Hryvnia Deposits in 2026: Which Interest Rates Can Beat Inflation and Currency Depreciation?.

Hryvnia Savings Accounts in Ukraine

According to Мінфін — Крипто/Фінанси: Even in the second half of 2026, hryvnia-denominated deposits are expected to remain a go-to option for safeguarding money, but savers must weigh inflation, the dollar exchange rate, and the deposit term. According to Dmytro Zamotayev, Director of Retail Business at Globus Bank, a hryvnia deposit is a straightforward, easy-to-understand, and reasonably profitable savings tool.

Interest Rates and Key Influences

Average annual yields on hryvnia deposits in Ukraine range from 13% to 14.5%, while the most competitive offers on the market can reach 16% to 17.5% per year. However, a critical factor for depositors remains the annual inflation rate, which must stay below 10% to 12% for deposits to retain their appeal. The dollar exchange rate also plays a role:

• For short-term deposits of 3 to 6 months, the critical exchange rate is around UAH 47 per dollar,
• For longer-term deposits of 9 to 12 months, the attractiveness threshold is roughly UAH 49 to 50 per dollar.

In Zamotayev's view, a deposit is beneficial for the saver only if, after taxes, the return covers both price increases and potential currency fluctuations. — Dmytro Zamotayev

No 'deposit race' is anticipated in the second half of 2026, as the hryvnia deposit market is expected to remain in a state of moderate stability through the autumn of 2026. Consequently, keeping funds in hryvnia deposits will continue to be a key strategy for many savers in Ukraine.

The popularity of hryvnia deposits reflects Ukrainians' efforts to protect their savings amid economic uncertainty. The relevance of this instrument will be shaped not only by interest rates but also by the broader economic climate, including inflation and currency swings, making deposit selection a crucial financial decision for the public. Sustained stability in the deposit market could also strengthen trust in the banking system and promote greater financial literacy among citizens.