Maximizing Money in a High-Interest Rate Environment: Earn Big Returns Easily

While it used to be the case that the most advantageous financial product was a mortgage, as you could take it on incredibly mild terms that it almost looked like the banks could not make any money from it, today it is exactly the opposite. High interest rates and inflation literally changed the rules of the game. Anyone who gets the hang of it can earn some very interesting money without having to do complicated things.

Can be easily earned

At this moment, you can make a lot of money on inflation, as a result of which the Czech National Bank keeps interest rates still at 7%. The reason for this is the fact that banks try to attract as many funds as possible and are willing to pay for it, with a high interest rate on a savings or term deposit.

Today, practically everyone has some savings. It is often hundreds of thousands to millions of crowns. That’s not much, but you have to realize that if you don’t value this money, you’re just losing its purchasing power. At the same time, now is the ideal moment when you can evaluate them in a truly above-standard way. Inflation is easing and the current one is already close to zero.

But you can still earn 6% interest very easily on a savings account. If you deposit there, for example, 1 million crowns, you will receive 60,000 per year. This is not at all little, this way you will improve yourself by 5,000 crowns a month, which is not a small amount of money even today.

Foto: Shutterstock

Big money for nothing

It is a huge difference from the situation that prevailed just a few years ago. Back then, banks simply didn’t want your money at all. Anyone who wanted to preserve or increase their value had to invest. In the Czech Republic, this usually meant the purchase of some real estate, which then drove the prices of apartments and family houses up senselessly. In addition, considerable worries were associated with it. Today you cash out money from your funds carefree. In short, they appear on your account every month and you can deal with them.

Read also: Česká banka started to cancel people’s accounts. Without explanation. Well, that’s a bit too much

“It’s really cool. In twenty years, we have accumulated savings in the amount of some 1.5 million crowns. Before, we were annoyed that they gave us practically nothing in the bank for them. We were also considering buying an apartment for them, but we didn’t really want to do it. It’s just that we didn’t. Now we get 90 thousand in interest every year without any work,” says Mrs. Jana from Kutná Hora.

Foto: Shutterstock

2023-11-05 15:00:00
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