Hungarian Banks Compete with High Fixed Deposit Rates

Hungarian banks are currently offering attractive interest rates on fixed-term deposits, with several institutions providing options that exceed 8%. Trive Bank's eBetét Kamatbónusz offers a 8% interest rate and 8% EBKM for deposits made within 30 days of opening an account, requiring a minimum deposit of 100,000 forints and subsequent renewable deposits for terms of 3, 6, or 12 months. This offer is also available for existing customers through their standard eBetét product, with no need to open a separate current account and no fees for the deposit account.

MagNet Bank's Prizma product provides a 6.32% interest rate (6.25% EBKM) for 3-month deposits, exclusively for new funds and requiring an existing or newly opened MagNet account. Longer terms of 6 and 12 months are available at 5.5% and 5.01% respectively. Gránit Bank's HozamPáros deposit offers an 8% annual interest rate (also 8% EBKM) for 3-month terms, but requires depositing new funds into a Gránit account and purchasing investment funds of equal value. Their KamatMax deposit offers 6% for 6 months, conditioned on monthly purchases of at least 20,000 forints using a linked Gránit bank card. For a 12-month term, Gránit's Felemelő product yields 4.45% without a minimum spending requirement on the associated bank card.

Cofidis Bank offers a 6% interest rate for a 12-month term on its fixed deposit, with no conditions beyond the deposit itself, and 5% for a 6-month term. This includes free monthly account management. Among the larger banks, OTP provides 5.75% for 6 months on new funds deposited into an OTP Bázis account with a Premium Next service. MBH Bank's promotional 3-month deposit offers a 7.25% annual interest rate (7.25% EBKM) for new funds transferred from another bank's corporate/entrepreneurial account or via cash deposit within 31 days, available only at bank branches. Their 12-month promotional deposit offers 5.2%.