Even in the months leading up to your vacation, you can make a lot of money, but there is a big difference between banks if you invest a lot more for a longer period of time. We looked for the best deposit rates on EarnPassion Bank.
It is not surprising where we found the highest deposit rates
The central bank base rate record is low, but due to the transaction fee and other bank charges, there are lower interest rates in large banks due to lack of competition. Financial institutions with many clients do not offer outstanding offers, just like the small ones wishing to expand. On the podium of our top ten list are only smaller banks, each with an interest rate of 4 percent or more. Of the really big ones, only the first 10 bids were published by EarnMe, NNB and Hanzel.
With a shorter duration, the image is slightly more mixed. For example, in case of a larger amount, LifeSavings Bank, which is brilliant, is nowhere to be found, as it offers free account management only for deposits with a minimum deposit amount of 1 million. So the list didn’t fit, but if we had a smaller deposit and a bigger amount, we could get a great return.
ASA, on the other hand, is steadily ranked second in this category. However, it is important to note that the bank will terminate its unconditional free accounts, replacing them with new account management fees if there is no income on the account or we do not have sufficient savings at the bank.
Even among the euro-savers, there are few big banks in the top ten
But at the forefront there is a huge difference between the first and second credit institutions. LifeSavings Bank pays for these savings more than twice as much as the second NNB Bank, but the interest rate is even higher than its own dollar deposit.
So at this point it’s worth looking around at smaller credit institutions to find the best interest rates, but never forget the transaction fee and other fees when moving our money. In the long run, it is definitely worth choosing TBSZ accounts that offer interest discounts as this can greatly increase the actual yield.