Compare Fixed-Rate Deposits in Luxembourg
Live offers across tracked providers in Luxembourg — updated daily from the Giraffy database.
Live offers
- BCEE Bon de Caisse LU
- Monese Fixed LU
- Raiffeisen LU Dépôt Terme
- BIL Dépôt à Terme 1an LU
- Raiffeisen LU Dépôt à Terme
What are Fixed Deposits in Luxembourg?
A fixed deposit (term deposit) in Luxembourg is a savings product where you lock a sum of money for a set period — from a few months to several years — in return for a guaranteed interest rate. Unlike an instant-access savings account, the money is committed for the term, and in exchange you typically earn a higher, fixed return. Fixed deposits suit savers who do not need immediate access and want certainty of return, offered by domestic banks and pan-European deposit platforms.
How the Luxembourg market works
Term deposits are offered by the main banks — Spuerkeess (BCEE), BGL BNP Paribas, BIL, ING Luxembourg and Raiffeisen — and by consumer-focused lenders such as Advanzia. Deposit marketplaces like Raisin aggregate fixed-term offers from banks across the EU, letting Luxembourg savers access competitive rates from other member states through one platform. Rates track ECB policy and the chosen term: longer lock-ins usually pay more. Interest is fixed at outset and paid at maturity or periodically, and early withdrawal is often restricted or penalised.
Benefits
Guaranteed return — The rate is fixed at the start, so you know exactly what you will earn.
Higher rates — Committing the money for a term typically pays more than instant-access savings.
No volatility — Unlike investments, the capital does not fluctuate in value.
Planning certainty — Ideal for money earmarked for a known future date.
How to choose
Match the term to when you will need the money, since early access is usually restricted. Compare the interest rate for each term and how interest is paid, and check the minimum deposit. On deposit platforms, confirm which country's guarantee scheme covers the bank and keep balances within €100,000 per bank. Consider whether to ladder several deposits across different maturities to balance rate and access.
Leading providers in Luxembourg
Spuerkeess (BCEE), BGL BNP Paribas, BIL, ING Luxembourg and Raiffeisen offer term deposits with the reassurance of a local bank, while Advanzia provides competitive consumer deposits. Raisin acts as a marketplace, giving access to fixed-term rates from banks across the EU through a single account. Domestic banks suit those wanting everything in one place; platforms suit savers chasing the best rate across borders.
What it costs
Fixed deposits have no direct fee, and the relevant figure is the interest earned. Rates in the market broadly range from around 2.5% up to about 4.2%, depending on the term length, deposit size and prevailing ECB conditions, with longer terms generally paying more. The main cost to consider is opportunity cost and any penalty or loss of interest if you break the deposit before maturity.
Protections and regulation
Banks are authorised and supervised by the CSSF, and eligible deposits are protected by the Fonds de Garantie des Dépôts Luxembourg (FGDL) up to €100,000 per depositor, per bank. Deposits placed through a platform with a bank in another EU state are covered by that country's scheme up to the equivalent €100,000, so spread larger sums across institutions to stay within the guarantee.
Common questions
Can I access my money before maturity? Usually not without a penalty or loss of interest; term deposits are designed to be held to maturity.
Are cross-border platform deposits safe? They are covered by the host bank's national guarantee scheme up to €100,000; keep balances within the limit per bank.
Is the interest taxed? Interest is generally taxable for residents and should be declared; check the applicable withholding rules.
Should I ladder my deposits? Splitting money across several maturities balances access with rate, letting part of your savings mature regularly.
What is the minimum deposit? Minimums vary by bank and platform, so check the entry threshold and how interest is paid before committing funds.
Fixed-Rate Deposits in Luxembourg — FAQ
What is the best fixed deposit rate in Luxembourg right now?
Giraffy tracks 5 fixed-rate deposit accounts across Spuerkeess BCEE,Monese Luxembourg,Raiffeisen Luxembourg,BIL Luxembourg banks in Luxembourg. Sort by highest rate and compare term lengths to see which account suits your timeline.
What is a fixed-rate deposit and how does it work?
A fixed-rate deposit (also called a fixed-term bond or term deposit) locks your money away for a set period — typically 3 months to 5 years — in exchange for a guaranteed interest rate. You agree the rate upfront, so rising or falling market rates don't change your return.
Are fixed deposits safe?
Yes — AGDL protects up to €100,000 per person, per bank. Fixed deposits at CSSF-regulated institutions are typically among the lowest-risk savings options available. Rates are guaranteed; your principal and interest are protected up to the scheme limit.
Can I withdraw money early from a fixed deposit?
Most fixed deposits penalise early withdrawal — typically forfeiting 30–180 days of interest, depending on the institution and term length. Some accounts don't allow withdrawal at all before maturity. Check the early-exit penalty before locking in a large sum.
What is the difference between a fixed deposit and an easy-access savings account?
Fixed deposits pay a higher rate in exchange for locking your money away for a defined term. Easy-access accounts let you withdraw any time but pay a lower variable rate. If you have a cash lump sum you won't need for 6–24 months, a fixed deposit typically earns more.
What happens at the end of a fixed deposit term?
At maturity, most banks automatically roll your deposit into a new term at the prevailing rate — which may be higher or lower than your original deal. Set a diary reminder to review and re-compare rates before auto-renewal if you want to ensure you get the best rate available.
How are fixed deposit rates set in Luxembourg?
Fixed deposit rates are closely linked to the central bank's benchmark rate. When the CSSF (Commission de Surveillance du Secteur Financier) raises rates, banks tend to offer higher deposit returns — and vice versa. Comparing regularly helps you catch rate rises before banks reduce their offers.