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What to do with the money

What to do with the money

Bank interest rates are rising. It is uncertain how long this situation will last or how far it will go up. The consumer advocates of the Upper Austrian Chamber of Labor (AKOÖ) advise those who want to invest money to find out who offers the best interest rates for the desired investment horizon. Because the offers are different. With two percent for savings deposits that can be withdrawn daily, the Santander Consumer Bank currently has the best conditions: After three months, the interest rate is variable. At Bank Direkt der RLB OÖ, there are even three percent for a commitment period of 36 months for minimum deposits of 1,000 euros. The current conditions can be found in the AK bank calculator (bankenrechner.at). Commitment agreements should be considered carefully, according to the AKOÖ.

Alternatives to savings deposits include bonds, which also benefit from the rise in interest rates. In addition to buying and selling fees, they also charge custody fees. Bonds are also not covered by the deposit guarantee. The AKOÖ advises to take these costs and fees into account.

Have you heard? The OÖN have a business podcast – with business department head Dietmar Mascher. In the current episode, RLB-OÖ General Director Heinrich Schaller is a guest. Have a listen:

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