– The dilemma is that most of the interest rates on savings are eaten up by inflation. Those who also pay property tax, have negative real interest rates, says Wærsted to Dagens Næringsliv.
The best interest rates on savings accounts is possible to find in Norway is currently at around 2.5 percent, while most located at about 2 percent. Inflation is 2 percent, and it is growing.
New figures from Statistics Norway show that inflation has now increased to 2.4 percent. Thus ends Norwegian bank customers with the DNB refers to as a “loss-project” if you put money in savings.
– Over 200,000 Norwegians have more than 1 million left in the account. The reason I believe is that we are security oriented, says DNB’s consumer economist Nigel Sandmæl.
Wærsted in Nordea Norway recommends that most customers rather should place their savings in funds.
Financial Services Confederation Finance Norway believes in his side that people must first pay down consumer debt and high mortgage debt before they start using the savings in funds. This advice may be in line with the Ministry’s vision. Figures from there shows that Norwegians have record debt equivalent to more than 220 percent of disposable income. (© NTB)
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