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Deposits vary
THE European Central Bank hiked interest rates but the yield on deposits varies throughout the eurozone.
With a twoyear fixed deposit account paying an averaging 0.69 per cent compared with the eurozone’s 1.20 per cent average, statistics office Eurostat found Spain trailing its neighbours by an average 73 per cent.
The difference over longer periods widened to 86 per cent, with Spain averaging 0.97 per cent compared to Eurozone’s 1.81.
Italy and the Netherlands pay most on a 24month fixed deposit account, averaging 1.8 per cent, followed by Estonia (1.73 per cent) and Finland (1.63 per cent). At the other end, Cyprus pays 0.11 per cent, followed by Greece (0.20 per cent) and Portugal (0.35 per cent).
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