Almost every fourth zloty has departed from the deposits. Historical record

Within 7 months, almost every fourth zloty was lost from deposits. This is the strongest outflow in history, according to HRE Investments’ estimates. As added, the latest available NBP data suggest that during the year the interest rate on the average annual deposit fell 11 times to 0.14%. in August.

According to HRE Investments, bank deposits have not spoiled for a long time. “The average annual investment has not been protecting capital against the loss of purchasing power as a result of inflation for several years. The situation has only worsened in recent months. Inflation is not letting go, and interest rate cuts caused the interest rate on the average annual deposit to drop 11 times to 0.14 percent during the year. in August – the latest available NBP data suggest “- reads the HRE Investments analysis.

Almost every fourth zloty has departed from the deposits. Historic record – HRE Inwestemnts

According to Bartosz Turk, chief analyst at HRE Investments, it is hardly surprising that money has been flowing out of bank deposits in recent months.

“In February we held a total of PLN 290 billion on them. Today it is 67 billion less – suggest the calculations of the central bank as at the end of September. This means that of deposits, within 7 months, almost every fourth zloty departed. We have not dealt with such dynamic changes since at least 1996 – since when the NBP has been collecting relevant data “- said Turek.

In his opinion, information coming from various sides suggests that these savings flow to other assets, which offer the chance for more solid profits. “It’s about retail treasury bonds, the real estate market and investment funds. There, even several billion zlotys a month have been flowing recently. Poles also invest smaller, but still considerable amounts by buying gold or investing in the stock market themselves “- he explains.

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He indicated that the majority of deposit holders still appreciated the security offered by the Bank Guarantee Fund. As he added, for such people the fact that inflation absorbs the purchasing power of their savings many times faster than banks add interest to them is the price for the security of funds. Simply put, many Poles prefer a modest but certain interest rate on a bank deposit or savings account.

What about deposits?

“Our cyclical research shows that we have five products on the market that allow you to earn 2-3% per year. A month ago, there were seven such deposits and accounts. On the other hand, in as many as nine institutions, even the best deposits bear interest at less than 1%. per year “- pointed out the Turek.

According to HRE Investments, it has not changed that the best offers are subject to additional restrictions. Most often they are dedicated to new clients, thanks to them you can entrust money for a specific period (e.g. 3 months), we have an upper limit of an attractively interest-bearing amount (e.g. PLN 10-20 thousand)In addition, we often have to set up an account with a bank, get a card and actively use these products to avoid fees.

“Really up to + otrania + is from 60 to about 190 zlotys. You can earn so much more than on an average deposit using a single banking promotion from the top of our ranking. It requires a good knowledge of the rules, often setting up an additional account and accepting a new payment card into the wallet “ – explains Turek.

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