Bankers have adjusted interests they pay on deposits several times this year, and with promotional offers becoming increasingly rare, incentives to save are increasingly weak.
Whilst for euro-denominated deposits, there are still offers of interests of between 3% and even 4% a year (for three-month deposits), which are relatively high compared with interest rates on international markets, for leu-denominated deposits, the interests offered by bankers no longer keep up with inflation.The best interests on leu-denominated deposits seldom exceed 7%, with only one bank – Greece’s ATE Bank – paying 7.75% a year. This compares with an 8.1% inflation in March, amid the increase in the price of food and of fuels.
However, analysts come with good news, announcing that interests should no longer see major declines in the coming period.
“There will probably continue to be tempting offers, especially for loyal clients banks will use a retention system,” says Lucian Anghel, chief economist of the BCR. In fact, BCR, the biggest local bank by assets, has recently decided not to extend a promotional offer that has been going on for a year, with the latest offers being of 7% a year for three-month deposits in lei and of 3.5% a year for euro-denominated deposits. In its standard offer, the bank pays, depending on the amount deposited, interests of between 5.95% and 6.45% a year for leu-denominated deposits, and of between 2.2% and 2.6% a year for loans in euros.