Savings interest rates rise with fixed-term options up to 3%

Savings interest rates have seen notable increases following recent central bank rate hikes. In Austria, several banks are offering competitive rates for various deposit products.

For short-term options, Santander Consumer Bank has increased its Bestflex Online daily savings rate from 1.75% to 1.9%. New customers at Santander, Addiko, and Dadat Bank can access introductory rates of 2.7%, though these are guaranteed for only three to four months.

Fixed-term deposits offer higher yields for longer durations. Denizbank provides up to 2.9% for one-year fixed interest on balances starting from 1,000 euros. For longer commitments, Kommunalkredit Invest offers rates of approximately 3% for two- or three-year terms, provided a minimum investment of 10,000 euros is met. Other institutions like Hypo Niederösterreich, Denzel Bank, and Vakifbank also offer competitive fixed rates ranging between 2.75% and 2.85% depending on the term and deposit amount.