Today’s generation of parents and grandparents can remember all too well the annual World Savings Day ceremony, when children bring their bulging piggy banks to the bank or savings bank and deposit their hard-working coins and bills into an account. This year World Savings Day takes place on October 30th. But how do credit institutions and savings fit together?
Tomorrow’s World Savings Day is originally dedicated to promoting the idea of savings. However, taking out a consumer loan, which is the main business of our bank, is often seen as the opposite of saving.
Why do we still want to remember World Savings Day?
As lenders, we also want to remember World Savings Day. Because we as a bank also have a solution on the subject of saving.
As lenders, we not only want to help you achieve your short-term goals, but also show you one way or another how you can realize your dreams beyond consumer credit.
Most of the time, when you talk about the dreams you are pursuing, it is about health, wealth, a secure job, travel and a nice home.
As a consumer credit bank, we help our customers financially to meet their short-term wishes – be it a dream trip, a wedding, a dream car, electronic devices or new furniture for the home.
The right partner for financing issues for consumer goods
But we also know that our customers pursue both short-term and long-term goals – including the desire to own their own home. 84 percent of Germans want a property. When asked why Germans would like to buy a property, the most frequently stated option is “rent-free living”. 92 percent name freedom of design, followed by security in old age and a secure investment. Real estate is therefore an important pillar of savings for Germans.
Bausparkasse Mainz has been an important cooperation partner for us since 2005 in order to support the wishes of our customers in realizing construction financing. In cooperation with Bausparkasse Mainz, we offer a building society loan agreement through our branches.
World Savings Day and Bauspar contract?
The home loan and savings contract is a savings model in which you pay a certain sum monthly. By concluding such a contract, the customer is entitled to a building society loan in the contractually agreed amount. The amount of the loan results from the differences between the home loan and loan amount and the home loan balance. The building society loan is definitely a cheap form of borrowing in the field of mortgage lending.
Important: When creating / opening a home loan and savings contract, you must check in advance whether you are entitled to capital-forming benefits in accordance with the collective agreement. The majority of employers are happy to provide this subsidy of up to EUR 40 on request, which otherwise expires if it is not used. Here, too, our branch will be happy to handle / coordinate the economics with your employer for you.
Saving is possible – the will counts
But we also have an alternative for the 16% of the population who are not interested in owning a home: In addition to our own option Fixed deposit through our partners, including the Berliner Volksbank, we offer attractive offers for fixed-term deposits. Here you can safely and easily invest money from 5000 EUR.
The Building loan agreement as well as the deposit of fixed-term deposits, we offer both independently and in connection with the loan disbursement.
Borrowing and saving are not as remote as expected. Find out more about that now Mortgage offer. We are also happy to advise you in our Branches.
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