Author: Archive Euro.cz
Air Bank will reduce the interest rate on savings accounts from 12 April 2024. While until now the rate is 5% pa on deposits up to 250,000 CZK and 6% pa on deposits from 250,000 and above, from the mentioned date it will be 1 percentage point lower. And be careful, even this new interest rate will only be valid until May 2, 2024.
We kept the special interest on savings accounts as long as possible. Although the Czech National Bank has now reduced interest rates again, we will keep the interest rate up to 6% until April 11, 2024. After that, we will reduce the interest rate in the action by one percentage point,
he says Jiří Suchýdirector of the Products and Innovations Division of Air Bank, and adds that clients will be able to use this preferential interest rate until May 2, when the event ends.
| Deposit amount | Annual interest rate valid until 11 April 2024 | Annual interest rate applicable from 12 April to 2 May 2024 |
|---|---|---|
| Up to 250,000 CZK | 5% | 4% |
| 250,000 – 500,000 CZK | 6% | 5% |
| 500,000 – 1 million CZK | 6% | 5% |
| Over 1 million CZK | 6% | 5% |
At the same time, the bank is coming up with something new, which is an investment in Air Bank. It is basically a loan that you provide to the bank and the bank will use it to meet the legal requirements for so-called eligible liabilities. For this, you will receive a fixed interest rate of 6% pa from the bank, which the bank will credit to your account in adequate monthly amounts. At the end of the agreed period, the bank will return the money back to you. However, Air Bank announces that it will return your investment a year earlier and also guarantees 6% interest only for the 1st year of your loan.
Investment conditions
- The minimum investment amount is CZK 100,000,
- after the agreed investment period, you cannot withdraw your money or deal with it in any other way. Therefore, invest only the money that you will not really need during the loan period.
It is also important to know that this type of bank loan is not covered by the insurance of receivables from deposits or investments with the Financial Market Guarantee System. It means that if Air Bank got into serious financial trouble, you might never see your money again.
Tags: Air Bank lowers interest rate savings account introduces fixed income #p.a
