Compare Fixed-Rate Deposits in Bulgaria

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What is a fixed deposit in Bulgaria?

A fixed deposit (срочен депозит) is a savings agreement where you lock a sum of Bulgarian lev (BGN) or euro with a bank for a set term — typically one, three, six or twelve months — in exchange for an agreed interest rate. Unlike a current or savings account, the money cannot normally be touched before maturity without losing accrued interest. For Bulgarian savers the appeal is certainty: the rate and the payout date are fixed at the outset, which suits households setting aside a lump sum they will not need in the short term.

How the Bulgarian market works

Deposit-taking is licensed and supervised by the Bulgarian National Bank (BNB), which sets prudential rules for the banking sector. The lev is held under a currency board arrangement, pegged at 1.95583 to the euro, and euro adoption is planned — meaning deposit rates broadly track euro-area conditions rather than moving independently. After years of near-zero returns, term-deposit rates have edged up in line with wider European rates, though Bulgarian retail deposit rates remain modest compared with some markets.

Benefits

Predictable return — the rate is agreed upfront and does not change during the term, so you know the exact payout.

Capital protection — your principal is not exposed to market swings, unlike investment funds.

Deposit guarantee — eligible deposits are protected up to 196,000 BGN (the lev equivalent of €100,000) per depositor per bank.

Discipline — locking funds away removes the temptation to spend before your goal date.

How to choose

Compare the annual interest rate across terms, but also check how interest is paid — at maturity, monthly, or capitalised — and whether the rate is higher for online applications. Confirm the minimum opening amount, any auto-renewal terms, and the penalty for early withdrawal. If euro adoption is on the horizon, note whether a deposit is held in lev or euro and how conversion would be handled. Loyalty or bundle rates sometimes apply if you also hold a salary account.

Leading providers in Bulgaria

DSK Bank (part of Hungary's OTP Group) and UniCredit Bulbank are the two largest banks and offer a full range of term deposits. First Investment Bank (Fibank) is a prominent Bulgarian-owned lender, while Postbank (Eurobank Bulgaria), Central Cooperative Bank and Municipal Bank round out the field. Allianz Bank Bulgaria pairs deposits with the wider Allianz group relationship. All are BNB-supervised and covered by the national deposit guarantee scheme.

What it costs

Opening a fixed deposit is normally free, and there is no ongoing fee while the money is locked. The cost you bear is opportunity cost and any early-withdrawal penalty, which usually means forfeiting some or all interest if you break the term. Minimum opening amounts are commonly a few hundred to a few thousand lev. Interest income for individuals may be subject to a flat withholding tax under Bulgarian rules, so the headline rate is not always the net return.

Protections and regulation

Banks are authorised and supervised by the BNB. Eligible deposits are covered by the Bulgarian Deposit Insurance Fund up to 196,000 BGN / €100,000 per depositor per bank, with higher temporary cover in limited cases such as proceeds from a property sale. Because the guarantee is per bank, spreading large sums across institutions can keep more of your savings inside the protected limit.

Common questions

Can I withdraw early? Usually yes, but you typically lose accrued interest and may pay a penalty, so treat the term as a genuine commitment.

Is the interest taxed? Interest for individuals can be subject to a flat withholding tax; check the current rate and whether it is deducted at source.

What happens at maturity? The deposit either pays out to your account or auto-renews at the prevailing rate — confirm which, so it does not roll over unexpectedly.

Fixed-Rate Deposits in Bulgaria — FAQ