Cologne City Gazette
Cologne (ots)
After the interest rate hike by the ECB, many banks are now also increasing the overdraft interest rates for their private customers – even though the level was already high. This emerges from an analysis of the “Kölner Stadt-Anzeiger” by ten institutes. The leader in the region is the Sparkasse Leverkusen, which charges an interest rate of 14.35 percent. With two exceptions, all institutions surveyed in the greater Cologne area have increased their interest rates over the past five months. The largest increases were at Sparda-Bank West and Kreissparkasse Köln with more than ten percent. However, both banks are at the lower end of the table with 10.5 percent and 10.68 percent interest respectively. The banks’ increases are based on the reference interest rate Euribor. Over the course of 2022 and 2023, it rose continuously from around -0.5 percent before the ECB hikes to the current 3.28 percent (Friday).
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Original content from: Kölner Stadt-Anzeiger, transmitted by news aktuell
