Statistical news focuses on the latest figures and trends in Danmarks Nationalbank’s statistics. Statistical news is targeted at people who want quick insight into current financial data.
Increasing interest in time-bound deposits
The private customers' deposits with a time commitment have been increasing since the summer of 2022. In 2023, the time-bound deposits have grown by kr. 57 billion to kr. 159 billion. This corresponds to 16.2 per cent of private customers' total interest-bearing deposits of kr. 981 billion. The trend is observed in the light of the interest rates on new time-bound deposits during the same period have increased significantly more than the average interest rate on deposits without time commitments. Private customers' incentive to lock their deposits for a specific period has thus increased, and the higher interest rates also make time-bound deposits a more attractive alternative to investing money in, for example, investment funds. At the end of 2023, the average interest rate is 1.19 per cent on private customers' total deposits without time commitments, while the interest rate on private customers' new time-bound deposits created in December 2023 averaged around 3 per cent.
Private customers are increasing the share of time-bound deposits
Note:
Time-bound deposits are defined as the sum of 'deposits with agreed maturity notice excl. pooling schemes' and 'deposits redeemable at notice excl. pooling schemes’. Interest-bearing deposits represent the total deposits excl. pooling schemes. Private customers consist of employees, pensioners, etc., in Denmark (sector 1430).