Croatian Postal Bank Raises Interest Rates on Savings to Three Percent

Croatian Postal Bank (HPB) has announced a significant increase in interest rates on savings. As they stated, following constructive discussions with the Ministry of Finance and the Croatian Government regarding the effects of inflation on citizens, as well as the expected impact of the announcement of the issuance of treasury bills by the Ministry of Finance on market interest rates, HPB, as an active participant in the money market, is the first bank in the domestic market to offer a new savings product through which clients can achieve a return of up to three percent.

– By simply contracting ‘HPB super savings’ through the most accessible sales network in Croatia, that is, in any of the 69 Bank centers starting from October 2, 2023, or subsequently through a thousand post offices during October, clients can enhance their funds through market interest rates ranging from 2.80 percent for a period of six months, 2.90 percent for a period of nine months, or 3.00 percent for a period of 12 months. The introduction of such a product will contribute to curbing inflation through the passive management of term deposits, while on the other hand, it will enable savers to achieve an attractive return that mitigates the negative effects of inflation on the value of money – stated HPB.

As the largest bank in domestic ownership with a relevant market share and the ambition to enter the ‘top 5’ banks by total assets in Croatia, Croatian Postal Bank has always held a special position in the market. As they state, the Bank has made significant strides in housing lending, where it is one of the leaders in providing loans with a fixed interest rate, and subsequently in strong participation in the APN program of subsidized housing loans, enabling young people in Croatia to resolve their housing issues in a more favorable manner.