Those who have to pay off variable loans groan. Those who have money lying around can rejoice: finally there is considerable interest again. And not only on long-term deposits, but also on overnight money. We show you what to look out for, where there are lucrative offers and why you can negotiate with your bank.
Since July 2022, something has been going on after years of falling without rising. The European Central Bank’s (ECB) key interest rate has been at 3.5 percent since its last increase on March 22 this year – and the trend is upward. The problem with this: the reversal in interest rates hasn’t yet reached many lowly savers, whose banks feed them with micro or zero interest rates. But less established banks are now luring with tempting offers. There is a maximum of 3.2 percent for a saver with a commitment of up to 36 months. The overnight allowance is a maximum of two percent.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
