Czech banks update savings account interest rates and loyalty programs

Czech banks are adjusting their savings account offerings with varying impacts on customers. Česká spořitelna has implemented a new loyalty program called ‘Level Up’ as of October 1. While the maximum interest rate has increased from 3.80% to 5.20% per annum, this top rate is only accessible to a small number of clients who meet specific criteria across five product categories. Many existing customers may see their rates decrease; for instance, those who previously earned 3.80% by investing 2,000 CZK monthly may see their rate drop to as low as 2.50% unless they hold additional products with the bank. The higher rates apply only to balances up to 400,000 CZK.

In contrast, Trinity Bank is increasing the yield on its ‘Narozeninový’ savings account. Starting October 19, the rate for deposits up to 500,000 CZK will rise from 4.08% to 4.28% per annum. A notable feature of this offer is the long-term guarantee, as the bank will maintain this 4.28% rate until March 31, 2027. Amounts exceeding 500,000 CZK will continue to earn 3.30% per annum. This rate increase applies automatically to existing customers as well as new clients.