PickTheBank lifts Cyprus euro deposit rates above 3% with Lidion Bank

PickTheBank.eu has raised selected EUR fixed-term deposit rates in partnership with Malta-based Lidion Bank, pushing medium- and long-term euro returns above 3% p.a. The new rates apply to Cypriot customers and include 3.02% on 18-month deposits and 3.08% on terms from two to five years.

Why it matters: - The new pricing gives Cyprus-based savers access to euro deposit rates above 3% p.a. at a time when deposit income remains a key draw for cash holders. - The offer spans terms from three months to five years, giving customers more flexibility on maturity length while locking in higher long-term returns. - Deposits are held in the customer’s name and covered by the Maltese Deposit Guarantee Scheme, subject to its terms and the statutory limit of EUR 100,000 per depositor per bank.

What happened: - PickTheBank.eu announced updated EUR fixed-term deposit rates offered with Lidion Bank. - The change affects new EUR fixed-term deposits available through the platform for eligible customers in Cyprus. - Long-term EUR rates increased from 2.75% to 3.08% p.a., a 12% jump. - The 18-month rate now stands at 3.02% p.a. - The 2-year rate rose from 2.60% to 3.08% p.a., an increase of about 18.5%. - Customers can complete onboarding and submit deposit applications online through PickTheBank.eu. - After approval, customers transfer funds directly to Lidion Bank. - PickTheBank does not hold or intermediate customer funds.

The details: - The updated EUR schedule is: 3 months at 2.20% p.a., 6 months at 2.50% p.a., 9 months at 2.60% p.a., 12 months at 2.75% p.a., 18 months at 3.02% p.a., and 2, 3, 4 and 5 years at 3.08% p.a. - Compared with the prior schedule, 6-month and 12-month rates were cut, while 18-month and longer maturities were raised. - USD and GBP rates remain unchanged, reaching up to 3.8% p.a. and 3.35% p.a., respectively. - PickTheBank describes its platform as a Cyprus-based European savings service that lets eligible customers apply for fixed-term deposits with licensed partner banks and manage deposits through the web and mobile app. - Lidion Bank plc is a Malta-based credit institution licensed and supervised by the Malta Financial Services Authority. - Lidion Bank offers banking, financing, cash management, treasury and multi-currency services, with a focus on businesses in technology and digital industries. - Lidion Bank also serves retail depositors with PickTheBank’s assistance. - More information is available in PickTheBank’s announcement. - More information is available in Lidion Bank details.

Between the lines: - The rate increase appears aimed at making the platform more competitive for savers seeking higher-yield euro deposits without moving outside regulated banking. - The structure keeps the customer relationship with the bank, which can reduce custody risk for the platform while preserving the digital onboarding experience. - The largest gains are concentrated in medium- and long-term maturities, suggesting a push to attract stickier deposits rather than short-term money.

What's next: - Customers will be able to choose among the revised maturity options through PickTheBank.eu. - The offer remains subject to the terms of Lidion Bank and the relevant deposit guarantee protections. - Future changes to USD and GBP pricing were not disclosed.

The bottom line: - PickTheBank and Lidion Bank have pushed Cyprus euro deposit rates above 3% p.a., with the biggest gains in 18-month to 5-year terms.