Survey: Austrians continue to believe interest rates will remain low

  • Intended Amount to be Saved Stagnates at Around € 4,500
  • Planned Average Credit Amount: € 64,000
  • Every Second Respondent Expects Interest Rates on Savings to Remain Unchanged

How much money can Austrians put aside over the next 12 months? According to the latest INTEGRAL survey commissioned by Erste Bank, the amount Austrians intend to save or invest in Q2 2013 is € 4,500. That is a decline of only € 100 compared to the same period last year. The desire to take out loans remained fairly steady as well: 18% of those who plan major purchases want to borrow money from their bank for the purpose. Every second respondent believes that interest rates on savings will remain the same, about one third also think that interest rates on loans will remain unchanged in the coming 2 to 3 years.

Safe Forms of Savings Are Preferred
With € 4,500 (- € 100) Austrians have almost the same amount for the purpose of reinvestment or new investment available in the next 12 months as in the comparable quarter of 2012. With regard to the choice of the form of savings and investments, safe forms of saving continue to be highly popular. The savings book remains the most favored form of saving with 65% (-1), followed by building savings accounts with 54% (-1) and life insurance policies with 41% (+3). In the realm of securities there is movement as well. Interest in investment funds is rising among Austrians: 16% (+1) want to invest in this manner. 15% (+1) want to buy real estate and 11% (+1) want to buy gold. Bonds (-1) and stocks (-3) however decline compared to last year and stand at 9% each. "In times of low interest rates one should more than ever pay attention to a reasonable diversification of one's savings", says Peter Bosek, member of the management board. Funds deposited by private households at Austrian banks currently amount to about € 215 billion

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