Cyprus ranks among the lowest in the eurozone for deposit interest rates, offering returns well below the European average for both households and businesses.
Household deposits
The eurozone average rate for household fixed-term deposits of up to one year stands at 1.87%. Cyprus offers 1.20%, the third lowest in the eurozone. Only Greece, at 1.13%, and Slovenia, at 0.75%, rank lower.
At the top of the table, the Netherlands offers the highest household rate at 2.42%, followed closely by Finland at 2.39% and Italy at 2.25%. Above the eurozone average are Belgium and Spain, both at 1.78%, Austria and Ireland at 1.75%, Luxembourg at 1.58%, and Portugal at 1.44%.
Business deposits
The picture is similarly unfavourable for businesses. The eurozone average for business deposits stands at 1.98%, while Cyprus offers 1.23% — the second lowest in the eurozone. Only Bulgaria, at 1.18%, ranks lower.
France leads for business deposit rates at 2.17%, followed by Italy at 2.11%, Slovakia at 2.02% and Malta at 1.99%. Just below the eurozone average are Germany at 1.97%, Finland and the Netherlands at 1.96%, Spain, Luxembourg and Austria at 1.90%, Latvia at 1.87%, Croatia at 1.84%, Portugal at 1.83%, Belgium at 1.80%, Greece at 1.76%, Ireland at 1.64% and Slovenia at 1.58%.
Rates on a downward trend
Deposit rates across the eurozone have been falling compared to previous years, a trend that applies to Cyprus as well.
According to the European Central Bank, the rate on new household fixed-term deposits of up to one year rose five basis points in April to 1.87% — but the longer trajectory is downward: the rate stood at 1.99% a year ago and at 3.11% in April 2024.
The rate on three-month notice deposits held steady at 1.17% in April, while overnight household deposit rates were unchanged at 0.26%.
For businesses, the rate on new fixed-term deposits of up to one year was broadly unchanged at 1.98% in April 2026, down from 2.16% a year earlier and 3.65% in April 2024. Overnight business deposit rates were nearly stable at 0.53%, compared with 0.60% in April 2025.