Banks are ahead of the MPC decision. Cutting on deposits is already visible

Although the RPP interest rate reductions are just ahead of us, some banks are already visible in larger interest rates on deposits. Changes to the detriment of customers reach up to some deposits up to 2 pp.

It is becoming louder and louder that these are the last moments with NBP interest rates in the current amount. Economists and analysts are convinced that the decision on foot cuts will be made at the next meeting of the Monetary Policy Council in May.

The fact that the MPC is expected that the situation will change in the direction of lowering interest rates was mentioned by the President of NBP, Adam Glapiński at a press conference on the current economic situation in Poland at the beginning of April. This is due to the expected decrease in inflation.

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NBP interest rate drops will entail reduces interest rates on time. Banks, however, are not waiting for the Republic of Poland's decision and the rates have already begun to cut at some periods – in particular those for a longer period. Worse conditions for deponists have recently been proposed by, among others Alior Bank, Bank Millennium, Inbank, Nest Bank and Velobank.

Cutting up to 2.00 pp.

Over the past two weeks, five banks have changed the rates on term deposits. The largest castling in the interest rate can be observed in Velobank. In the case of Velolokata, for higher days, long -term deposits were replaced by lower percentages. In the case of offers for dates from 324 days to 366 days, the cut was 2 pp. (from 4.50 percent per year to 2.50 percent per year), which is the highest reduction recorded in the table. Currently, the highest interest rate on this deposit is available for one of the shorter dates, i.e. from 62 days to 92 days – here the increase was 2.75 pp. And the applicable rate is 4 percent. per year. The highest interest rate is available before changing the table, i.e. 4.50 percent It is currently not available per year.

This is not the end of the changes in Velobank. The bank has changed the dates to which it can be opened Deposit for new funds and reduced the interest rate on other periods. The long-term deposit for 12-month was replaced by a 2-month deposit, which received a rate of 5 percent. per year. The deposit has new funds for 3 months from April 16 this year. rate by 0.30 pp. lower than in the previous edition, and the semi -annual deposit is provided with a reduced interest rate by 1 pp.

Cuttings reaching 1 pp. You can also find in Nest bankwhich only spared the deposits available in PLN Nest Lokata Hello. For other deposits, wide cuts were carried out. The largest of them was covered by 18-month variants of Nest Loyal Look, Nest Lokata New Funds and all periods from 12 months “up” of the standard Nest Lokata. In their case, the current interest rate is lower by 1 pp. from the one that was in force before changing the table. Other cuts range from 0.25 to 0.85 pp.

Other banks proposed slightly lower discounts. Alior Bank He changed the interest rate primarily on the deposit to new funds, where the cuts ranged from 0.25 to 0.60 pp. This major change affected the six -month deposit period. The bank also introduced a reduction in the rate on a standard deposit for 12 months by 0.30 pp.

Bank Millennium He reduced the rates on deposits for new funds, Millenet deposit (longest dates) and mobile deposit. 0.70 pp. This is the biggest difference in minus And it applies to a deposit with a condition for paying new funds for 12 months.

Inbank He introduced a new interest rate after a slightly longer break, which was over a month and a half. In addition to the increase in the rate on the start to new customers by 0.70 pp., The bank also introduced reductions on a term deposit that has no such requirement. The changes are from 0.15 pp. up to 0.80 pp. The biggest nominal change to the detriment of customers applies to deposits for 24 months – from 5 to 4.20 percent. per year.

Increases on promotional offers

Despite the cuts, banks are still coming out with promotional offers. However, deposits covered by raised rates usually have additional restrictions and not everyone will be able to open them. This is the case, for example, in the case of the already mentioned deposit to start in Inbank, which from April 15 has an interest rate of 0.70 pp. higher, i.e. 5.75 percent per year. This is a proposal for those who have not yet used the bank's offer.

Alior Bank and Velobank also introduced completely new deposits for new customers. Alior Bank on the location for the start now gives 7 percent per year, like Velobank on the Velolokat for the active, about which we wrote in Bankier.pl last month.

Although these offers are covered by a relatively high interest rate, a small group of customers will benefit from them. What's more, this type of deposit can only be opened once. The exception to this rule are increases on Velolokat for days for deadlines not longer than 185 days. Their introduction, however, took place at the expense of the interest rate in force over longer periods of incidence.

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