Overnight money: interest rates are back – economy

Of

Felicitas Wilke

There was one thing you could reliably adjust to with overnight money accounts in German banks for years: there was a zero before the decimal point, and then there was often a zero as well. Anyone who wanted to park their savings safely and available at any time received an interest rate that was hardly worth mentioning. Some banks even charged negative interest on higher amounts. After the end of the zero interest rate policy, the first institutes slowly raised their interest rates to more than one percent. But now the German subsidiary of the Dutch company ING is making an offer to savers that the competition can see as a declaration of war: from now on, new customers there will receive an interest rate of two percent on their money.

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