Piraeus Bank: Increases the basic deposit rate from Monday

Piraeus Bank is making changes to deposit interest rates, as well as commission charges for electronic transactions.

According to a relevant announcement, following the recent increases in interest rates by the European Central Bank, it is adjusting, from Monday 19.12.2022, the interest rates of its basic deposit product, Term Deposit “Sta Metra Sou-Tailor Made”, offering an interest rate of up to 1% for a duration 12 months old.

The “Tailor Made” Term Deposit  is available both online at WinBank and through the Bank‘s network of branches. It is a form of term deposit that gives depositors the opportunity to choose its characteristics themselves (amount, duration, interest frequency, etc.), and thus adjust it according to their needs.

In addition, the Bank, given the inflationary pressures burdening disposable income, is proceeding to reduce or even eliminate costs in a number of Basic Banking Services and Payment Transactions, in order to support its customers to have lower costs when managing transactions and of their obligations.

Free services

In comparison, from now on a series of services will be offered free of charge, such as:

• The IRIS P2P service, for transferring money from a Piraeus customer account to a beneficiary account in another domestic bank, including Piraeus.

• The evaluation of mortgage requests

• The market for Greek government bonds.

Reductions in commissions

Also, the Bank will proceed with significant commission reductions of 25-50% in its invoices and in a series of other services such as:

• Bill payment (utilities, mobile phone, etc.) at the Bank Branch.

• Credit card subscription

• Standing orders for payment of bills

• Sending money (transfer) to banks outside the Eurozone from a Bank Branch

The above reductions will take effect from Friday 23.12.2022.