ZF English

Banks are starting to cut interests on RON

18.01.2010, 00:00 7

Those seeking to get an over 10% interest must hurry. Only threebanks on the market are still offering over 10% for three-monthdeposits in RON. Marfin Bank, controlled by the Greeks by the samename, RBS and Millennium Bank announced a 10.25% fixed interest.The leader among the banks with the highest interests forthree-month RON deposits until yesterday, Millennium Bank, held bythe Portuguese by the same name, today cut the rate by 0.75% from11%. The banks that pay the highest interests also include IntesaSanpaolo Bank, a small bank. The Italians at Intesa are still amongthe banks with the highest interests only because of the variable10.8% interest on RON deposits, with the interest rate updated onthe first day of every month depending on the benchmark rate validon the day before the last working day of the previous month. Thefixed interest level is only 8.5%. ING Group, which until recentlywould pay 10% fixed interest for three-month deposits in foreigncurrency in turn cut it to 9%. As far as three-month deposits ineuros are concerned, the interest does not exceed 4%. The highestinterests are paid by the Greek at ATE Bank and Marfin Bank. Thirdleading bank in this respect is Intesa, with 3.96% but this isagain variable interest, as the fixed interest is 3.25%. Carpaticaand Millennium Bank are paying 3.75% interest.

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