THE deposit accounts They become one of the best solutions to enable savers to fight off inflation as they are a safe and particularly convenient solution to use your liquidity. And they are also becoming increasingly convenient for savers.
There are several financial institutions that have taken steps to update their offers and offer more favorable terms to their customers. An investigation ofObservatory of SOSTariffe.it and ConfrontaConti.it stressed that the comfort of this investment has grown throughout 2023 and is guaranteed a net gain of more than 372% compared to 2022. Today, the current account has become more accessible, also thanks to the reduction in the minimum amount required. And above all, it’s more flexible, thanks to the increase in free accounts or with refundable deposits.
Increasingly convenient deposit accounts
The savings account is becoming more and more convenient for savers. This is confirmed by the data from the observatory SOSTariffe.it and ConfrontaConti.it, which have revealed some trends in the sector. The banking market has between 2022 and 2023 recorded some pretty important newswhich are closely linked to inflation and the current economic environment.
The increase in interest rates and inflation have led to a sharp increase in costs for customers: Bankitalia has asked banks to offer offers and guarantees, precisely with a view to reorienting the relationship between intermediaries and customers higher returns on deposits. Nowadays, the checking account is a safe and convenient tool for savers who want to invest their money. On deposit accounts, you can count on a favorable interest rate, which can help you at least partially offset record inflation. Aside from that, up to 100,000 euros The saver enjoys the coverage of the Interbank funds to protect deposits.
The interest rate recognized by the banks seems to be growing stronglyComparing the months of May 2022 and February 2023, the net profit grows to +372%.
Rising interest rates
What is the interest rate on call money accounts? For a short-term deposit – up to six months – you can take advantage an interest rate of 2.15%, up 1.53 points from 2022. The return increases as the investment period increases. With an 18-month fixed-term deposit, it’s even possible to benefit from an average annual gross rate of 2.52% (up 1.7 points year-on-year). The increase in rates results in an increase in net income, which increases by a percentage between 199% and 261%, depending on the duration of the deposit.
The Observatory’s survey data confirms “an increasing prevalence of repayable deposits, particularly for short-term investments (6 months). In fact, among the accounts analyzed, 72% of the tied solutions can benefit from the release clause that allows the customer to regain ownership of the funds deposited. This percentage remains high (65% and 55%) and growing compared to 2022 (+15% and +9%) also by analyzing 12-month or 18-month term accounts.”
Numbers and dates that seem to underline how that Institutions intend to support the deposit account as an investment product, which guarantees greater flexibility to customers who have the option of activating free deposits or, in any case, releasing them. Paolo Benazzi, Managing Director of SOStariffe.it and ConfrontaConti.it explains:
“With ongoing returns, the call money account is again an interesting tool to prevent inflation from eroding the purchasing power of our savings over time. To orientate yourself and choose the most suitable product for your needs, SOStariffe.it and ConfrontaConti.it recommend not only comparing them yieldbut also other important aspects such as Time frame with which the yields are paid and the type of bond: unrestricted for those who want to manage their liquidity, restricted with unrelease for those who prefer to be able to release invested capital in an emergency, restricted without release for those who want to maximize returns and are sure of the capital at all times to be able to give”.