the account slips into the red, it is expensive. Too expensive, my financial Tester – although some banks have recently lowered the MRP interest. Here, the institutions borrow the money at the time for almost nothing.
Who slips into negative territory, must pay MRP interest of up to 14.25 per cent, gave a most Tuesday published comparison for the journal “financial test”. According to the reviewer a fair MRP interest would be well below ten percent, because the banks themselves can borrow money at historically low rates.
The Stiftung Warentest had the conditions of 1504 banks compared and found large differences. The cheapest supplier demanded 4.9 per cent for the MRP. On average, customers paid at the closing on August 1 10.65 percent.
At 250 banks it is cheaper
In the previous year the figure was 11.31 percent. At 250 banks, the account-coating had since become cheaper by at least one percentage point, said Foundation Chairman Hubertus Primus. Moves have especially institutions that previously accessed vigorously: Of the 100 banks then demanded MRP interest of 13 percent or more, there were only 35 left. Among themselves, banks loaned to date the money for 0.21 percent
Surf Tip:. The great day money-comparison
Following the recent reduction in the ECB base rate to a record low of 0.05 percent had again announced several banks to reduce the MRP rates – but only slightly to a still double digits
Maas. “Many banks are not transparent”
“Many banks continue to make grouping unreasonably high interest rates and are not transparent,” criticized Consumer Protection Minister Heiko Maas (SPD). Customers stuck long in the MRP would be required to advise on alternatives, he demanded.
“It does not do particularly much, “said Primus also. Too many banks used the MRP interest continues, “to their customers to fleece”. Each percentage point more rinse the institutions almost 380 million Euro in the coffers.
A statutory cap on interest Dispo see the testers still critical. “Even banks with high MRP interest already by evasive maneuvers,” said Primus. The MRP interest would be reduced, but at the same time increases the account management fee. Cheap grouping conditions give it here only for expensive accounts. The distorting even the average value determined in the test down
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