We are introducing one of the best deposit products in the country with up to 2% interest
19.05.2022 Share +
The economic uncertainty, rising inflation and the situation in Ukraine are among the reasons that led to a stagnation in the term deposit market in Bulgaria. Also contributing to this were the zero interest rates and fees many banks introduced which provoked depositors to look for alternatives for their savings.
In this context, we are one of the few financial institutions that still offers positive returns to customers through our traditionally profitable savings products. Our new deposit offers are aimed at clients who are looking for a wide variety of periods, both short and longer-term ones, and have some of the best interest rates in Bulgaria – up to 2%. Thus, our portfolio already includes deposits with maturities between 1 and 60 months, with no fees for opening, maintaining and withdrawing at maturity and no risk for customers – funds up to EUR 100,000 are protected by the Bulgarian Deposit Guarantee Fund. Additional flexibility comes from the fact that our deposits are breakable before maturity without any penalties. And finally – with tax on interest income being recently removed, what customers see as offered interest on deposits is what they actually get.
"Term deposits have always been the safest savings solution with predictable return which is especially important in times of market volatility and dynamism," said Luкas Tursa, SVP at TBI Bank. "We are known for the best interest rates in the markets where we operate and to continue being the most preferred place for customers’ savings, we made another step in this direction. The various maturities we now offer combined with good returns we always provide will allow our customers to partially mitigate the negative effects of the expected inflation.”
To promote our new deposit offers, we restarted our “Motivate your savings” TV campaign that won the prestigious Effie Award. Its aim is to raise the question of how Bulgarians save, how well informed they are on the subject and whether they consider all available options.
The past year marked exceptional financial results in all business lines for us – we reported a record net profit and our deposit portfolio grew significantly more than the market average.