As ECB kept the main policy interest rate below the zero mark for almost a decade, many banks gradually stopped offering interest on deposits and even charged their customers by implementing various fees. This situation, along with the rising inflation urged Bulgarians to find better ways to protect their savings, rather than letting them deteriorate by ”sleeping” in their home bank. Еven though ECB already changed its monetary policy, the majority of local banks in general are still not reflecting this in the interest rates on savings they offer.
On the contrary, the customer-focused tbi bank is moving ahead of the market and continuously creates new opportunities for its clients, aiming to become the most preferred place for people’s savings. This is why, the bank updated its deposit offers with a market-leading interest rates reaching 3%. Moreover, tbi introduced a new short-term tenor of 5 months with 1.5% promotional interest valid until end of the year, targeted at new customers, to better address the needs of the customers with shorter saving horizon.
The bank’s portfolio now includes deposits with maturities between 1 and 60 months, with no fees for opening, maintaining and withdrawing at maturity and no risk for customers because and guaranteed up to 100 K euro. Further benefits of tbi’s deposits is the option to top up the initially deposited amount and to be able to break a deposit before maturity without incurring any penalties.
“Our focus has always been on providing our clients with solutions that meet their financial needs. This is why, in these challenging times we are here to motivate customers to save by providing them with predictable return on their money both in the short term and in the long term,” said Lukas Tursa, Executive Director at tbi bank. ”In 2022 we saw a significant increase in the demand of short-term deposits, this is why our new offer is here to address this trend and give customers the needed flexibility and peace of mind.”
Just a few months back, tbi also announced its support for business clients as it was one of the first banks in Bulgaria that waived the negative charge on current accounts for corporate clients, no matter the amounts held at the bank. The bank is also one of the very few banks on the market that offers attractive interest rates for business deposits in BGN, EUR and USD.