Hi all,
I need a support to sort it out the following case. I have some EUR in a saving account in my bank. As of today it is giving a 0.8% interest. This money is intended to be part of the emergency fund and I'm not planning to touch it unless it is strictly necessary.
I would like to find a solution that could pay me more interest than the 0.8% that I actually have (especially considering that the actual interest rate for EUR is around 4%).
I was exploring the options provided by my bank and I short-listed the following:
I need a support to sort it out the following case. I have some EUR in a saving account in my bank. As of today it is giving a 0.8% interest. This money is intended to be part of the emergency fund and I'm not planning to touch it unless it is strictly necessary.
I would like to find a solution that could pay me more interest than the 0.8% that I actually have (especially considering that the actual interest rate for EUR is around 4%).
I was exploring the options provided by my bank and I short-listed the following:
- Medium term note (block the money for 2 years at 1.80% per year)
- Pros:
- No extra costs or fee
- I know how much I will get for the next 2 years
- Cons:
- Exit costs unclear: they mentioned that the costs that I need to pay depends on the market interest rate without giving me more details
- Pros:
- Money market product (Pictet - Short-Term Money Market EUR)
- Pros:
- Should replicate the actual interest rate for EUR (close to 4%)
- Easy to get out of it
- Cons:
- TER: 0.18%
- Potential loss of money
- Pros: