Domestic banks have raised their time deposit rates, here you can find the latest time deposit rates of 5 major domestic banks.
The National Bank announced a 25 basis point increase in the overnight policy rate (OPR) on May 11, and domestic banks followed the National Bank’s lead in raising interest rates on financial products and instruments. Time deposit rates were also raised by about 25 basis points or 0.25%.
The current rate for 1-month time deposits is about 1.75% p.a., while the 3-month time deposit rate is 1.95% p.a., 6 months takes 2.05% p.a. and 12 months is 2.10% p.a.
If you want to place a time deposit, it is advisable to choose a promotional time deposit, which offers a higher interest rate. You can also choose short-term time deposits for the time being, as the National Bank is likely to raise interest rates twice more in the second half of the year, when the time deposit rates are likely to increase again.
Take a look at the time deposit rates of 5 major banks in the country.
