Low interest rates: Many savings banks in East Germany pay hardly any return
Many savers in East Germany currently have to settle for very low interest rates on their savings. A recent analysis by the comparison portal Verivox shows that numerous regional banks and savings banks are offering their customers significantly lower interest rates on call money accounts than the market average.
The study highlights a sharp disparity in terms and conditions. While many supra-regional banks and direct banks have adjusted their interest rates to the general interest rate level in recent months, many local institutions remain cautious with their offers. For customers, this means that their money in a call money account hardly gains any value.
Experts therefore advise savers to compare the offers of different banks carefully. Smaller institutions or online banks often offer significantly more attractive interest rates than the local bank. Switching providers can be financially worthwhile for consumers to maximize the returns on their savings.
The situation is particularly relevant for people who want to invest their money securely and flexibly. Since inflation reduces the purchasing power of money, a reasonable interest rate is important to maintain the value of assets in the long term. Consumer advocates therefore recommend regularly checking whether the current account still meets one's own financial goals.