were able to breathe a sigh of relief On the day exactly ten years ago, 30,000 German savers: they received the promise, that they would receive in the case of the Bust Icelandic Bank Kaupthing invested money back. Learned of the domestic interest rate, hunters from this adventure?
in fact, many Germans still shy away from always on the capital market the market like the plague. You can Park your Savings prefer to on a fixed Deposit account, because the safe will appear. According to the survey, around 16 percent of domestic savers have invested money in this way. Money remains just as popular as mutual funds, and more popular than investments in shares. Interest rates you have to search for such plants, however, with the magnifying glass - if you don't be negative, so savers are the banks even have money to pay for their accounts.
Red percent sign with Minzsvorzeichen
the fact is that the zero interest rate policy of the European Central Bank has taken the German 2018 as hard as never before: almost 39 billion euros have lost the domestic savers through low-interest money deposits in the last Year – 470 euros per citizen, so the calculation of the comdirect Bank. This can be explained by the fact that the real interest rate is lower than Inflation.Higher interest rates of foreign banks '
Many savers are therefore looking for their salvation in foreign banks. On comparison sites such as world savings, FMH or interest pilot can easily Investment products with interest rates of up to 1.5 per cent on fixed Deposit accounts.
In the evaluation of the rate of interest most fixed-term Deposit offers of the Frankfurt financial advice FMH, the Lithuanian Bank Siauliu Bankas will appear on the first place. It provides for an investment of 10,000 euros with an investment period of three years with an annual interest rate of 1.5 percent. Comparable yields of 1.45 to 1.47 per cent, banks from Portugal or Croatia. Really attractive, these offers don't appear, but they mean just compensation for inflation.
In the case of shorter investment horizons such as a year, the interest rate is still low and hardly exceeds the-percent mark. And such offers are only available at banks from Romania, Estonia or Bulgaria. In the case of German money houses a such an interest could not be reached.So sure as in Germany?
But how sure systems are in these countries? In Germany, the legal protection of deposits savings deposits protects in the event of a Bank failure up to an amount of 100,000 euros. Many German banks are member in a voluntary Deposit insurance system the Deposit insurance Fund of the Federal Association of Public banks in Germany. In this case, one speaks of the extended Deposit guarantee.
Other countries in the EU have established in the past years, also statutory Deposit guarantee schemes. However, these are not always as safe as the German variant. For one simple reason: The States to ensure Bank customers, Bank failure losses. You do not have in case of emergency, but the necessary resources to be able to promise to redeem.
In some countries, you can't be a hundred percent sure, in case of an emergency to actually get the money back, in spite of Deposit insurance, stresses the FMH-chief Max the autumn. Also Niels Neuhauser, financial expert at the Verbraucherzentrale Baden-Württemberg, is skeptical. A Bank get into trouble and not enough money in the Deposit insurance system, had to show whether there is enough political will, in case of emergency with tax money. "There is a residual risk remains".country credit rating
pay attention to the better assessment of the risks, it helps to look at the credit rating of the country in which a Bank is domiciled. Croatia has about a statutory Deposit guarantee scheme up to 100,000 euros. However, the country of the Agency Moody's is a rating only with the touch of Ba2. This means that it is a speculative investment. In the case of a deterioration of the situation would be likely to default. In clear text this means: investors with a total loss threatens, in the worst case.
In Croatia is just one example of Many. Also in Estonia, Romania or Bulgaria, the risk of loss for money savers because of the deterioration in the creditworthiness of these countries is higher than in Germany. To compensate for this Bank's customers get more interest.financial experts warn
the Alpha Bank Romania offers a fixed investment of 10,000 Euro over twelve months an annual interest rate of 1.25 percent. Although this country has a statutory Deposit protection scheme for plants up to 100,000 euros. However, Romania will, in the case of a Bank failure, the compensation actually pay?
warns The rating Agency Moody's, however, that there is likely to be a deterioration in the overall economy with problems. Many financial experts advise German savers to Park money in countries that have no Topbonität.Kaupthing learned nothing?
learn the German interest-hunters from the past, so there's nothing? As a reminder: In October 2008, at the height of the financial crisis, saw many German savers a shock: they were not at their money that they had invested with the Icelandic Bank Kaupthing Edge. The German financial Supervisory authority, the accounts of the German Kaupthing subsidiary frozen. The Institute was not a member of the Deposit protection Fund of German banks. It was in this country with aggressive interest rate offered to customers. Only on 17. April 2009-ten years ago, were able to breathe a sigh of relief, the German savers: Iceland's former Prime Minister, Johanna Sigurdardottir, announced that Kaupthing Bank will have enough assets to German savers their money, the 308 million euros, to pay off.source: boerse.ard.de to blow before the next thrust? Tele Columbus, with a new fantasy Juventus share price collapsing