The average hryvnia deposit in Ukraine pays 13.88% for three months and 14.09% for twelve months, according to the UIRD deposit index on 16 October 2026. After the 23% tax on interest, a 12-month deposit leaves 10.85%, which beats September inflation of 10.0% by less than one percentage point. The best offers from smaller banks reach 17.15–17.50%, while government bonds maturing in September 2027 sold on 13 October at 15.09%, with no tax.
This page is updated every month. The slug stays the same; the date and the numbers change.
In short
- Average rate: UIRD 14.09% for 12 months and 14.49% for six months; dollar deposits 1.13%.
- Largest banks: monobank pays 16.00% for a year, PUMB 15.00% (17.00% for six months), PrivatBank and Oschadbank 13.00%.
- Best offers: Unex Bank 17.50% and Bizbank 17.15% for 12 months.
- Tax: 18% personal income tax plus 5% military levy, 23% in total. OVDP interest is tax-free.
- Guarantee: 100% of deposits during martial law and for three months after it ends, then UAH 600,000 per depositor per bank.
- NBU: the key rate is 16%; the next decision is on 29 October.
Deposit rates as of 17 October 2026
The UIRD index is calculated by Thomson Reuters with a method agreed with the National Bank. It uses the rates of 20 leading banks on a "classic" deposit: a new depositor, no top-ups, interest paid at the end, UAH 100,000 or $10,000.
| Term | Hryvnia, % a year | Dollar, % a year | Hryvnia after 23% tax |
|---|---|---|---|
| 3 months | 13.88 | 0.85 | 10.69 |
| 6 months | 14.49 | 0.91 | 11.16 |
| 9 months | 14.75 | 0.99 | 11.36 |
| 12 months | 14.09 | 1.13 | 10.85 |
Source: Minfin, UIRD index on 16 October 2026.
Hryvnia deposits: what rate banks pay
Individual banks diverge far more than the index suggests. Minfin's fortnightly reviews show maximum non-social rates:
| Bank | 3 months | 6 months | 12 months | Dollar, 12 months |
|---|---|---|---|---|
| Unex Bank | 17.20 | 17.25 | 17.50 | 1.00 |
| Bizbank | 16.95 | 17.25 | 17.15 | 2.50 |
| monobank | 15.50 | 15.70 | 16.00 | 1.70 |
| abank | 15.10 | 15.80 | 15.90 | 0.10 |
| PUMB | 16.00 | 17.00 | 15.00 | 1.00 |
| PrivatBank | 2.50 | 10.00 | 13.00 | 0.01 |
| Oschadbank | — | 13.00 | 13.00 | 0.40 |
| Sense Bank | 11.50 | 12.00 | 12.00 | 1.50 |
| Ukrgasbank | 14.00 | 15.00 | 12.00 | 0.75 |
| Raiffeisen Bank | 12.00 | 6.50 | 6.50 | 0.01 |
Sources: Minfin reviews of 7 October (large banks, rates for 22 September–5 October) and 14 October (small banks, 29 September–12 October); monobank rates re-checked on monobank.ua on 17 October. In dollars the top 12-month offers are 2.55% at Asvio Bank and 2.50% at Taskombank and Bizbank.
The spread is unusually wide. On three-month deposits Minfin found 17.2% at Unex Bank and 7.1% at Policombank. PUMB raised its six-month rate by 4 percentage points to 17% in early October, while Raiffeisen pays 12% for three months but only 6.5% for a year.
Deposit index history over 12 months
| Date | UAH 3 months | UAH 6 months | UAH 12 months | USD 12 months | NBU key rate |
|---|---|---|---|---|---|
| 31 Oct 2025 | 13.32 | 13.85 | 13.71 | 1.21 | 15.5 |
| 28 Nov 2025 | 13.41 | 13.90 | 13.77 | 1.21 | 15.5 |
| 31 Dec 2025 | 13.41 | 13.92 | 13.77 | 1.18 | 15.5 |
| 30 Jan 2026 | 13.48 | 13.98 | 13.83 | 1.19 | 15.0 |
| 27 Feb 2026 | 13.38 | 13.85 | 13.73 | 1.18 | 15.0 |
| 31 Mar 2026 | 13.38 | 13.84 | 13.71 | 1.15 | 15.0 |
| 30 Apr 2026 | 13.61 | 14.07 | 13.93 | 1.15 | 15.0 |
| 29 May 2026 | 13.69 | 14.07 | 13.93 | 1.14 | 15.0 |
| 30 Jun 2026 | 13.74 | 14.13 | 14.08 | 1.14 | 15.0 |
| 31 Jul 2026 | 13.49 | 13.98 | 14.00 | 1.14 | 15.5 |
| 31 Aug 2026 | 13.72 | 14.30 | 14.07 | 1.14 | 15.5 |
| 30 Sep 2026 | 13.78 | 14.21 | 13.99 | 1.13 | 16.0 |
| 16 Oct 2026 | 13.88 | 14.49 | 14.09 | 1.13 | 16.0 |
Sources: Minfin UIRD monthly archive; NBU key rate history via Minfin. All figures are % a year.
