As interest rates have risen, Finnish households have transferred their funds to deposit accounts with higher interest rates. During 2023, households transferred their funds 7.3 billion euros to time accounts and slightly more than 2 billion euros to investment deposit accounts.
However, the overall household deposit stock, EUR 108.7 billion, shrank by more than EUR 3 billion during 2023, as the funds in overnight deposit accounts decreased by EUR 12.4 billion during the same period. Despite the decrease, the majority, 65 percent, of household deposits are still in overnight deposit accounts, including current accounts. At the end of 2023, 70.6 billion euros of household deposits were overnight deposits, 10.9 billion euros were time deposits and 27.2 billion euros were investment deposits.
Households had 40.3 billion euros in listed Finnish shares and 34.1 billion euros in domestic funds. As interest rates have risen, the interest rate differences between different deposit accounts have grown. The figures appear in the announcement of the Bank of Finland.