The bank is not your friend

The last major bank is also offering its customers a slightly higher interest rate on their savings accounts. The sector has postponed that moment as long as possible, even if for some time the banks themselves have been receiving a higher remuneration on the deposits they hold with the European Central Bank. For years, savers have had to settle for a legal minimum interest rate that is barely sufficient to cover the costs associated with the account. But as long as inflation remained close to 2 percent, the erosion of the purchasing power of their savings was limited.