The latest data from the Bank of Albania shows that Albanians continue to favor keeping savings in long-term deposits. The majority of citizens keep their money in deposits with a term of over 2 years, considering this a safe form of investment, especially for future uses, such as children's education, health expenses, buying a house or starting a business.
Long-term deposits also offer higher interest rates, increasing the return on savings held for longer periods. According to official statistics, individuals hold deposits in lek for over 2 years with a total value of 167.4 billion lek, followed by one-year deposits with 124.7 billion lek and those up to 2 years with 49.5 billion lek.
On the other hand, when analyzing monthly changes, 2-year deposits recorded the largest increase during October, with an increase of almost 3.7% compared to September. In second place are one-month deposits, with an increase of 1.5%, while demand deposits recorded an increase of 1.2%. One-year deposits seem to be the least favorite, as they recorded a minimal increase of only 0.1% in October.
However, although deposits remain the main form of investment for Albanians, other alternatives currently exist, including investments in government securities, cryptocurrencies, and other financial instruments.
