The volume of deposits in Ukraine is growing, but there is a tendency for interest rates to decrease. This opinion was expressed in an exclusive commentary to UNN by Oleksandr Parashchiy, Head of Analytical Department at Concorde Capital Investment Company.
The volume of deposits is growing, and so are term deposits, which pay this interest (11-12% for hryvnia deposits - ed.) and, in principle, deposits are card account balances, which hardly earn any interest... Deposits are more likely to be made to state-owned banks, primarily because state-owned banks are more interested in attracting deposits. They are more active in lending to the economy than private banks, especially those with foreign capital,
According to him, deposit rates for households remain relatively stable, but there is a downward trend as the NBU is lowering its interest rate.
"But there has been no significant decline so far, with interest rates averaging around 11-12% (on deposits - ed.) in hryvnia," Parashchiy said.
He added that interest on foreign currency deposits is hardly growing. According to the expert, this is due to the fact that interest rates on deposits, for example, in dollars are such that it is not possible to earn money on them. At the same time, Parashchiy noted that there has been a slight increase in foreign currency savings in banks, but it is not related to deposits. Hryvnia deposits, he said, offer much more interesting conditions, even with the expected devaluation.
In addition, according to the expert, there is also a demand for loans in Ukraine.
Of course, there is demand for loans, and the loan portfolio is growing. At the same time, there is no such trend that loans are not being repaid. In other words, the quality of the loans issued is generally good, and borrowers comply with most of the terms and conditions,
He added that the average loan rate for households is around 30-35%.
Recall
Olena Sosedka , co-founder of Ukraine's first fintech ecosystem Concord Fintech Solutions, shared her tips on choosing a reliable bank for deposits, calculating passive income from deposits, and taking into account factors such as interest rates, deposit terms, taxes, and currency fluctuations to preserve and grow savings in the face of economic instability.
In addition, the expert explained what to look for to protect yourself from losing money. Among other things, the expert advises to always count on the worst-case scenario when obtaining a loan. In particular, you should assess your own ability to repay the loan in the event of a decrease in income or unforeseen expenses. To learn what else to look for when taking out a loan, read at.