Savings account or fixed-term deposit
Updated
In short (16 October 2026): The highest savings account rate is 3.00%: Ferratum (Multitude Bank) (Savings account; note: no Finnish branch, withdrawal terms not stated); the highest 12-month fixed-term deposit is 3.30%: Hypo (Suomen AsuntoHypoPankki) (minimum €10,000). The withdrawal terms of savings accounts vary by bank, and a fixed-term deposit ties up the money.
Contents
On a savings account the interest rate can change and the money can usually be withdrawn, but the withdrawal terms vary: on some accounts withdrawals are limited or cost money, and some banks do not state their withdrawal terms. On a fixed-term deposit the rate is fixed for the whole term, but the money is tied up. If you need the money at any time, choose a savings account and check its withdrawal terms. If you know you will not need the money during the term, a fixed-term deposit often gives a better rate.
| Savings account | 12 months fixed-term deposit | |
|---|---|---|
| Provider | Ferratum (Multitude Bank) | Hypo (Suomen AsuntoHypoPankki) |
| Rate | 3.00% | 3.30% |
| Rate stays the same | not available | fixed for 12 months |
| Withdrawing the money | withdrawal terms not stated | Not stated on the product page. |
| Minimum | not available | €10,000 |
| Notes |
How do the products differ?
- Interest: a savings account rate is most often variable and can fall or rise. A fixed-term deposit rate is locked on the day you deposit.
- Withdrawals: you can withdraw from a savings account, often with limits or fees. Depending on the bank's terms, early withdrawal from a fixed-term deposit is not allowed, costs money or means losing the interest.
- Amount: fixed-term deposits often have a minimum and a maximum amount.
- Rate on an account and on a deposit: at many banks the fixed-term deposit rate depends on the term and the amount, and it is visible only in the online bank.
Early withdrawal from a fixed-term deposit
The terms vary by bank, and it is worth reading them before you deposit.
| Provider | Rate | Early withdrawal |
|---|---|---|
| S-Bank | not published | The product page does not say anything about early withdrawal; see the account terms. |
| OP | 3.10% | No withdrawals or extra deposits during the deposit period. |
| Nordea | 2.25% | Withdrawals at any time without a fee, but interest is paid only on the lowest balance of the period; at least €500 must remain on the account. If the account is closed during a period, no interest is paid for the current period. |
| Nordea | not published | If you withdraw during the deposit period, the bank charges a break cost: a fixed €30 (accounts opened from 18 May 2018) and a possible refinancing cost. |
| Danske Bank | not published | The deposit is tied for a fixed period and cannot be cancelled. |
| Säästöpankki | 3.117% | The product page does not say anything about early withdrawal; the general break cost of a fixed-term deposit in Optia's price list is €50. |
| POP Bank | not published | Not stated on the product page or in Suomen Osuuspankki's price list. |
| Oma Säästöpankki | not published | Not stated on the product page or in the price list. |
| Aktia | not published | Not published. |
| Ålandsbanken | not published | If the deposit was opened at a branch, the money can be withdrawn early against a fee of 3% (of the deposit amount). |
| Alisa Pankki | 2.80% | Breaking the deposit before the due date costs 3% of the deposit principal. |
| bunq | 2.11% | As for 3 months: 1% per remaining year, the interest is lost. |
| Svea Bank | 2.80% | Withdrawals possible at any time: a fee of 2.5% of the withdrawn amount, at least €30; unlimited withdrawals. |
| Resurs Bank | 2.35% | According to Raisin's general guidance, money generally cannot be withdrawn from a fixed-term deposit during the deposit period. |
| Klarna | 2.95% | Klarna's page does not say anything about early withdrawal. |
| Hypo (Suomen AsuntoHypoPankki) | 3.30% | Not stated on the product page. |
| Bigbank | 3.25% | Not stated on the product page; see Bigbank's contract terms. |
| Saldo Bank | not published | The deposit cannot be withdrawn during the deposit period (according to the page). |
| Brocc | 3.25% | Withdrawal fee of 2.5% of the withdrawn amount if the withdrawal is made before the end of the commitment period. |
What affects deposit rates?
