The first banks and savings banks pay investors interest again | Free press

The announcement by the European Central Bank that it would raise the main interest rate in July triggered a movement in the market. But is it worth saving now?


Even before the European Central Bank (ECB) implements the first interest rate hike from March 2016 on July 21, savers can again receive interest on their money. According to a study by the financial portal “”, it seems that the interest rate return has also reached the savings banks. According to a current study by Biallo, approximately 45 percent of all savings banks currently pay interest on fixed deposits.

The ECB recently announced it would raise its key interest rate by 0.25 basis points in July to combat high inflation in Germany. It also increases pressure on banks and savings banks to adjust their interest rates.

Due to the negative interest rates charged by the central bank, banks have in the past been forced to charge clients with custody fees and negative interest rates on overnight and overnight accounts, especially for larger deposit amounts. In many cases, term deposits were no longer offered. Background: The ECB charges a negative interest rate of minus 0.5 percent on short-term funds deposited with the central bank, which many banks in turn pass on to their clients.

With the announcement of an interest rate return, banks are starting to cut their negative interest rates again. For example, the online bank ING Germany has increased its negative interest limit from € 50,000 to € 500,000 since July 1. Volksbank Chemnitz also wants to react after the interest rate hike. “If the European Central Bank implements the announced interest rate hike, we will transfer this adjustment to our clients and from August 1, 2022, we will completely refrain from collecting trust fees,” explained Gunnar Bertram, board member of Volksbank Chemnitz. .

Even if there are now offers of term deposits, it remains doubtful whether such an investment is profitable for savers due to the rising interest rates. Because, according to the Biallo study, savings banks want to motivate their clients to make long-term investments. Nationwide, only 27 out of approximately 370 savings unions make a specific offer of an annual term deposit.

Investors cannot benefit from interest rate increases during the term of the term deposit agreement as the interest rate is fixed throughout the investment period. Stadtsparkasse Augsburg pays the highest interest rate on a one-year permanent savings bank deposit of 0.65 percent. With inflation above 7 percent, this is still very little. Klarna Bank even pays a little extra for a six-month period.

this “Investing in times of crisis” it is also the subject of an on-line expert discussion “Freie Presse” on Wednesday from 18:00

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