Comments to the reduction of the rate of interest on saving accounts

Rates of interest on saving accounts and term deposits are decreasing in the long term, but on the other hand bank loans are cheaper.

One of the reasons is the long-term decreasing of interbanking rates.

Overview CNB rates: http://www.cnb.cz/cs/menova_politika/prognoza/index.html#PRIBOR

and low inflation. Link here http://www.cnb.cz/cs/menova_politika/prognoza/index.html

Most of the Czech banks have less rate of interest on term deposits than on saving accounts.

Air Bank has already made comparison among saving accounts. Link here

https://kampane.airbank.cz/pub?id=-3:hxofqyyh:1:1&nccvq=&EGP=190200010201&F1=154862

It is good to think about how to allocate our financial reserves. We reccomend to leave a part of the savings, such as 3-month reserve, on your saving accounts. It is also smart to save your financial reserves on a term deposit with a higher profit. For example, J&T Bank has the rate of interest for the term deposit up to 2.6% and there is a guarantee by the Czech government (Fond pojištění vkladů). J&T Bank is one of our partners.

In the longer term, it is advisable to invest regularly or irregularly in mutual funds (stocks, bonds).

Authors Ondřej Marek & Martin Zelenka