The Romanian International Bank (RIB) increased interest to an 11.5 percent high for 1-year deposits, the bank announced yesterday. A similar offer was introduced yesterday by the Romanian branch of Israeli Bank Leumi, for 6-month deposits. Bank Leumi actually offers the 11.5 percent interest from the start of the deposit, translating to an annual yield equivalent to 12.2 percent.
This is the highest level of interest on the market. As such, RIB and Leumi have exceeded the previous high of 11.25 percent, offered by ProCredit Bank, as well as by Libra Bank, Banca Romaneasca, Piraeus Bank, or Credit Europe Bank. The best interest for 3-month deposits continues to be that offered by ProCredit, at 11.25 percent.
Most banks, but especially medium-sized ones, have settled interest around 10 percent in the past few months, a level adopted only recently by the market’s leader, Banca Comerciala Romania (BCR). Banca Romana de Dezvoltare’s (BRD) interest is close to the inflation rate, and the lowest interest for lei is available from ABN Amro, which offers only 3.5 percent annually.
