This is how much money the lucky saver earns enough to keep € 20,000 in a bank account for 5 years.

When you have sums of money aside, you often ask yourself how profitable it is and whether there are profitable investments. This is because it is not at all convenient to leave a lot of money in stock in the checking account or in the mail book. Not only because there is steady administration and tax costs to be incurred, but also because of the possibility of cuts. Not surprisingly, our experts noted.What are the risks of keeping money in the checking account in addition to the hidden tax?Currently, it is advisable to carefully choose where to entrust your savings and how to defend it from any erosion. According to recent mathematical simulations, here is how much money the lucky saver is earning enough to keep € 20,000 in a bank account for 5 years.

And let’s talk about a lucky circumstance because, unfortunately, due to the Covid-19 epidemic, many Italian families no longer have any savings. In recent months, after losing or suspending business, they have had to withdraw a lot of cash. The urgent need to provide for daily needs has resulted in an inability to save and accumulate, so it remains a fortune to have provisions. After all, this is how much money the lucky saver earns enough to keep € 20,000 in a bank account for 5 years. In the same wayIt is unbelievable but not everyone knows how much he will earn 50 thousand euros in the bank in a year without risking the account“.

This is how much money the lucky saver earns enough to keep € 20,000 in a bank account for 5 years.

Obviously, we are not indicating the possibility of benefiting from the funds in the current account. This is because it does not provide more or less beneficial returns, but only entails constant and ever-increasing costs. Alternatively, the account holder who transfers the equity in the stock to a deposit account can get interesting profit margins. Opening a deposit account is equivalent to securing a safe income, especially if the savings does not exceed the € 100,000 threshold. This is because over this limit there is no guarantee that The Interbank Deposit Protection Fund Offer clients capital. Anyone who pays € 20,000 in a deposit account and is tied to this amount for a period of 5 years receives an interest of around € 1,250.

Obviously, returns change according to the banking reference group, the total rate and the presence or absence of the enrollment. However, based on the ratings and comparison of the different offers, there are banking institutions that guarantee an overall rate of 2%. Finally, stamp duty and regular taxes should be subtracted from this return. Despite this, a client who deposits 20,000 euros and pledges not to withdraw it for a period of 5 years is guaranteed an interest in excess of 1,200 euros.

Deepening

Here’s how much money you make to keep € 30,000 in a bank deposit account for 12 months with strings and no strings attached