The online banks already offer more than two percent for deposits that can be withdrawn at any time. But the top conditions are often only available for a limited time or from a certain amount.
Thanks to the rise in policy rates in the Eurozone, internet banks are currently outperforming each other with good offers on savings interest – and that also applies to deposits that can be withdrawn daily. But beware: with top conditions there is almost always a catch that savers should be aware of:
…Minimum deposit amounts: According to the AK bank calculator, VKB Bank currently offers the best interest rates at 3.19%. To get this, however, there must be at least € 50,000 in the online savings account. After all, VKB also offers a high 2.79% from € 15,000.
…lure offers: Providers such as DADAT or Anadi lure new customers with interest rates of 2.6 or 2.5%. However, these conditions only apply to campaign periods, for example for six or even three months. After that, interest rates go down.
…Deposit Protection: In the event of problems at RCI Banque, it is not the Austrian but the French deposit insurance that applies.
AK consumer lawyer Christian Prantner demands: “Stop the overnight savings interest!” And also in the longer term, so that savers do not have to look for new offers every few months. The major bank branches, where withdrawable deposits are currently almost interest-free at all times, should again offer better conditions.
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.
