3 percent overnight interest at ING? That’s how much you get with 10,000 euros
ING Germany has increased its overnight interest rates. The bank is now paying its customers three percent interest per year on overnight deposits. The catch: the term is limited to six months. We’ll tell you how much money you can make with an investment of 10,000 euros. A calculation example.
With the change in the key interest rate in July 2022, the European Central Bank (ECB) Interest rate turnaround initiated. Since then, there has been interest on many call money and time deposit accounts again. The turnaround in interest rates is still not popular with many savers. Because numerous banks are still acting hesitantly and fobbing off their customers with low or zero interest rates.
ING Germany increases overnight interest rates to three percent
In order to counteract inflation, the ECB raised the key interest rate again in March 2023 clearly increased – to 3.5 percent. Since then, more and more banks and brokers have jumped on the interest rate train and lured in with tempting offers. ING Germany, for example, has now unpacked the “interest rate hammer” – or has it?
The bank is now paying its customers three percent interest on overnight deposits for a term of six months. The ING announced this in one official notice at. The bank is not only increasing its overnight interest rates, but is also extending the term – for both new and existing customers.
Open an Extra call money account with ING now
The call deposit account of ING
For comparison: Previously, the interest rate was two percent per year. The term was four months. New customers who register with ING for the first time after six months Open an extra account (overnight money).receive the new interest rate of three percent for six months on deposits of up to 50,000 euros.
The catch: The currently valid base interest rate, which is currently 0.6 percent per year, then applies. The bottom line is an overnight interest rate of 1.8 percent per year, which is only a higher average in comparison.
It is true that ING is ahead of many other banks. However, brokers such as Trade Republic (2 percent) and Scalable Capital (2.3 percent) promise significantly higher overnight interest rates – for the entire year. From an “interest rate hammer” – the BILD newspaper sends its regards – can only be said to a limited extent.
Call money interest: This is how high the interest is with 10,000 euros saved
According to ING, existing customers also have the opportunity to secure the higher interest rate. For every euro that you pay into your extra account from another bank between April 5 and 25, 2023, the bank also pays three percent interest per year for six months. In this case, too, the interest rate applies to new deposits of up to EUR 50,000.
With the increased call money interest of the ING, you can currently receive 150 euros within six months with a savings amount of 10,000 euros. With the then applicable base interest rate of 0.6 percent, it would be 180 euros per year. That’s not bad, but just above average.
This article contains affiliate links for which we receive a small commission. However, these have no influence on the content of our contributions.
Also interesting:
