Interest rates The turnaround in interest rates by the European Central Bank (ECB) is driving up overnight interest rates.
(Photo: dpa)
Frankfurt The online bank ING Germany is pushing ahead again with an interest rate increase for new overnight money accounts. It pays new customers 3.5 percent interest for six months from Tuesday. This was announced by private customer boss Daniel Llano on Monday at the Handelsblatt conference on the future of retail banking.
“Competition for insoles is becoming more intense,” Llano said. With the new offer, ING wants to further increase the number of its customers.
Llano said there has already been an increase in the number of people looking for attractive interest deals and then switching banks in recent months. “And I expect that we will see even more changes in the coming months.”
So far, the ING overnight interest rate for new customers is three percent. Existing customers should receive one percent on overnight money from July 5 instead of the previous 0.6 percent.
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