High MRP: the end of the crisis, interest rates

A number of banks and savings banks in Germany that had set due to the Corona-crisis overdraft interest rates for private customers temporarily significantly do

High MRP: the end of the crisis, interest rates

A number of banks and savings banks in Germany that had set due to the Corona-crisis overdraft interest rates for private customers temporarily significantly down, returning again to the pre-crisis values. Part of the means for the customer is approximately a doubling of the interest rates charged by the banks for an Overdraft of the current account in the agreed framework ("overdraft"). In some cases, exceeded the limit of 10 percent MRP interest again. On an extension of the Corona control most of the institutions have abandoned, apparently, even if the Corona-crisis is certainly over. Some of the institutes have set the interest rate at the beginning of July again – other now in August.

What's behind it? Had justified the credit institutions, the temporary reduction in their overdraft interest rates that they wanted to give their customers some relief, because this would be charged from the Corona-crisis. The closer it will for many people economically, the more likely to eventually slip into the MRP, it had been back then. Therefore, they wanted to relieve the loyal customer base, at least at this end something.

Part had not, however, far from all banks. Also, the associations of the banking industry, could call a nationwide struggle through. Apparently, even the banks, who had been with do not want to put the now unlimited.

Frankfurter Sparkasse was the pioneer

The Frankfurter Sparkasse, which had belonged to the First, which had set in the Corona-crisis, the overdraft interest rates down to 1.July back to the pre-crisis level returned. 1. April up to 30. June was more than the MRP rate for existing customers temporarily 4.99 percent per year, said a spokeswoman. "As I announced at the time, the interest rate is now back at the previous level, namely, in the case of 10,49 per cent."

at the beginning of August, were raised at the cooperative VR Bank Coburg in Franconia, the MRP rates of interest. 1. May to 31. July was the crisis, interest rate at 4.75 percent, a spokesman said. Now it amounts to re-6.75 percent per year. The Sparkasse Neubrandenburg-Demmin in Mecklenburg-Western Pomerania had 30 your interest rate up to. June to 5.99 percent. "Since the 1. July, the standard condition is restored,“ said a spokeswoman. According to the Price of 9.95 per cent as posted after all. The Sparkasse münsterland-Ost had reduced their overdraft rates of interest for new customers some time ago from 10.4 to 9.5 per cent for existing customers in the crisis, then up to 4.99 percent. The latter has now been lifted, a spokesman said: "Since the 1. July, the overdraft interest rate from nominal of 9.5 per cent will apply again.“

with the exception of Taunus-Sparkasse

is apparently An exception to the Taunus-Sparkasse Bad Homburg, apparently. Oliver Klink, Chairman of the management Board of the Institute, on Monday, on request, inform that they wanted to do so, as the crisis was over. The MRP interest rates would in any case up to 31. December left at the lowered level. The Taunus-Sparkasse Bank had reduced their overdraft interest rates due to the Corona-crisis of 9,93 per cent to just 5 per cent in the year.

Updated Date: 10 August 2020, 19:19

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