More and more banks and savings banks are announcing the introduction of negative interest rates on account balances. It is also increasingly affecting small savers.

less allowances And higher criminal sentence* Feather call money or current account: According to comparison portal VeriVox, credit institutions are increasingly hardening existing institutions Negative interest rates for private customers. This was reported by the German Press Agency (DPA). At the same time, there is an increasing number of banks and savings banks charging so-called custodial fees. VeriVox counted 392 institutions at the end of the third quarter (as of September 29). 214 financial institutions have been added since the beginning of the year.

Negative interest from 5,000 euros

for a long time, a custody fee payable. According to the assessment, at least 135 institutions are now charging negative interest per customer with total credit of 50,000 euros or less, as the DPA writes. in some institutions will already be 5,000 Euros or less with negative interest payableYes. Most savings banks and banks will base the amount of custodial fees on an interest of 0.5 percent, which they must pay on part of their additional deposits with the European Central Bank (ECB). “13 institutions, however, charge the credit balances of their private customers with a penalty of 0.55 to 1 per cent interest,” the DPA report also said.

NS negativezinsen meet the top New Customer. If a bank wishes to demand custody fee from existing customers, it should be agreed individually with the parties concerned. According to the DPA, the Association of German Consumer Organizations (vzbv) considers negative interest rates on current and overnight accounts of consumers as fundamentally unacceptable – whether they are new or existing customers.

Stiftung Warrentest: A Potential Option for Small Savers

There are still banks that offer a marginal increase in interest rates for savings, hence the reference to the Stiftung Warntest. “Negative interest on loan” current and call money account savers can survive,” it continued test.d. “Above all, foreign banks offer overnight money accounts, with which customers get a small amount of interest for the funds available on a daily basis. Many of the offers can only be accessed through interest portals such as Check24, WeltSphere or Zinspilot.”

Read also: Free Current Accounts: You Can Benefit From These Banks – Even As A New Customer

sparvillesAccording to experts at Stiftung Warentest, those who want to invest their money solely in German banks can do so in Ford Money, BMW Bank, Mercedes Bank and Volkswagen Bank. “So far, these banks have not charged any penal interest,” the article said. test.d From 10 August. “Ford Money, an online brand of the German Ford Bank, also has a small interest rate of 0.05 percent for credits on overnight money.” Savers can also choose which banks pay the highest interest for overnight money. make comparisons test.d according to your reference. According to the information, this comparison “currently has 61 offers and is updated every 14 days”.

Also interesting: Paid too high account fees? get your money back now

The trend towards negative interest rates does not seem to end. consumer portal Biallo.de According to the DPA, last time around 490 institutions came which charge negative interest on private properties (till August 27).

Many savers nowadays do not rely on interest investments, but instead, for example ETF Savings Plans. (ahu) * Merkur.de is an offer ippn.media.

List of rubrics lists: © Andrea Warnke / DPA (Symbol Images)