If you want your money available at any time and want slightly better interest rates, you should shop around German banks. Some financial institutions in the neighboring country are currently offering slightly higher interest rates for book money, according to price comparisons on the internet. The better offers usually only apply to new customers.
Half a dozen institutes in the neighboring country offer three percent or more interest. These include Volkswagen Bank, Barclays and ING. The high interest rates are guaranteed for several months and the offer is usually only valid for newly paid contributions or new customers.
In Austria, Santander Consumer Bank, Renault Bank and BAWAG offer 2.5 percent interest on an investment of 10,000 euros. The portal durchblicker.at has revealed this. However, this interest is only guaranteed for a few months in this country. The rate then drops to a variable value, which is currently 1.9 percent, 1.8 percent and 0.01 percent (BAWAG). As in Germany, the offer is usually only valid for amounts paid in June and for new customers. According to the comparison portal, BAWAG currently offers a limited interest rate of up to three percent for large amounts of more than 150,000 euros.
Hardly higher interest rates on bonding
At 2.35 percent, the Dadat account for new customers also passed the two percent mark. By the way, tying up the money hardly entails higher interest rates. According to durchblicker.at, Austrian banks offer up to 3.25 percent interest for term deposits with a three-year commitment. In Germany, this term applies at least up to 3.75 percent interest.
Inflation in the neighboring country is currently lower than in Austria. In May it was 6.1 percent, while in Austria it was 8.7 percent. As far as inflation is concerned, it should be taken into account that in real terms the invested money loses three (Germany) to six percent in value per year. In both countries, deposits are guaranteed by the state up to a certain limit.
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.
