Hungarian Banks Offer Highest Interest Rate On Deposits In Europe
- 7 Jun 2012 9:04 AM
Money kept in bank deposits yields 500 basis points in real interest, which is striking even in Europe, wrote financial website Bankmonitor. This is higher than the real yields on investments on the New York Stock Exchange on average for the last 85 years, the site observed.
With projected inflation of 3% for 2013, a one-year deposit can yield 8-9%. Banks paid 2.5-4.5% interest on euro deposits. The reason for the high interest is the eurozone debt crisis, Bankmonitor noted.
Source: Hungary Around the Clock
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