Banks raise interest rates on deposits
Two Greek banks are now offering high yields for large amounts and a commitment period of up to two years through new term deposit products.
Alpha Bank announced new increased interest rates for the term deposit program Alpha Proodos Plus, which it had launched last December for amounts above 30,000 euros (that will be reduced to €20,000) and which, as it notes, includes interest rates of 0.80% to 1% above the current plan. The updated program will be available from Friday, February 10, and concerns term deposits of 12 and 24 months, enabling depositors to secure particularly attractive returns, which increase gradually every quarter, reaching up to 3%.
Eurobank, through its subsidiary Eurobank Asset Management, is offering its five-year duration DIS GF Target Maturity III Bond mutual fund until Friday, February 17. The product is aimed at investors seeking a regular income, as it provides the possibility of an annual dividend distribution, after taking into account market conditions and the current performance of the fund’s assets. For 2023, a dividend distribution of up to 3.10% is sought, payable in February 2024.
