Best Interest rates

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This topic contains 7 replies, has 3 voices, and was last updated by Profile photo of Anonymous Anonymous 2 years, 10 months ago.

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  • #57923
    Profile photo of Anonymous
    Anonymous
    Participant

    Does anyone knows which banks give a good interest on savings accounts?

    Thanks

  • #119054
    Profile photo of Anonymous
    Anonymous
    Participant

    This is a very fluid market & by the time you find out the rates would have moved. Banks have no incentive to attract from depositors.

  • #119080
    Profile photo of logan
    logan
    Participant

    It depends on how much you wish to invest. Most savings accounts need a minimum around €3k which pays around 2.5%. Upwards of €50k around 4% is possible.

  • #119082
    Profile photo of Anonymous
    Anonymous
    Participant

    Great, What bank gives that kind of interest?
    Thanks

  • #119083
    Profile photo of logan
    logan
    Participant

    Those rates are fairly standard from banks in Spain and the rest of Europe. However you have to negotiate a deal in Spain by going to the bank and talking with them. You will also need to tie up the capital for a minimum of a year and maximum about 4 years. Interest is either paid annually or at the end of the term and net of tax.

  • #119085
    Profile photo of Anonymous
    Anonymous
    Participant

    Thanks, I will contact my bank in Spain.
    That beats what I am getting in the US. half a percent.

  • #119086
    Profile photo of logan
    logan
    Participant

    If you are in US Dollars you have to consider where the exchange rate against the Euro is likely to be when you want to repatriate the funds.

    I have heard some expert opinion say that the fair value Euro/Dollar rate is €1.24. It’s now around €1.35. Current long term market sentiment is against the Euro due to deflation fears and weak growth in the Eurozone.

  • #119087
    Profile photo of Anonymous
    Anonymous
    Participant

    Yes, I have been watching the Dollar vs the Euro for a few weeks, and the Euro does not seem to be weakening.
    I have been trying also to buy the Euro offline (LOL) and no takers.
    I advertized in Craigslist worldwide and no takers. So I just have to wait for the Euro to drop a little.

    Thanks again for your info.

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