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Czech Republic Best saving account? (http://www.expats.cz/prague/showthread.php?t=350047)

Zash007 10-01-12 03:07 PM

Best saving account?
 
Hi guys,
Does anyone know of any good deals on saving accounts or anything like that?

I would like to grow my money while its there and not have it sit in some account that will be earning 1% over the year.

Thanks for any tips!

Rob_Prague_2004 10-01-12 03:18 PM

More than 1% is out there, but it's hard to find anything that beats inflation.
Airbank: http://airbank.cz/cs/sluzby/sporici-ucet/
Currently paying 2.5%.
Equabank (site in English): http://equabank.cz/en/products/savings/
2.3%
LBBW notice account (no info on ENG version): http://www.lbbw.cz/cs/nasi-klienti/...czk/index.shtml
2.35%
Otherwise, you're going into the realms of some investment funds. I'm not sure how these work to be honest :)

jasoncarne 10-01-12 03:30 PM

Quote:
Originally Posted by Zash007
Hi guys,
Does anyone know of any good deals on saving accounts or anything like that?

I would like to grow my money while its there and not have it sit in some account that will be earning 1% over the year.

Thanks for any tips!


My advice, find a reputable Swiss bank. All the time your money is in a Czech bank it is costing you as like Rob says they pay you less than the rate of inflation.

Peterde 10-01-12 03:55 PM

http://www.metunion.eu/obcan/vklado...y/urokove-sazby. Insured up to 100.000,- Euro.

Peterde 10-01-12 03:57 PM

Anybody knows these guys? Looks to me to good to be true.

http://surigroup.eu/products.htm

mxp_banned 10-01-12 04:01 PM

Quote:
Originally Posted by Zash007
Hi guys,
Does anyone know of any good deals on saving accounts or anything like that?

Here is a good overview of the current rates on saving accounts: http://www.mesec.cz/produkty/sporici-ucty/

mxp_banned 10-01-12 04:08 PM

Quote:
Originally Posted by jasoncarne
My advice, find a reputable Swiss bank.

My reputable Swiss bank pays 0.25% on CHF saving accounts and 0.375% on EUR deposits.

Rob_Prague_2004 10-01-12 04:13 PM

I think Swiss banks are more about security than high returns. According to that neat little tool, I get the highest return from a Russian bank... not sure it's insured though if things really go tits up.
http://erbank.eu/cz/index.php

musicsavedmylife2 10-01-12 09:59 PM

you can't grow your money in any bank. inflation is higher than interest rates,

RaymondS 10-01-12 10:15 PM

I looked into banks before and interest rates were not attractive so i did my research and invested with SuriGroup. I get my interest paid monthly 1% which is not bad at all. FYI this company is operating since November 2002.

MaMi 11-01-12 11:40 AM

On the Surigroup: 1% per month and 100% guarentee of the deposited amount: how is this possible if triple a bonds in the UK reach around 2% per year??? On their web site no company registration details or persons names are mentioned. I have asked an Indian (lawyer) friend to check the Indian company registration but he did not find it. Anybody else used this companies services?

Yvan 11-01-12 12:07 PM

One of the better option in CZ is WĂĽstenrot saving account with interest 2.5 % when you fix your saving to 1 year.
If you cancel your fixing your interest rate is still 2.3% but there is no penalty for canceling the fixing.

Web in Czech :
http://www.wuestenrot.cz/bankovni-sluzby/sporici-ucet/

Google translation :
http://translate.google.cz/translat...en&hl=&ie=UTF-8

mxp_banned 11-01-12 12:49 PM

The only sure thing about the Surigroup is that it is neither licensed nor insured here.

N.A. 11-01-12 01:29 PM

KB saving account 1.5%, ING 1.75% per year.

Unless you have millions, for little savings (let's say up to 100,000 kc) it doesn't really make too much of a difference between 1% and 2%...it just covers well all the bank fees you are charged during the year

For a slightly higher risk I'd rather buy Spanish gvmt Bonds at 6 months or 1 year but this would make more sense for a saving of at least half a million Kc

MaMi 11-01-12 02:11 PM

What is wrong with this: http://www.metunion.eu/o-msd
For up to 100.000,- Euro.

lipstick_killer 11-01-12 02:41 PM

Suri Group seems "too good to believe", they have no relevant information on the web, i dont trust them at all
Metunion and other "družstva" - they are really small and some of them tend to bankrupt quite often, they have nice interest rates, but they are easy to set up and were frauded sometimes.
govt bonds - its hard to buy them as a person and i wont call spanish govt bonds "slightly riskier" than saving accounts

MaMi 11-01-12 02:57 PM

Dear Lipstick_killer,

But (up to 100.000,- Euro) the "družstva" has the same government insurance as banks, or not????

lipstick_killer 11-01-12 03:30 PM

yup, but i am talking about the fact you wont get the "interst", ofc. you will get the money you invested, but "družstva, záložny, etc." are m"more risky" then regular banks - they are smaller => they need to offer better interest => thez have to invest into riskier things then banks..also the fixation of the monez for a period of time can be an issue for someone

mxp_banned 11-01-12 07:52 PM

Quote:
Originally Posted by lipstick_killer
Suri Group seems "too good to believe", they have no relevant information on the web, i dont trust them at all
Metunion and other "družstva" - they are really small and some of them tend to bankrupt quite often, they have nice interest rates, but they are easy to set up and were frauded sometimes.

