Danish Deposit Rates Rise Amidst High Inflation, but Savings Still Eroded.

The average annual interest rate on Danish private customers’ deposits has risen to 0.69% in March 2023, marking an increase of 0.86% compared to a year ago and the highest level since 2015. However, despite the positive interest rates, the high inflation rate of 6.7% in March 2023 means that the value of savings in the bank is eroded for private customers.