The interest in the savings account is also increased by mBank and Fio banka. They have joined a number of competitors who have improved their savings in previous weeks, or announced an increase in interest rates in early February.
mBank attracts 3%, but only for new clients who also open a current account at the same time (this is without management fees and basic services, moreover, it is not necessary to use it). New clients will receive 3% interest on deposits up to CZK 200,000; if the limit is exceeded, the interest for the entire deposit (not only for the part above this limit) will fall to 0.01%. The interest rate will also automatically increase for people who have opened an account with mBank at any time since December 21 last year with an action rate of 2.5%.
Former mBank clients – with an account opened by December 20 – will continue to reach only 1.5%, which they can under relatively complicated account conditions mSavings use for deposits up to 800 thousand.
It has simpler and more equal conditions for old and new clients banka wire. It will increase the maximum interest rate on the savings account from February yarn konto to 2.5% from the current 1.5%. However, this only applies to deposits up to CZK 200,000. The possible part from 200 thousand to one million bears interest at only 0.1% (so far 0.05%), from one to ten million 0.15% (so far 0.8%) and over ten million 0.2% (so far 0 , 1%).
What does their current comparison with the competition look like?
You can now get the highest interest on a classic savings account at Creditas, which increased it to 3.6% for balances up to 350 thousand and 2.6% for part of the balance above this limit. However, the increased interest rate only applies to new deposits after 16 January, ie transfers from other banks or cash deposits. Earlier deposits in Creditas continue to earn 2.8% (up to 350 thousand) or 1.8% (over 350 thousand).
Hello bank from 1 February, it will increase the interest rate to 3.1% (from the current 1.8%), both for new and existing clients. The ceiling for such interest – CZK 200,000 – does not change. Any part of the deposit above this limit will not bear interest.
Trinity Bank offers 3.08% without a deposit ceiling, but only for those who have set up – or are about to set up – a new savings account (this may also be existing clients) and deposit money into it that they did not have as of 21 December in Trinity Bank. If these conditions are not met, they will receive a maximum of 2.58%.
If you don’t want to deal with restrictions on old and new deposits or different ceilings, you can try Neo account from Expobank with an interest rate of 3.01% without a deposit limit. It is a current account that automatically pays interest on everything you have in it.
The best savings accounts by interest rate |
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| Bank | Name | Maximum interest | Limitations |
| Banka Creditas | Savings account + | 3,6 % | For new deposits: interest 3.6% to 350 thousand, 2.6% for the part above this limit. For older deposits, the interest rate is 2.8% (up to 350 thousand) and 1.8% (over 350 thousand), with a notice period of one month up to 3%. Otherwise no conditions. |
| Hello bank | Hello savings | 3.1% (1.8% so far) | Interest of 3.1% from February 1. For deposits up to CZK 200,000, the part over CZK 200,000 will not bear interest. |
| Trinity Bank | Savings account Advantage + Good client | 3,08 % | No limit on the total amount. For existing and new clients, if they open a new savings account and deposit money into it that they did not have deposited with Trinity bank as of December 21 (the total balance must be increased). If the previous balance is not increased, the interest rate is 2.58%. |
| Expobank | Neo account | 3,01 % | Without limits. It is a current account without fees, the interest applies to any amount. |
| mBank | mSavings | 3 % | Only for new clients who open a current account at mBank (this is free of management fees and basic services). For deposits up to CZK 200,000, the interest will drop to 0.01% if the limit is exceeded. For current clients, the maximum is 1.5% (accounts set up from 21 December will reach 3%). |
| J&T Bank | Savings account | 3 % | The initial deposit must be at least one million crowns. This condition does not apply to existing clients who already have or have had deposits in J&T Bank in the amount of at least one million crowns or investments of at least 100 thousand crowns. The notice period is one day. With a notice period of one month (33 days), the interest rate is 3.25%. |
| Sberbank | Savings account | 2.9% (or 2.7%) | The condition is a current account at least in the Plus variant – it is free of charge only if you pay by card at least five times a month. Interest 2.9% for deposits up to three million, or 1.2% for higher amounts. Without current account (or with Start variant) 2.7% and 1.1%. |
| Moneta Money Bank | Savings or Saved | 2,5 % | The interest rate of 2.5% for deposits up to one million is 0.5% for part of the deposit over one million. You need to open a new savings account, otherwise without conditions. |
