Where there are currently the highest interest rates on savings

New savings accounts barely offer any interest. Saving online is more attractive: the interest rate is 2 percent on average, according to the Chamber of Commerce in a press release. For fixed interest funds over twelve months, it is 2.50 percent (average).

More transparency is required

But be careful, many daily interest rates often drop to mini interest rates after a short period of time. Austrians have over 200 billion euros in their daily savings deposits or current accounts with almost no interest! The AKP calls for more transparency in interest rates, and savers should renegotiate interest rates or switch to better offers immediately.

Low interest on savings accounts

For new everyday savings accounts, interest ranges from 0.001 to 1.75 percent per year; Anyone who opens a new online savings account (due daily) earns between 0.01 and 3.60 percent interest. This is shown by the current AK savings interest monitor at 28 online banks and branches in Vienna, collected on October 24, 2024 via the AK Bank Calculator.

Interest on fixed savings

A person who invests his or her “emergency fund” in a capital savings account for a period of twelve months can expect interest rates between 1.60 and 3.20 percent (Anadi Bank of Austria – minimum savings amount €1,000, Adeco Bank – minimum savings amount 5000 euros). For 36 months of fixed funds, the interest is 0.125 to three percent (Austrian municipal loan, minimum saving amount 10,000 euros).

“Interest rates are falling rapidly”

“Banks attract customers with attractive interest rates for everyday savings accounts and online products,” says Christian Brantner, consumer advocate at AK. “But interest rates often drop to around 0.01 percent after a short period or are changed unilaterally by the bank. We demand more transparency when it comes to daily interest rates.