BERLIN/FRANKFURT (dpa-AFX) - Savers are receiving less interest on call money from banks than just a few weeks ago. In contrast, interest rates on real estate and installment loans have not fallen recently, according to an analysis by the comparison portal Verivox. According to the analysis, national banks paid an average of 1.69 percent (as of July 15), compared to 1.72 percent at the beginning of June. Savings banks (0.62 percent) and regional cooperative banks (0.64 percent) had significantly lower interest rates on average, and there was also a slight downward trend.

"Many banks and savings banks quickly passed on the latest key interest rate cut by the European Central Bank (ECB) to savers," said Verivox. In June, the ECB lowered the key interest rates in the eurozone by 0.25 percentage points for the first time since the wave of inflation. According to Verivox, at least 64 banks have reduced their overnight interest rates since the beginning of June. That is around eight percent of the 765 banks and savings banks surveyed. In contrast, only four banks have increased their interest rates. Verivox regularly analyzes the overnight and fixed-term deposit interest rates for an investment sum of 10,000 euros.

According to the comparison portal, fixed-term deposit interest rates also continued to fall moderately: the average interest rate for offers available nationwide with a two-year term fell from 2.82% at the beginning of June to 2.79%. In November, they were still at 3.39 percent. How the conditions for savers will develop depends largely on the ECB's monetary policy. It will decide on the key interest rates this Thursday.

The situation for borrowers is less encouraging. According to Verivox, there has been hardly any movement in mortgage rates since June. Interest rates for loans with 10-year fixed interest rates were recently at 3.71 percent and 3.85 percent for 15-year fixed interest rates. Building interest rates are likely to remain stable in the coming weeks, says Oliver Maier, Managing Director of Verivox Finanzvergleich GmbH. The ECB's interest rate decisions only have an indirect influence on building interest rates, which are based on the yield on ten-year German government bonds.

Verivox even recorded a slight increase in interest rates for installment loans to an average of 6.89 percent. This is due to the fact that several banks have relaxed their lending criteria following the ECB interest rate cut, says Maier. This helps consumers with comparatively weak credit ratings. "However, due to the higher risk, the banks charge comparatively high interest rates on these loans."/als/DP/zb