Slovenia’s NLB bank to increase deposit rates to stimulate long-term savings

By bne IntelliNews August 24, 2023

Slovenia’s largest bank NLB said on August 24 that it decided to raise deposit interest rates starting from September 1 to encourage customers to consider longer-term maturities.

According to unofficial sources reported by STA on August 24, NLB Bank's move to increase deposit interest rates might set a trend in motion, prompting other financial institutions to follow suit. The banking sector in Slovenia has faced criticism for maintaining low deposit interest rates while loan interest rates continue to rise.

One of the offerings that NLB provides is its fixed interest rates for deposits with maturities exceeding one year. Ranging between 2% and 2.5% per annum, these rates position NLB's offerings at the centre of those comparable across European banks, NLB said in a statement.

Another product is NLB Investment Pair which offers a blend of deposit services and investment opportunities through NLB Skladi mutual funds or Vita life insurance.

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