Deposit rates follow market rates. The rate on Euribor-linked accounts changes with the reference rate.
The ECB deposit facility rate is 2.50% from 16 September 2026 (previously 2.25% from 17 June 2026). The 12-month Euribor was 3.217% and the 3-month Euribor 2.636% on 15 October 2026. Sources: EKP: ohjauskorot (retrieved 16 October 2026); Suomen Pankki: Euribor-korot (retrieved 16 October 2026).
Highest rates now
| Provider | Account | Rate | Notes |
|---|---|---|---|
| Ferratum (Multitude Bank) | Savings account | 3.00% | |
| Instabank | High-interest savings account | 2.70% | |
| Collector (Norion Bank) | Collector savings account | 2.65% | |
| Bank Norwegian | Savings account 31 | 2.55% | |
| Bigbank | Savings account | 2.50% | |
| Nordax Bank | Nordax Tuottotili (yield account) | 2.40% | |
| Nordax Bank | Nordax savings account | 2.35% | |
| Instabank | Savings account | 2.30% |
The table is an abridged version. The full sortable comparison and the calculator: savings rates comparison. Tiered accounts whose stated rate applies only to the top tier are not included.
| Term | Rate | Provider | Notes |
|---|---|---|---|
| 1 month | 2.25% | Bigbank (minimum €1,000) | |
| 3 months | 3.20% | Brocc | |
| 6 months | 3.25% | Brocc | |
| 9 months | 3.15% | Hypo (Suomen AsuntoHypoPankki) (minimum €10,000) | |
| 12 months | 3.30% | Hypo (Suomen AsuntoHypoPankki) (minimum €10,000) | |
| 18 months | 3.30% | Brocc | |
| 24 months | 3.40% | Bigbank (minimum €1,000) | |
| 36 months | 3.40% | Alisa Pankki (minimum €500), Ferratum (Multitude Bank), Brocc | |
| 48 months | 3.45% | Brocc | |
| 60 months | 3.50% | Brocc |
Campaign rates are not included. The full sortable comparison: fixed-term deposit comparison.
For the full comparison, where you can sort the tables and calculate the return, see deposit rates and the fixed-term deposit comparison. Also remember deposit guarantee and tax on savings deposits.
If you are thinking about investing instead of depositing, remember the difference: deposits are covered by deposit guarantee, investments are not, and the value of investments can fall. Pankkitutka does not give investment advice, but you can compare costs on the investing page and read the guide investing for beginners.
Related guides
Frequently asked questions
Savings account or fixed-term deposit, which is better?
In October 2026 the highest savings account rate is 3.00%: Ferratum (Multitude Bank) (Savings account; note: no Finnish branch, withdrawal terms not stated) and the highest 12-month fixed-term deposit rate is 3.30%: Hypo (Suomen AsuntoHypoPankki) (minimum €10,000). The rate of a fixed-term deposit is fixed for the whole term, but the money is tied up. The rate of a savings account can change, and the withdrawal terms vary: on some accounts withdrawals are restricted, and some banks do not state the withdrawal terms. The choice depends on whether you need the money during the term.
What is the best fixed-term deposit?
In October 2026 the highest rates by term: 1 month 2.25% (Bigbank), 3 months 3.20% (Brocc), 6 months 3.25% (Brocc), 9 months 3.15% (Hypo (Suomen AsuntoHypoPankki)), 12 months 3.30% (Hypo (Suomen AsuntoHypoPankki)), 18 months 3.30% (Brocc), 24 months 3.40% (Bigbank), 36 months 3.40% (Alisa Pankki, Ferratum (Multitude Bank) and Brocc), 48 months 3.45% (Brocc) and 60 months 3.50% (Brocc).
What affects deposit rates?
Deposit rates follow market rates. The ECB deposit facility rate is 2.50% from 16 September 2026 (previously 2.25% from 17 June 2026), and the 12-month Euribor was 3.217% and the 3-month Euribor 2.636% on 15 October 2026.
Can I add money to a fixed-term deposit during the term?
Usually not. At OP, for example, you cannot deposit more or withdraw during the deposit term. Check the terms with the bank.