,000. |
| J&T Bank | 4,85 % | The initial deposit must be at least one million crowns. The condition does not apply to existing clients who already have or had deposits of at least one million or investments of at least 100,000 in J&T Bank. |
| Czech Savings Bank | 4,5 % | The minimum deposit is CZK 5,000. |
| Source: official bank documents, Peníze.cz, status as of 7/28/2022 | ||
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The highest interest rates for term deposits for one year |
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| Bank | Interest | Limitations |
| Ney savings association | 7,25 % | The minimum deposit is CZK 20,000. A tenth of the saved money needs to be added to the membership deposit. |
| Artes to save. team | 6,3 % | The minimum deposit is CZK 20,000. A tenth of the saved money needs to be added to the membership deposit. |
| UniCredit Bank | 6 % | Up to a limit of five million crowns. The minimum deposit is CZK 30,000. |
| J&T Bank | 5,5 % | The initial deposit must be at least one million crowns. This condition does not apply to existing clients who already have or had deposits in J&T Bank of at least one million crowns or investments of at least 100,000. |
| Moneta Money Bank | 5,3 % | The minimum deposit is CZK 40,000. |
| Oberbank | 5,1 % | The minimum deposit is CZK 30,000. |
| Trinity Bank | 5,08 % | Interest 5.08% for a deposit up to 400,000, for the part above this limit 4.58%. Formally, it is an annual fixation of the deposit in the savings account. |
| Expobank | 5,01 % | The minimum deposit is CZK 100,000. |
| Raiffeisen Bank | 5 % | 5% interest for deposit up to 10 million. For the band from 10 to 30 million, the interest is 5.5%. Above 30 million it drops to 0.01%. The minimum deposit is CZK 10,000. |
| ČSOB | 5 % | Up to a limit of three million crowns. The minimum deposit is CZK 5,000. |
| Czech Savings Bank | 4,5 % | The minimum deposit is CZK 5,000. |
| Source: official bank documents, Peníze.cz, status as of 7/28/2022 | ||
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