Deposit and savings products in Greece

Greek banks pay very little on deposits — sight and savings accounts are often near-zero, term deposits only modestly more — and interest is taxed at 15%. Government T-bills and bonds are an alternative. The rule: judge any deposit on its net-of-tax rate against inflation, because a low nominal rate can lose money in real terms.

The everyday options

Sight / current account (όψεως) — for liquidity, not yield; pays roughly nothing. Covered by the €100,000 deposit guarantee.
Savings account (ταμιευτηρίου) — instant access, low interest (often well under 1%).
Term / fixed deposit (προθεσμιακή κατάθεση) — locked for a period, pays more than sight, varying by term, amount and bank. Always check the net-of-15%-tax rate.

Government debt — a higher-yield alternative

Greek T-bills (έντοκα γραμμάτια) — short-term government debt, tracking market rates; bought via banks or brokers; interest taxed at 15%.
Greek government bonds (ομόλογα) — longer-term, at the market yield, via a broker.

The “don’t get cheated” point on deposits

Greek deposit rates stayed low even as the ECB raised rates — banks were slow to pass increases through. So always compare the net rate after the 15% interest tax against inflation: a nominally “positive” rate can still be a real-terms loss. For idle euro cash, some brokers and neobanks have paid more on uninvested balances than Greek savings accounts — worth checking before parking cash at near-zero.

Interest tax

deposit and bond interest is taxed at 15%, usually withheld by the bank. (Corporate bonds bought by residents can carry a lower 5% rate.) See investment tax.

Foreigner lens

a deposit or savings account needs a Greek bank account, which needs an AFM. Neobank “savings” (Revolut, Wise, Trade Republic) can bridge the gap, but mind the protection difference — an EMI is safeguarded, not deposit-guaranteed.

How not to get cheated

don’t assume a term deposit “beats inflation” — do the math after the 15% tax. And don’t chase a slightly higher rate into an unprotected product; for a guaranteed balance, a deposit at a licensed bank (covered to €100,000) is the protected option.

saving & investing overview · investment tax · deposit guarantee · brokerage access

This is general information, not investment or tax advice. Rates vary by bank and change — confirm on the bank’s tariff page. WTP Finance is informational only.

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