Savings accounts are a great way to safely invest your savings and multiply them by interest. This has the advantage that the assets are generally available daily and not fixed as for funds or deposits for a long time. This article will briefly introduce the current account of Volkswagen Bank and its terms.
The most important thing – the interest rate – at a glance
The interest rate on the overnight deposits of VW Bank depends on the amount of the deposit. New customers will receive an interest rate of 1.80% per year (pa) for a credit balance of up to EUR 50,000 in the promotional period until 01.04.2013, both by telephone and online account management. After 1 April 2013, the call money account will be adjusted to the then applicable interest of Volkswagen Bank. The interest rate for more than € 50,000 in excess credit is variable and currently amounts to 1.10% pa for online account management and 1.00% pa for telephone account management, so it can also be changed before during the promotion period.
Conditions for overnight deposits of VW Bank
Your balance on the call money account is available daily. In addition, you have at any time, including during the promotion period until 01.04.2013, the ability to deposit money into the account. The interest payment is made monthly. Compared to a quarter, half or all-year payment , you have the advantage that the interest of the previous month will be included in the current month. You incur no costs for the account management. A notice period does not exist either. If interest rates become too low after the promotion period, you can cancel the account at any time and switch to another bank.
The Volkswagen Bank lures with a call money offer for new customers. However, the interest rate of 1.80% pa only applies up to a credit balance of 50,000 euros and in the promotion period until 01.04.2013. Positive features are the monthly interest payment, the daily availability of the money, the account management without costs and the non-existence of a notice period. The interest rate for the credit over 50,000 euros and the distinction between telephone and online account management can be improved.