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Frankfurt / Main (dpa / lhe) - Sparda-Bank Hessen wants to continue to spare its customers from penalty interest.
"The current account remains free of charge, we will not charge any negative interest from our private customers in 2021 either, and decentralized advice on site has high priority," said the chairman of the cooperative institute, Markus Müller, on Thursday.
Last year, according to the Frankfurt Institute, the number of customers increased by almost 2,700 to almost 355,000. There was an increase of a good two percent to 302,299 in current accounts. The number of branches remained stable at 36, plus 25 ( Previous year: 27) self-service points.
Commercial banks currently have to pay 0.5 percent interest when they park excess funds with the European Central Bank (ECB).
Although there are allowances for certain sums, this negative interest rate still puts a strain on the industry.
More and more banks are passing the costs on to their customers in whole or in part.
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According to an evaluation by the comparison portal Verivox, 213 banks and savings banks in Germany have now made negative interest rates for private customers public in their price displays.
Customers who park higher sums in overnight money accounts are mostly affected.
© dpa-infocom, dpa: 210128-99-206800 / 2
Communication from Sparda-Bank Hessen
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Time series of key ECB interest rates
Verivox overview of negative interest rates