In February, the state and banks continue the “struggle” for Romanians’ money. If profits are taxed in banks, the tax does not apply to the proposal of the Ministry of Finance (Treasury). In addition, banks also have fees, but some offer a higher interest rate.

*Subscription for February 2023 starts on Friday

Let’s say a person wants to save 2000 lei, money that he knows he won’t touch for 1, 2 or 3 years.

*BNR estimates inflation at 9.8% at the end of the first quarter of 2024, but we clarify that the forecast will be changed by the institution in the coming days, so you should not rely too much on it.

*We did not use compound interest

*Data on bank offers are taken from the finzoom.ro platform

How much will you earn if you put your money in a bank and in the state for a year

The best offers in banks are interest rates from 7.75 to 9.3% per annum. This means that after commission and income tax, you have a profit of 139 – 167 lei.

In Tezaur, which has an interest rate of 7.2% for 1 year, the profit will be 144 lei.

Therefore, in this case, some banks offer better.

2 years, during which you do not touch 2000 lei

For 2-year offers, banks offer interest rates from 7.75 to 9%/year. Thus, after two years, the profit is 279 – 324 lei.

The state offers an interest rate of 7.5%, which would mean a profit of 300 lei (150 lei/year).

Savings for 3 years

For 3 years, banks have interest rates of 7.25 – 8.5%/year, which means earnings of 393 – 459 lei. Of course, this is after commissions and income tax.

Instead, Tezaur has an interest rate of 8%/year, which means a profit of 480 lei (160 lei/year).

Good or bad offers, we still can’t say, as we don’t have the new inflation forecast from the BNR (due next week) to give us some idea, although the institution hasn’t come close to estimating the real cost in a few years.

Otherwise, for those looking for higher returns, there are mutual funds (of various types), stocks and bonds on the exchange, but don’t do it unless you’ve studied the subject and know how the markets work. In addition, on BVB you can also find Fidelis government bonds from previous years at various prices, both in lei and euros.