• 13/02/2025 13:29

Ukrainian banks change deposit rates: what interest rates to expect

In the coming weeks, Ukrainian banks will review the terms of deposit programs. A gradual increase in rates on hryvnia deposits is expected, which may reach 14–17% per annum. However, the increase will not be instantaneous and will occur gradually.

This is reported by IZ with reference to the Ministry of Finance.

Representatives of the banking sector note that rates will not increase as significantly as the discount rate of the National Bank, which increased by 1 percentage point. It is expected that short-term deposits for three months will grow the most – to 16–17% per annum. In turn, some banks predict that the increase will be moderate and will not exceed 1%.

Long-term deposits can also benefit depositors. For example, deposits with a term of more than a year can have a yield of 14% per annum. At the same time, some banks emphasize that clients mainly prefer short-term deposits due to the unstable economic situation.

Finance experts note that Ukrainians are still cautious about long-term savings in the national currency. Most depositors are ready to place funds for a period of up to six months, since they cannot predict the exchange rate and inflation rate in the future.

We remind you that we previously wrote about how the labor market in Ukraine will change in 5 years

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