Published: December 06 2023
Cetelem, a financial institution in Budapest, Hungary, is offering high deposit rates that exceed the expected inflation rate for 2024. These rates provide attractive savings options for individuals looking to earn interest on their deposits.
Competitive Deposit Rates
Cetelem's latest offers provide deposit rates above 8%, surpassing the expected inflation rate of 6% for 2024. These rates are available for deposits with a term of up to two years. The highest rate offered by Cetelem is 8.75% for a 24-month deposit, which is currently the highest offer among banks for retail customers.
Cetelem's elevated interest rate offers various deposit terms to suit individual preferences. Even the shortest 8-month term offers an annual interest rate of 8%, while a 12-month term provides an interest rate of 8.25%. The longer the deposit term, the higher the interest rate, with rates reaching 8.5% for an 18-month term.
For customers who prefer not to lock their funds or want instant access without incurring interest losses, Cetelem also offers the Cetelem Takarékszámla account. This account provides a savings option without requiring a fixed deposit and offers an annual interest rate of 7%. Daily interest is credited based on the balance in the account.
Increased Demand for High-Interest Savings
Cetelem has experienced a significant increase in deposits since introducing its favorable offers in 2022. The high inflation environment has made customers more conscious and actively seeking better interest rates for their savings. This growth is evidenced by the growing number of new customers opening Takarékszámla accounts with Cetelem to take advantage of the competitive rates. The popularity of the two-year deposit term further demonstrates customers' preference for long-term, high-interest savings options.
Cetelem's offers of high deposit rates above 8% present attractive savings opportunities for individuals looking to earn interest on their deposits in Budapest, Hungary. With flexible options and favorable rates that exceed the expected inflation rate, Cetelem has become a popular choice for customers seeking competitive savings options.
Questions & Answers
What are the current deposit rates offered by Cetelem in Budapest, Hungary? Cetelem is offering deposit rates above 8% for various terms, ranging from 8 months to 2 years.
Are the deposit rates offered by Cetelem in Budapest, Hungary higher than the expected inflation rate? Yes, the deposit rates offered by Cetelem are higher than the expected inflation rate of 6% in 2024.
Can I access my money without losing interest with Cetelem in Budapest, Hungary? Yes, Cetelem offers a savings account option called "Cetelem Takarékszámla" where you can keep your money accessible without losing interest. This account offers an annual interest rate of 7% without the need to lock in your deposit.
Is the growth of Cetelem's customer base in Budapest, Hungary related to higher inflation rates? Yes, Cetelem has experienced a significant increase in its customer base since introducing attractive deposit offers in 2022. The higher inflation rates have led customers to seek better savings options, resulting in the growth of Cetelem's deposit portfolio.
Why is the 2-year deposit term popular among customers in Budapest, Hungary? The 2-year deposit term is popular among customers because it provides a higher interest rate of over 8% and allows customers to take advantage of the expected decrease in inflation, potentially leading to higher real returns.
Is Cetelem open to both Hungarian citizens and foreign nationals living in Hungary? Yes, Cetelem's deposit offers are available to both Hungarian citizens and foreign nationals residing in Hungary.
Does Cetelem offer different deposit options with varying terms in Budapest, Hungary? Yes, Cetelem provides various deposit options with terms ranging from 8 months to 2 years. The interest rates vary depending on the duration of the deposit.
Are the deposit rates offered by Cetelem in Budapest, Hungary competitive compared to other banks? Yes, Cetelem's deposit rates are currently among the highest available offers in the market for retail customers in Budapest, Hungary.
How often does Cetelem update its deposit rates in Budapest, Hungary? The article does not provide information on the frequency of rate updates by Cetelem.