New law for the interest rate of bank saving books in Austria
February 22nd, 2007 in Austrian Interest Rate
Since the new year has started, banks must adapt the interest rate of bank books automatically. The Supreme Court in Austria made such a decision, but that does not mean all bank books or forms of saving are affected.
The rule is only valid for bouned bank saving books with variable interest rate. These are those bank books who have a certain fixed period of time. Usually a couple of months to two or three years.
The new law is also not valid for online saving accounts, as well as for forms of savings from direct banks like Ing-DiBa, Easybank, or Generali Bank.

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