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Fix higher interest rates quickly now

Due to the ECB's interest rate cuts, the conditions for savings deposits are also on the decline.(Bild: Pressefoto Scharinger © Daniel Scharinger)

The European Central Bank (ECB) has already cut its key interest rate twice this year. This is not good news for small savers, as the conditions for savings products have also deteriorated as a result. The "Krone" has taken a look at what is currently on offer. Conclusion: action is called for.

Savers have been looking through their fingers for a decade. The last two years have seen an upward trend - albeit with high inflation. Recently, however, inflation has been falling and the ECB has heralded a turnaround in interest rates. What pleases house builders is not good news for savers. If the key interest rate falls, savings interest rates will also fall.

This makes it all the more important for anyone who has not yet secured better conditions to act quickly now. After all, there is a lot of money at stake. Private households have almost 310 billion euros in deposits with banks. Almost two thirds of these are untied and therefore earn little or no interest.