Since 2019, savers have been confronted with an unpleasant topic: More and more banks are charging negative interest rates. An expert reveals what you can do now.
- More and more banks are charging negative interest rates .
- Currently, wealthy customers are mainly affected.
- Meanwhile, average savers are also occasionally experiencing the effects.
In late summer 2019, news spread that should have sent an ice-cold shiver down the back of many savers: Since September 16, banks have had to pay 0.5 percent penalty interest on their deposits with the European Central Bank (ECB) . But what does that have to do with normal savers? Quite simply: The penalty interest is felt by bank customers in the form of negative interest , which is usually due on the account at a very high amount.
It mainly affects people with a balance of more than 100,000 euros - but this limit has also moved further down at some institutes. An expert reveals how you can still invest your money profitably in this unfortunate situation.
More and more banks are charging negative interest rates
The negative interest trend is currently passing unnoticed by a large number of regular savers. However, the development of the past few months shows that not everyone will get off lightly in the future. Oliver Maier , Managing Director of Verivox Finanzvergleich GmbH, speaks of a fourfold increase in the number of banks that have been charging negative interest rates * since September 16, 2019. Specifically, customers should be affected by at least 61 banks and savings banks . It can be assumed that this number will continue to increase.
Maier goes even further: "Not all banks publish negative interest rates in their price notices. Some instead make individual agreements with their wealthy customers . In fact, well over 61 banks are likely to charge negative interest rates." At ten banks, customers who have a credit balance of less than EUR 100,000 are said to be affected. Six institutes, on the other hand, charge fees for a overnight deposit account , while two banks charge negative interest regardless of the amount invested .
Incidentally, existing customers have an advantage over new customers : with them, banks have to clarify whether negative interest rates will be charged - at least that is still the case, Maier reveals.
Also read : Expert: These bank fees are so crazy - you can just as easily throw away your money.
So you can invest your money profitably
The expert expressly points out that zero and negative interest rates are still not completely inevitable at the moment: "Although the average overnight rate of return on a total investment of 10,000 euros is just slightly above the zero line at 0.03 percent, top providers still pay 0 , 35 percent. If you can invest your money permanently for two years, you get 1.1 percent interest at the top. "
Another way to secure higher returns is to invest in stocks. A step that is often too delicate for many, but Maier has a reassuring piece of advice here too: "Those who have invested in the standard values of the DAX and have held their shares for at least 15 years have never had to accept losses and have been able to average more than five percent return per year. "
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* Merkur.de is part of the nationwide Ippen-Digital editors network.
