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Which bank is better to open a deposit in 2024

Updated on 09.07.2024


A deposit in a bank is the most familiar, clear and simple way of obtaining additional income. If we want to get the most out of our own savings, we look for the most profitable offers and choose, first of all, the deposit. The bank, its reputation and stability are usually of much less interest to us. However, looking for an answer to the question - in which bank is it better to put a deposit in the 2024 war year, we are already paying attention not only to the deposit rates, but also more carefully evaluating the bank itself, because in the conditions of a full-scale war, you want to be sure that at least your the money is safe.

According to what criteria to choose which bank to open a deposit

Today, for every depositor, there are two main and most important factors when choosing a bank for a deposit - it is the profitability of the deposit and the reliability of the bank. Unfortunately, usually these two criteria are mutually exclusive, and you have to decide what is more important to you.

Finding a deposit with the highest rates is quite easy, but how to identify reliable banks? If you choose which bank to put a deposit in, from the point of view of reliability, then the easiest solution is to open a deposit in a foreign bank or in a systemically important bank. However, unfortunately, such banks traditionally offer a rather low return on deposits.

The difference between the yield on deposits offered by such banking institutions and the maximum yield on the market is quite significant. The fact is that large banks, thanks to their scale, huge customer base, extensive network of branches and ATMs, developed remote service system, do not need to actively attract customers, because customers keep money with them regardless of the levels of deposit rates. At the same time, smaller banks make significant efforts to attract and retain customers and to do so they try to offer them the best possible conditions.

The level of rates in the largest banks is best illustrated by the UIRD index, which shows the average level of deposit rates in twenty banks with the largest deposit portfolio of individuals. We compare the maximum return on deposits with the return offered by the twenty largest banks for similar deposit programs.

maximum return on deposits

As you can see, the difference in interest rates is 2,5-4,5%, which significantly affects the final yield for investors. In this regard, we are forced to look for more attractive options, so that both a reliable bank and a high rate. This is possible if you place a deposit in a small bank with foreign capital, where the reliability is the same, but the rates are significantly higher. In this article, we will consider the criteria by which you can determine which bank is the best place to deposit money.


About Agroprosperis Bank


What to pay attention to when choosing a reliable bank

Which bank to choose for a deposit. We identify reliable banks
Unfortunately, there is no single indicator that would guarantee the reliability of a bank, and in order to make the right decision, you need to comprehensively consider all available information. To determine which bank is the best to open a deposit, analyze the bank in which you are most interested in making a deposit according to the following indicators:

Actual owners of the bank

When determining which bank is the best place to deposit money, the first thing you need to know is who are the ultimate beneficiaries, that is, the owners of the chosen bank. Banks are obliged to disclose this information on their own website, and this data must also be posted on the website of the National Bank in the section "Ownership structures of banks". Having identified these persons, find information about their activities and reputation and draw conclusions for yourself whether you are ready to trust them with your savings.

Credit rating of the bank

This rating is assigned to banks by specialized rating agencies and is an indication of the bank's creditworthiness and reliability. At the same time, rating agencies analyze the bank's financial statements, regulations and performance indicators, on the basis of which they draw conclusions about the level of its solvency and sustainability. If you are choosing which bank to put a deposit in, then the level of credit rating and rating reports of agencies are one of the most truthful assessments of the bank's stability by specialists. Banks usually post information about the credit rating on their website, and the rating agency must also publish data on assigning, updating and changing the credit rating.

Compliance with legislation

The National Bank publishes on its website information on fines imposed on banks for non-compliance with legal requirements. These can be violations of payment discipline, violations in the field of anti-money laundering, unethical behavior when working with debtors, etc. Agree, a deposit in a bank that violates the law is not the best choice.

Implementation of ratios

There are a number of mandatory economic ratios established by the National Bank that regulate the activities of banking institutions. They show capital adequacy, liquidity and asset quality. However, first of all, these standards were established taking into account peacetime conditions, and during the period of martial law, the regulator canceled measures of influence for their violation. Therefore, if you are choosing in which bank it is better to open a deposit, and the bank that suits you has violated one of the regulations once, this does not mean that it should not be considered. However, if the bank cannot bring its activities to the established standards for a long time, then it is worth thinking before trusting it with money. Information on the main indicators of banks' activity and the level of standards is available on the NBU website in the "Supervisory Statistics" section.

Information about the bank on the Internet

Visit the official website of the bank, view its pages in social networks and on the main sites about banks, read publications about the bank in the mass media. Read what the bank writes about itself and its activities and check for recent publications. If you see regular news in which the bank informs about its achievements, about the launch of new products, promotions and other activities on the market, it means that the bank is working and developing.

Customer reviews

When choosing which bank is better to deposit money in, you should find out what its customers say about the bank. Especially if you still didn't know much about the bank in which you want to place a deposit. To do this, look at reviews about the financial institution on Google maps, on social networks and on the most popular sites about banks. Of course, all of us are more inclined to write negative reviews and take quality service as a given, so the real assessment of the bank and the level of its services will be a little higher.

Reliability ratings of banks

It seems that in order to decide in which bank it is best to open a deposit, you need to become a little bit of a banker yourself, because it is not so easy to understand all the peculiarities of banks' work and indicators of their stability.

In such a difficult matter, it is easier and more effective to trust market professionals who publish their analysis of the stability of Ukrainian banks and the reliability of bank deposits every quarter. Some ratings consider only systemically important banks and do not include information on smaller players. Among the ratings that consider the largest number of banks, the following can be distinguished:

  • Rating of stability of banks from the financial portal of the Ministry of Finance, which includes banks with a portfolio of individual deposits of UAH 1 billion, which as of the 1st quarter of 2024 is 34 banking institutions. The rating includes the calculation of such indicators as the bank's stress resistance, the loyalty of depositors and the assessment of the bank's reliability by a group of experts.
  • Financial scoring of Ukrainian banks by YouControl, which analyzes the first 40 banks by assets. Banks' financial reliability indices are calculated on the basis of 25 indicators that reflect the bank's liquidity, capital adequacy, profitability, credit, currency and investment risks.


A deposit at Agroprosperis Bank is reliable and profitable

At Agroprosperis Bank, depositors receive a high return on deposits combined with their high reliability. Agroprosperis Bank is a bank with 100% foreign capital of the USA and Europe, whose investor NCH Capital has been managing long-term investments in the amount of more than 3 billion dollars for 30 years. USA in 10 countries around the world.

The bank regularly confirms the credit rating at the investment level of uaAA, which characterizes very high creditworthiness, and constantly complies with all regulatory regulations and legal requirements.

According to the results of 2023, the bank's assets increased 1.5 times to UAH 4 billion, and the volume of deposits of individuals in the bank increased by 53% to UAH 1.1 billion.

In 2024, Agroprosperis Bank won the "Best Deposit" nomination of the prestigious FinAwards 2024 award from the Ministry of Finance and Finance.ua portals, in 2022 and 2023 the bank was recognized as a leader in the reliability of savings for individuals at the Bank of the Year competition from the International Financial Club "Bankir".

So, if you are choosing which bank is better to open a deposit, Agroprosperis Bank is a smart decision.

Read more about whether it is profitable to place a deposit now and how to choose a deposit program in our articles How to choose a deposit? and Is it profitable to open a deposit in 2024.


Choose a deposit

Oleksandra Topol Head of marketing

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