Interest rates on term deposits at Estonian commercial banks have risen alongside Euribor and are expected to increase further, ERR reports.
According to Eesti Pank, the average term-deposit rate reached 2.1% in August, up from 2.05% in July and 1.97% a year earlier.
Rates on one-year deposits have climbed to around 2.5%.
Eesti Pank economist Taavi Raudsaar said banks are offering higher rates to attract deposits and finance lending, with further modest increases likely over the next two years as Euribor rises.
Deposit volumes have also grown, although most money remains in current accounts.
Read more: ERR.EE
