Eliška Šerhantová is raising three children. They will save not only for themselves, but also for them. He regularly sends money to each of the children’s savings accounts. But now there is almost no interest there. “When I find out that there is a higher interest rate somewhere, of course I think about a change,” states Šerhantová.
It was interest on these types of accounts that went up during the last year and remained there at the beginning of this year. But then they began to decline.
“Of course, the interest in savings accounts on the part of the public has naturally decreased; we record a decrease in interest by about seventy percent. It is, of course, how the central bank fluctuated with rates, so we also had to follow these measures from the logic of things, “explains Moneta Money Bank spokeswoman Zuzana Filipová.
“Following the steps taken by the central bank, we have reduced interest rates; we are currently offering a bonus interest rate of 0.6 percent on a deposit of CZK 250,000,” confirms Air Bank spokeswoman Jana Karasová.
In most banks, interest rates on savings accounts are now around half a percent. Only exceptionally do they exceed a percentage. For those with higher interest rates, however, clients often have to meet other conditions, such as investing in another product.
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For mortgages, however, lower interest rates are better news for clients. In July, seven Czech banks announced their reduction in prices. After weaker interest in recent months, demand is growing again.
“The feeling we have from the market is that demand is very strong. There was a delay because the market slowed down slightly because people could not go on tours. And we see May and especially June, when there is great interest in mortgage loans, “states Vladimír Vojtíšek, a member of the ČSOB Board of Directors.
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In the case of consumer loans, banks have not moved much with interest for a long time. However, due to the coronavirus pandemic, clients have been rigorously assessed by clients in recent months. It may happen that, for example, those for whom the bank would have approved the loan without any problems last year will now reject it.
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