At least 43 percent of German banks do not pay any interest on call money, and the proportion is slightly higher for cooperative banks and savings banks. A month ago, 55 percent of all money houses still had no overnight interest rates.
(Photo: imago images/Noah Wedel)
Frankfurt Within a year, the German banks have increased the overdraft interest much more than the call money interest. The volume-weighted interest rates for overdraft facilities for private individuals rose by almost two percentage points to 9.16 percent from the end of January 2022 to the end of January 2023, as determined by the analysis company Barkow Consulting.
This is the highest level in more than seven years and the strongest annual increase since the time series began in 2000, according to Barkow Consulting. Overdraft interest accrues when customers overdraw their current account but remain within the agreed overdraft limit.
The development of overnight interest rates lags far behind. Volume-weighted overnight interest rates rose just 0.3 percentage points to 0.27 percent. This is shown by the return radar of the digital asset manager Whitebox.
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