Who has the cheapest loan rates?
Which of our credit products are the right ones for you and which provider offers really favorable conditions is shown in extensive comparisons by our editors. Save time and money with the credit comparison: favorable interest rates & immediate payout! The refinancing conditions for Greece and Portugal are favorable. The cheaper interest rate financially relieves the borrower. more in favor of customers and banks.
Interest rates on deposit and call money – These banks are the cheapest – the economy
Despite major variations in terms and conditions, most consumers are reluctant to switch and are connected to their provider for a very long time. The financial and overnight interest rates of the individual banks were analyzed by the financial market expert Udo Kessler from the beginning of the low-interest phase due to the escalating financial market crisis in 2008 until 2015.
He also compared interest rates for each individual month and identified which financial institutions have long had more favorable conditions than the average. “They exist: Institutions that offer their customers both day money and overdraft facilities on fair terms over the years of low interest rates,” says Kebner.
It looked at the six major supranational institutions, eight direct banks and eight savings and eight cooperative banks from all federal states. “Kebner refers to an interest rate as” fair “if it is equal to or better than the respective average value, which amounts to 10.89 percentage points for the sale over the period under consideration.The long-term average interest rate for overnight money (investment amount 2000 euros) was 1.03% ,
Nearly every third lending institution was above average for both rates, including direct banks such as Directome, Consorsbank and 1822 direct. Particularly viable was the VW-Bank in the “Fairness Check”, because she was not only the only institution in all 87 test months above-average conditions for Dispositions- and Tagesgeld offered, but also in the long-term average.
DAB Bank was the most attractive overdraft rate with an average of 7.16 percentage points. On the other hand, savers and private banks were sometimes much stronger in payout than their competitors, often claiming more than twelve. Postbank and Sparda Bank Berlin remained behind.
The difference between the cheapest and the most expensive disposition is enormous with 5.55 percentage points – and expensive for many consumers. At the top was the bank with overnight deposits, which are hardly subject to significant interest rates at the major banks and ski banks with an average interest rate of 1.46%. In addition, it put the traditionally leading direct banking institutions in this sector on the squares and paid about four and a half times the interest rate of the losers of the tests with 0.31 and 0.32%, respectively.
For daily allowances Kessler only expected conditions for existing customers, while interest rates for new customers were not taken into account, since they are valid in practice only for a few calendar months. Striking: The DAB Bank, test winner in current account credit, with a overnight rate of 0.83 percentage points below the market. By contrast, the Bank, as the most lucrative financial institution for overnight money, was one of the most expensive institutions for Despo.
This is not uncommon according to Cessler; he emphasized that financial institutions in one category need to co-finance particularly interesting offers with less favorable conditions than others. In the long-term funds for disposition and daily allowance Directome was the most attractive address, which was among the top three places.