Silent assassins chase German savers

German savers, stuck as hapless players in Europe’s zero sum game, face annual bank deposit losses of 1 per cent. But that's only the start – they are in for more rude shocks.

Life is frustrating for German savers. If they had 5,000 euros to invest and wanted to keep them in an instant access savings account, Deutsche Bank currently offers them an interest rate of 0.15 per cent, the Cologne Savings Bank 0.20 per cent and Postbank a whopping 0.7 percent. This is certainly not much, but it is only the yield before income tax. After tax, there is hardly any return left to speak of.

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