That used to be the case back in the 90'. Laws have changed since then, and the záložny are now regulated the same way the banks are.

lipstick_killer 11-01-12 08:10 PM

Quote:
Originally Posted by mxp_banned
That used to be the case back in the 90'. Laws have changed since then, and the záložny are now regulated the same way the banks are.
yup,they are regulated the same way but that doesnt mean they are doing the same business as banks,if youll look through newspapers,youll see at least two *zalozna* going into regulated bankrupt /cannot remember the name and i am on my cell phone,so i cant look it up/..some clients of our company used their service and barely got their money back.. there are nice guaranteed investment options in regular banking/investment sector,i am not a fan of druzstva,zalozny and other small houses,partly due to history of this country,but i am not the one to decide where to put the money:)

hroch 11-01-12 09:10 PM

Equabank - instant access savings account 2,3%

OR http://www.equabank.cz/en/products/.../term-deposits/

Term deposits interest rates:
3 months 1,7 % p.a.
6 months 1.9 % p.a.
1 year 2,1 % p.a.
3 years 3 % p.a.
Minimum deposit 20 000 CZK.

Deposit insurance: Your deposit is protected by a statutory insurance up to the equivalent of EUR 100,000.

hroch 11-01-12 09:24 PM

Zuno are offering 3% for a one year term deposit - offer closes 20 January > http://www.zuno.cz/produkty/terminovany-vklad/

Pavel20 18-01-12 04:53 PM

Hello,

just wanted to mention the SuriGroup investment company, I find them the best deal so far. I have invested with them last year and they are great. I invested for one year and I get 1% interest (12% annually) each month!

P.

Pavel20 18-01-12 05:41 PM

Hello,

just wanted to mention the SuriGroup investment company, I find them the best deal so far. I have invested with them last year and they are great. I invested for one year and I get 1% interest (12% annually) each month!

P.



Quote:
Originally Posted by lipstick_killer
Suri Group seems "too good to believe", they have no relevant information on the web, i dont trust them at all
Metunion and other "družstva" - they are really small and some of them tend to bankrupt quite often, they have nice interest rates, but they are easy to set up and were frauded sometimes.
govt bonds - its hard to buy them as a person and i wont call spanish govt bonds "slightly riskier" than saving accounts

hroch 18-01-12 11:56 PM

Quote:
Originally Posted by Pavel20
Hello, just wanted to mention the SuriGroup investment company, I find them the best deal so far. I have invested with them last year and they are great. I invested for one year and I get 1% interest (12% annually) each month! P.


...and you & others posted in another thread here :rolleyes:
see http://www.expats.cz/prague/p-1098659.html#post1098659

hroch 24-01-12 08:55 PM

Quote:
Originally Posted by hroch
Equabank - instant access savings account 2,3%

OR http://www.equabank.cz/en/products/.../term-deposits/

Term deposits interest rates:
3 months 1,7 % p.a.
6 months 1.9 % p.a.
1 year 2,1 % p.a.
3 years 3 % p.a.
Minimum deposit 20 000 CZK.

Deposit insurance: Your deposit is protected by a statutory insurance up to the equivalent of EUR 100,000.


NOW offering 3,25% for a one year term deposit & 3% for 6 months or 3 years

Yvan 07-02-12 01:50 PM

The new overview of the Czech savings accounts :

An article in Czech :
http://aktualne.centrum.cz/finance/...phtml?id=731959

Google translation :
http://translate.google.cz/translat...en&hl=&ie=UTF-8

rsurisetti 22-02-12 07:35 PM

It depends on investors appetite. Example In Australia you get around 6%(http://www.ingdirect.com.au), India around 9.25% interest(http://www.statebankofindia.com). I'm sure there are better ways to increase your nest eggs. In my opinion you need to invest your hard earned money with your comfort level.

animaleyes76 23-02-12 01:53 PM

Only problem with that a lot of banks won't provide accounts unless you are resident in them. You can get about 12.5% from Unicredit in Ukraine but whether someone non resident can actually set one up is another question.

http://www.deposits.org/

rsurisetti 23-02-12 02:42 PM

Agreed, most of banks in India and Australia requires local address.
I manage my own funds. I deposit % of my funds in India and Australia.

Thanks for link animaleyes76.


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