Attracted term deposits higher than last year

The new fixed-term deposits attracted this February amounted to 2.234.5 billion lei, a 17.4% increase compared with last February. Deposits in national currency represented 64.2%, while deposits attracted in foreign currency – 34.6%, IPN, quoting the National Bank of Moldova.

The amount of attracted national currency deposits totaled 1.462 billion lei (-2.6% on a month before and +25.7% compared with February 2020). Foreign currency deposits reconverted to MDL came to 772.5 million lei (-3.1% on a month before and + 4.4% on February 2020).
Deposits attracted in February were dominated by private individuals’ deposits that constituted 79.4% (50.8% in national currency and 28.6% in foreign currency).

The most attractive offers, in terms of lifecycle, were the deposits with the term of 6 to 12 months (29% of all attracted term deposits).

The average rate on new deposits in national currency was 3.81%, up 0.37 percentage points, while on deposits in foreign currency was 0.60%, remaining at the same level.

Legal entities placed deposits in national currency with an average interest rate of 2.92%, natural persons practicing an activity - 2.94%, while private individuals - 4.08%.
As regards the deposits in foreign currency, legal entities placed deposits whose average interest rate was 0.85%, natural persons practicing an activity – 0.50%, while private individuals – 0.55%.

Compared with February 2020, the average interest rate on deposits attracted in national currency decreased, as did the rate on deposits in foreign currency. The deposits in national currency with a term of 6 to 12 months, which dominated, were attracted at an average interest rate  of 3.73% (deposits of legal entities, with an average rate of 3.08%, deposits of natural persons practicing an activity – 3.75%, while deposits of private individuals – 3.83%.)

In the case of deposits in foreign currency, the most attractive ones were those with a term of 2 to 5 years placed with a rate of 0.85% (legal entities placed with a rate of 1.24%, while private individuals with a rate of 0.71%).

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