| banka wire | yarn konto | 2.5% (so far 1.5% | Interest 2.5% from 1 February (also for older deposits). For deposits up to CZK 200,000. For the range of 200,000 to one million, the interest rate is 0.10%, from one to ten million 0.15%, over ten million 0.2%. |
| Equa bank | Savings account Hit | 2.5% (so far 1.5%) | 2.5% interest from 1 February. For deposits up to CZK 200,000. The condition is at least three card payments per month or a total investment of at least 50,000, otherwise the interest in a given month will drop to 0.1%. Part of the deposit over CZK 200,000 will bear interest at 0.1%. |
| Air Bank | Savings account | 2,5 % | For deposits up to CZK 250,000 with at least five card payments per month. The part from CZK 250,000 to CZK 1,000,000 bears interest at 0.1%, any part over CZK 1,000,000 does not bear interest. |
| Raiffeisenbank | Savings account XL | 2.5% (so far 1.5%) | 2.5% interest from 1 February. The highest interest rate is only for deposits up to CZK 150,000 and only when the current account is actively used (income of at least CZK 15,000 per month and three outgoing payments per month). The balance from CZK 150,000 to CZK 500,000 will bear interest at the rate of 0.1%, the part of the deposit exceeding CZK 500,000 will bear interest at the rate of 0.01%. |
| Source: official documents of banks, Money.cz | |||
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There are a few other accounts where you can get more. But their conditions are much more complicated.
V Commercial bank you can reach at 4 % Komerční banka under the name Savings Account Bonus Invest. But it has two important conditions: To have a current account with it or to open one. And most importantly: New with KB to invest in mutual funds (from Amundi), the same or higher amount. In other words: the savings account will earn as much as you can at the same time as you put into the funds. A similar combination saving a investment promote i ČSOB a Sberbank.
Highest interest rates on savings accounts with more significant restrictions |
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| Bank | Name | Interest | Limitations |
| Commercial Bank | Savings account Bonus Invest | 4 % | The condition is at the same time to invest the same or higher amount in mutual funds, including the entry fee (for some it is waived) and also to have a current account with Komerční banka. |
| Sberbank | Investment bonus | 3,7 % | The condition is to invest at least CZK 300,000 in mutual funds, including the entry fee. The interest of 3.7% on the savings account is then paid up to a maximum of 500 thousand, the bank guarantees it for a period of one year. For amounts over 500 thousand, the interest rate is 0.01%. |
| ČSOB (Poštovní spořitelna) | Duo Profit | 3,5 % | The condition is to invest at least CZK 30,000 in mutual funds, including the entry fee. The interest of 3% on the savings account is then paid only up to the amount corresponding to the amount of the investment, the bank guarantees it for a period of one year. Then only standard interest (currently 0.01%). |
| Banka Creditas | Richee Junior savings | 2,8 % | This is a savings account for children. Interest of 2.8% applies to deposits up to CZK 350,000, above this limit 1.8%. Withdrawal restrictions (monthly limits). |
| Source: official documents of banks, Money.cz | |||
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Years savings accounts with an interest rate of around 3%, they are far from covering rising inflation. It won’t actually multiply your savings, even if it leaves you with a lot more than that current account with zero interest (except for current accounts from Expobank with 3.01% without restrictions and from Hello Bank with 0.5% up to the limit of CZK 100,000).
Therefore, savings accounts are only good for cases where you have a little extra money, but you want to have them all available at any time, because you do not know when you will need them. If you know you may miss some of the savings for some time, try other options.
They come first term deposits, but even the best do not have significantly higher interest rates now than savings accounts. At the same time, the Czech National Bank will increase its rates further, so that interest rates on savings accounts and term deposits may continue to rise. Whoever now undertakes not to touch the money in the bank (term deposit) for several years will not receive a better interest rate. Here we go the latest overview of the best term deposits.
The best offers building societies will now bring in a net return of over four percent. However, the condition is to save at least six years. Building savings moreover, it will not help you in a situation where you have tens or even hundreds of thousands free that you want to protect against inflation. Stavebko will bring the mentioned maximum rating with regular savings of 1700 crowns per month.
Inflation is fully covered up government anti-inflation bonds, but the new Minister of Finance their next issue stopped. So you can’t buy them anymore.
If you want to have a chance to beat inflation, you have to take more risks and start investing, for example in mutual funds, directly into shares, rely on further price increases real estate or believe in the future kryptoměn.
At Money, you will find clear and independent instructions on how to start investing and not burn yourself:
