For a long time, the deposit was a safe way for Poles to multiply their savings. As it turns out, the coronavirus pandemic, but not only that, has reversed this trend. The data shows that money from deposits is disappearing very quickly.
The deposit becomes a relic
The deposit has always been a safe haven for Poles for their savings. Conditions changed due to the coronavirus pandemic, when NBP decided to lower interest rates. Currently, deposits bring little profits, and Poles have decided to give up on them.
HRE Investments in its data states that Poles are taking their money from deposits en masse. As a result of this behavior, every fourth zloty has lost its way from deposits in the last seven months. What is the reason for this decision?
“The average annual investment for several years has failed to protect capital against the loss of purchasing power as a result of inflation. The situation has only worsened in recent months,” wrote the report, but that’s not all.
According to the holding company, the deposit is also unprofitable due to the constantly rising inflation. What’s more, in just one year, interest rates on deposits dropped 11 times and now stands at 0.14% on average. In fact, this is a remarkably unsatisfactory profit percentage. So where do Poles place their savings?
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The deposit is becoming less and less attractive
The deposit is becoming a less and less attractive way to increase your savings, however there is a group of those who still remain faithful to it. Experts indicate that the Bank Guarantee Fund offers financial security.
What’s more, you can also find favorable bank deposit offers, however, they are usually dedicated to new customers. Then, the possible profit on the deposit is approx. 2-3%, however, in this case, you also need to meet several conditions. First of all, in order for the profit to pay off, it is good to have an upper limit of the interest rate.
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“Really up to + otrania + is from 60 to around 190 zlotys. You can earn so much more than on an average deposit by using to the maximum a single banking promotion from the top of our ranking”, says Bartosz Turek from the chief analyst of HRE Investments. So what about those who do not want to establish deposits?
Poles willingly invest their savings in real estate, Treasury bonds, as well as in investment funds. A smaller proportion of people decide to buy gold or invest in the stock market on their own. Compared to investments, it is these options that are able to bring more profit, however, as the old adage says, the greater the profit, the greater the risk, and this should also be remembered.
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