Banks Reduced Deposit Interest

Nine banks in Bulgaria reduced deposit interest rates in January 2012.

 

According to the report, Allianz Bank stopped offering advantageous interest rates for its term deposits and returned to standard interest rates.

 

Piraeus also shut down lucrative term deposit offers and re-introduced standard interest rates.

 

Societe Generale Expressbank changed interest rates on some of it term deposits, reducing interest rates by 0.25 per cent on deposits denominated in local currency the lev and 0.4 per cent for deposits denominated in euro.

 

United Bulgarian Bank cut interest rates on euro-denominated deposits by 0.25 per cent.

 

Raiffeisenbank cut interest rates for its "3+3" deposit in euro by 0.5 per cent. International Asset Bank changed interest rates by almost one per cent. January saw deposit interest rate cuts by MKB Unionbank, FIB and Central Cooperative Bank.

 

 

 

First Investment Bank, Alpha Bank and Raiffeisenbank extended their advantageous home loan offers. Emporiki Bank Bulgaria will be offering mortgage loans with three to five year fixed interest rates until the end of February. UBB clients are offered a 6.7 per cent interest rate on their "first home" euro-denominated loan, the report said.

 

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