The savings book is still one of the most popular forms of saving (variable interest rates). The following savings book forms are available:
- Name savings book
- Password savings book
- Anonymous savings book
Do saving books bear negative interest rates?
No. Savings accounts with a variable interest rate must be linked to a key interest rate of the money and capital market.
This is very often the money market interest rate Euribor (European Interbank Offered Rate), i.e. the interest rate at which the banks lend money to each other.
For savers, this means that if the Euribor falls, the interest rate on the savings account also falls. If the Euribor rises, then the interest rate on the savings account also rises. Recently, however, the phenomenon has arisen that the Euribor can be negative – as a result, a contractually agreed savings interest rate could also be mathematically “negative”. It is precisely this case that excludes a ruling by the Supreme Court. It states that the bank must pay the savers interest on the savings book or savings account. So there must not be any negative interest when saving.