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Interests on Deposits Hit Bottom

Date: 30.04.2010

The average annual interest rate on newly opened deposits of Bulgarian citizens is just 5.86 %, which is their lowest level in seventeen months.

For comparison, during six of the past fifteen months the interest rates on deposits were about seven percent, while in another four months of the same period they were over seven percent, hitting a record of 7.23 % in May 2009.

The average annual interest rate on the most popular deposits in Bulgaria - three-month term deposits in euro, is 5.69 %. Finance experts explain the falling interests on deposits with the increasing amount of bank deposits, which has grown to 2.9 billion levs over the past twelve months.

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