Bank deposits in December. 8 percent in three banks

HREIT conducted an analysis regarding bank deposits. The collected data shows that at the end of December the average interest rate on the best deposits and savings accounts is 5.53%. This is slightly less than a month ago.

Bartosz Turek, chief analyst at HREIT, points out that the level of deposit interest rates is related to what is happening with interest rates. They have remained unchanged since October last year (the main reference rate is 5.75%), but the financial market is still trying to predict what may happen in the future.

– Recently, the president of the National Bank of Poland heated up the atmosphere. At the beginning of December, he announced that we would have to wait a little longer for interest rate cuts. Instead of March 2025, it was announced that monetary policy would be eased only in 2026. However, the banking market did not fully believe in these assurances. Futures quotations have actually stopped indicating March as the moment of easing monetary policy, but now in this context they are talking about spring 2025. And although these are only the effects of speculation between financial market participants, they are important from the point of view of our portfolios. These quotations are an emanation of expectations, so they also show us how banks see the future of the cost of money in Poland – explains Turek.

The expert points out that, as a consequence, the prolonged wait for the easing of monetary policy “is hurting borrowers’ pockets, worries people who dream of buying their own apartment, but pleases savers.” Each subsequent month without interest rate cuts gives additional time to benefit from the current interest rates. deposits.

Bank deposits in December. Where’s 8 percent?

The December deposit offer was improved compared to November in three banks. Deterioration of promotional deposit offers was recorded in five institutions.

As mentioned, the average interest rate in December was 5.53 percent, but there are plenty of offers where you can count on up to 8 percent. on an annual basis. It’s about:

• Deposit Account (BNP Paribas bank offer which can be used until the end of March 2025),

• Mega Savings Account (3-month deposit from Alior Bank),

• Flexible Savings Account (3-month deposit from VeloBank).

HREIT points out that attractive interest rates are, however, associated with additional conditions. The classic “stars” are the amount limit, the short period of using the promotional interest rate and targeting these offers to new customers or at least people who bring new funds to the bank. Often, a necessary condition is the active use of additional products (card, account, mobile application). In addition, very often, if we want to enjoy a higher interest rate, we must not only regularly top up the account or maintain a minimum balance on the account, but also actively use payment services (card or BLIK). At least some banks also require people making deposits to provide the so-called marketing consents. This means that promotional interest will be charged, but only when we allow bank employees to contact us regarding the sale of other products or services.

– The effect of this is that some people find satisfaction in transferring their savings several times a year from bank to bank to gain an additional PLN 100, PLN 200 or e.g. PLN 300 in interest each time, while others give up on such juggling. – summarizes Bartosz Turek.