INTEREST DEPOSIT RATES – WORLD EDITION

by | May 12, 2023

The deposit interest rates offered in various countries. Deposit interest rates refer to the percentage of interest that financial institutions offer on deposits made by individuals or businesses.

From highest to Lowest.

🇦🇷 Argentina: 85.98%

🇻🇪 Venezuela: 36%

🇺🇦 Ukraine: 13.23%

🇭🇺 Hungary: 12.5%

🇪🇬 Egypt: 10.8%

🇧🇷 Brazil: 10.31%

🇵🇰 Pakistan: 7.25%

🇹🇷 Turkey: 7%

🇮🇳 India: 7%

🇵🇱 Poland: 6.25%

🇷🇴 Romania: 6%

🇿🇦 South Africa: 5.96%

🇷🇺 Russia: 5.81%

🇧🇩 Bangladesh: 5.42%

🇮🇩 Indonesia: 5%

🇨🇦 Canada: 4.64%

🇲🇽 Mexico: 4.43%

🇰🇷 South Korea: 4.16%

🇮🇱 Israel: 3.84%

🇬🇧 UK: 3.75%

🇸🇦 Saudi Arabia: 3.7%

🇸🇪 Sweden: 3.4%

🇦🇺 Australia: 2%

🇳🇴 Norway: 2%

🇨🇭 Switzerland: 0.94%

🇨🇳 China: 0.35%

🇧🇬 Bulgaria: 0.02%

🇭🇷 Croatia: 0%

🇯🇵 Japan: -0.15%

EXAMPLES ON WHAT THIS MEANS:

Example 1 – High Interest Rate: Argentina

Argentina offers a deposit interest rate of 85.98%.

This means that if you deposit a certain amount of money in an Argentinian bank, you will earn 85.98% interest on that deposit over a specified period.

For instance, if you deposit $1,000, after the agreed-upon time, you would earn $859.80 in interest.

Example 2 – Moderate Interest Rate: South Africa

South Africa provides a deposit interest rate of 5.96%.

If you deposit money in a South African bank, you would earn 5.96% interest on that deposit.

For instance, if you deposit R10,000, after the agreed-upon time, you would earn R596 in interest.

Example 3 – Low Interest Rate: Switzerland

Switzerland offers a deposit interest rate of 0.94%.

With such a low rate, depositing money in a Swiss bank would yield minimal interest.

For example, if you deposit CHF 10,000, after the agreed-upon time, you would earn CHF 94 in interest.

Example 4 – Negative Interest Rate: Japan

Japan has a deposit interest rate of -0.15%.

This means that depositing money in a Japanese bank would result in a negative return.

For instance, if you deposit JPY 1,000,000, after the agreed-upon time, you would incur JPY 1,500 in interest charges.

Example 5 – Moderate Interest Rate in Emerging Market: Brazil

Brazil provides a deposit interest rate of 10.31%.

If you deposit money in a Brazilian bank, you would earn 10.31% interest on that deposit.

For example, if you deposit BRL 5,000, after the agreed-upon time, you would earn BRL 515.50 in interest.

These examples demonstrate how deposit interest rates differ across countries and highlight the potential returns or costs associated with depositing money in various financial institutions.

Also, these exclude the compounding effect and if the interest rate changes over time (as they do).

But it gives us a bit of a better idea on how different countries interest deposit rates are.

If you enjoy these Economical insights let me know by commenting “YES”.

Then I’ll be sure to do more research for you on them.

Trade well, live free.

Timon

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