That’s how much interest you get with 50,000 euros
It’s worth saving again. Because the European Central Bank (ECB) has initiated the turnaround in interest rates by raising the key interest rate. That’s why many banks lure you with lucrative returns: be it on a call deposit or fixed-term deposit account. But how much money jumps out of an investment of 50,000 euros?
The European Central Bank (ECB) has successively turnaround in interest rates initiated. That is why more and more banks are increasing their interest rates. Ultimately, more and more savers are benefiting from this. Because there are lucrative returns on many call money and time deposit accounts.
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Saving: This is how much interest you get with 50,000 euros
The reason: The key interest rate is currently back at 3.5 percent. In addition to many banks, some neo-brokers have even jumped on the interest train. Trade Republic is currently attracting interest rates of around two percent. The competitor Scalable Capital even has 2.3 percent – but only for subscribers to the Plus paid subscription.
Meanwhile, ING Germany promises three percent overnight interest, but only for six months. With the follow-up interest, the bottom line is only an effective annual interest rate of 1.8 percent. Nevertheless, it is worth saving again.
However, you should not leave your money in a checking account, as this is usually interest-free. With a call deposit or fixed deposit account, however, the situation is different.
Call money account or fixed deposit account? A comparison
Ideally, monthly salary will flow into your account. It’s even better if there’s some left over at the end of the month. A so-called nest egg can’t hurt. But above a certain amount, it pays to think differently.
Suppose you have 50,000 euros in savings in your checking account and want to put this amount aside as a nest egg. Then a money market account is an ideal option. Because even in emergencies, you can access the money within one working day.
At the same time, there is less temptation to spend the savings unnecessarily if it is in another account. According to a rule of thumb, you should set aside two to three net salaries as a nest egg. A fixed-term deposit account is currently also a worthwhile alternative or supplement.
Because German banks now pay up to more than three percent interest on fixed deposits – the European ones even up to four percent. The catch: With a fixed-term deposit account, you entrust your money to the bank for a certain period of time. Only then do you get the interest. During this period, however, you cannot access your investment – but the returns are higher.
The interest for an investment of 50,000 euros: A calculation example
Suppose you want to invest your money in a fixed-term deposit account for a year. Then you can get the said four percent interest from some European banks. With an investment amount of 50,000 euros, the bottom line would be 1,500 euros in interest.
With a call money account, however, the bill looks a little different. Ideally, interest rates are two percent. The advantage: Some banks and brokers even pay out the interest monthly or quarterly. The interest after one year: 1,000 euros.
Ultimately, however, whether an overnight or fixed-term deposit account is suitable for you depends on whether you can do without the money for a certain period of time or whether you want to put it aside as a nest egg. A mixed system may also be an option.
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