Over a year the 12-month index added only 0.38 percentage points, even though the National Bank cut the rate in January and then raised it twice, to 15.5% on 31 July and to 16% on 18 September. Dollar rates drifted down from 1.21% to 1.13%.
What moves deposit rates, and the forecasts
Three forces set the price of a deposit:
- The NBU and its certificates. Banks park spare liquidity in NBU deposit certificates. The National Bank now caps the amount: at the 2 October tender it set a limit of UAH 25 billion, rejected 13 of 76 bids and placed the rest at a weighted average of 19.08%, up from 18.24% and 18.81% in September.
- A bank's own need for money. Banks that lend actively pay more; those with spare liquidity do not follow the regulator. Serhiy Novoshytskyi of Pivdennyi bank told Minfin that the incentive depends on "the internal need of a particular bank for the resource".
- Inflation. September CPI rose 2.1% in a month and 10.0% year on year, with core inflation at 8.8%, the State Statistics Service reported on 9 October.
| Source | Date | Key rate | Inflation |
|---|---|---|---|
| NBU, updated forecast | 30 Jul 2026 | 16% to Q1 2027, cuts from Q2 2027 to 14% in Q4 2027 | 10.0% Dec 2026, 6.9% Dec 2027 |
| NBU Monetary Policy Committee | 16 Sep 2026 | Most members: no change in coming months, cautious easing in 2027; two: the October forecast may raise the path | — |
| ICU macro review | 14 Oct 2026 | 16.5% in October, held to mid-2027, 15.5% at end-2027 | 12.0% Dec 2026, 8.2% Dec 2027 |
If the NBU holds, deposit rates are likely to stay near today's levels into 2027. A hike to 16.5% would add competition among banks that need funding, not across the board. The exchange-rate side is covered in the dollar exchange rate forecast for Ukraine.
Deposit or OVDP: real return after tax
Real return is (1 + net yield) / (1 + inflation) − 1, with inflation at 10.0%:
| Instrument | Nominal | Net | Real |
|---|---|---|---|
| Average 3-month deposit (UIRD) | 13.88 | 10.69 | +0.6 |
| Average 12-month deposit (UIRD) | 14.09 | 10.85 | +0.8 |
| PrivatBank, Oschadbank, 12 months | 13.00 | 10.01 | 0.0 |
| monobank, 12 months | 16.00 | 12.32 | +2.1 |
| Unex Bank, 12 months | 17.50 | 13.48 | +3.2 |
| OVDP to September 2027, 13 Oct auction | 15.09 | 15.09 | +4.6 |
| OVDP to March 2029, 13 Oct auction | 16.45 | 16.45 | +5.9 |
All figures are % a year. On UAH 100,000 a 12-month deposit at 14.09% earns UAH 14,090 of interest, of which UAH 3,240.70 goes in tax and UAH 10,849.30 stays with the depositor.
Government bonds win on tax and on the guarantor, the state budget, but they are not covered by the Deposit Guarantee Fund and selling before maturity happens at the market price. Individuals held a record UAH 167.5 billion of OVDP on 1 October, according to the Ministry of Finance. They are sold through banks, brokers and the Diia app.
What a saver can do
- Short money, three to six months: the six-month UIRD rate of 14.49% is above the 12-month rate. Several banks pay their best rate for six months.
- A year or longer: compare a 12-month deposit at 16–17.5% with an OVDP maturing in September 2027 at 15.09%. Net of tax, the bond is ahead of most deposits except the top few.
- Split large sums. The 100% guarantee is temporary. Once it ends, the limit is UAH 600,000 per bank, so amounts above that are safer split across banks.
- Dollars as insurance, not income. A 12-month dollar deposit pays 1.13%, 0.87% after tax. For it to beat a hryvnia deposit at 14.09%, the dollar would have to gain about 9.9% in a year.
In analyst Ruslan Averin's view, after-tax deposit returns above inflation have shrunk to about one percentage point on average, so the choice of bank and term now matters more than the headline index.
Are deposits in Ukrainian banks guaranteed?
Yes. During martial law and for three months after it ends, the Deposit Guarantee Fund covers 100% of deposits of individuals, including sole proprietors, with accrued interest. After that the maximum compensation is UAH 600,000 per depositor per bank.
How much tax is paid on deposit interest?
23%: 18% personal income tax and 5% military levy, withheld by the bank when interest is paid. The depositor does not file anything. Interest and redemption income on OVDP is exempt from both.
Hryvnia or dollar deposit?
Over the past 12 months the 12-month hryvnia index stayed at 13.7–14.1% while dollar rates fell to 1.13%. A dollar deposit makes sense only as protection against a sharper devaluation. Our analysts' break-even comparison is in where to hold savings at UAH 44.76.
Related: September inflation and what it means for deposits and OVDP, the NBU decision of 17 September, deposit versus OVDP after tax, OVDP yield versus inflation and record retail OVDP holdings.