Ukrainians Set New Record Low for Time Deposits Amid War

Ukraine's Deposit Market as of July 2026: A Snapshot

According to ХВИЛЯ: Ukraine's deposit market in July 2026 reveals a paradox: while household savings have grown, the share of term deposits has dropped to an all-time low. According to the Deposit Guarantee Fund, Ukrainians' savings increased by UAH 133 billion (8.2%) since the start of the year, reaching over UAH 1.75 trillion held by private clients in banks as of July 1, 2026. This shift reflects how the ongoing war is reshaping financial priorities, with liquidity now valued more than long-term yield.

The deposit market is currently in a summer lull. In the two weeks leading up to July 22, 2026, no bank with a retail deposit portfolio under UAH 2 billion adjusted its offerings for depositors. This indicates market stability, even as the share of individual term deposits fell to just 32.6% of all household funds in banks.

Key Statistics and Expert Commentary

Ukraine has 73.6 million depositors. Among them, those with deposits exceeding UAH 600,000 make up only 0.68% of all clients, yet they hold 53% of all deposits. About 35% of Ukrainians' savings are kept in foreign currency. Currently, the most popular deposits are those with terms of one to three months, accounting for 11% of the total deposit amount (UAH 198.1 billion). Deposits with terms over one year represent just 0.7%, or UAH 11.8 billion.

“The country is at war, and liquidity today is more valuable than profitability. In other words, people need money here and now.”

Andriy Shevchyshyn, Financial Analyst

Dmytro Zamotayev, Director of Retail Business at Globus Bank, adds that banks are waiting for signals from the National Bank of Ukraine on a potential key policy rate review before making any major changes, as they have limited tools to shift the current trend.

Smaller banks are setting a new trend: the longer the deposit term, the higher the interest rate. The highest rates for one-year hryvnia deposits are offered by:

• Altbank (16.75%)
• Asvio Bank (16.60%)
• Bizbank (16.45%)

For three-month deposits, the top rates are from:

• Yunex Bank (17.00%)
• Kristalbank (16.75%)
• Asvio Bank (16.25%)

Yulia Zabolotna, Head of the Bank Financial Analysis Department at the Deposit Guarantee Fund, reports that Ukrainians are psychologically ready to lock in their funds for up to three months, confirming the popularity of such deposits.

The rise in household savings, coupled with the decline in term deposits, suggests a shift in financial priorities among Ukrainians amid the war. Many depositors appear to favor short-term deposits to maintain liquidity, which is crucial in unstable conditions. In response, banks are offering higher rates on long-term deposits, potentially encouraging more stable financial planning. This trend also underscores the importance of the National Bank of Ukraine's monetary policy in shaping the deposit market and promoting savings.