Rising deposit rates in the wake of high inflation
Banking and mortgage lending, interests
The average annual interest rate on Danish private customers' deposits was 0.69 per cent in March 2023. This is an increase of 0.86 percentage points compared to a year ago and the highest interest rate level since 2015. Even though the interest rates are positive again, private customers will experience that the value of their savings in the bank is eroded due to the high inflation. The increase in consumer prices (inflation) was calculated at 6.7 per cent for March 2023.