Premium savings
When insurance savings is a special type of savings account , in addition to the savings interest rate due to a premium draw a savings premium is paid.
General
Premium saving was introduced in 1950 by the Volksbanken , taken over by the savings banks and, instead of being entitled to interest, enabled savers to participate in a premium draw from the interest accumulated in the premium fund. As with the savings book, there is interest that is prescribed by the bank and depends on the market interest rate . A fixed amount must be saved each month at the time the contract is signed, which can be credited to the savings account with a standing order . So it is a bank savings plan . The notice period is 3 months.
In contrast to the savings book, there are additional bonuses from the bank or savings bank, which depend on the annual savings deposit. These increase from year to year up to a maximum amount, usually up to 50%. The amount of the premium as a percentage is determined when the contract is concluded . If the savings deposit or even part of it is canceled, the bank will no longer pay any premiums and it will behave like a normal savings account.
In addition, the saver can pay in a one-off investment of any amount at the start of the contract.
Sample calculation
The premiums depend on the savings year.
| Austerity years | 1 | 2 | 3 | 4th | 5 | 6th | 7th | 8th | 9 | 10 | 11 | 12 | 13 | 14th | 15th |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Premium in% | 0 | 0 | 3 | 4th | 6th | 8th | 10 | 15th | 20th | 25th | 30th | 35 | 40 | 45 | 50 |
With a one-time investment of 250 euros and a monthly savings amount of 100 euros, the following amounts result (if the contract is signed before December 31, 2007):
| date | Savings rates | interest | Bonuses | One-time payment | Capital development |
|---|---|---|---|---|---|
| 12/31/2007 | 100.00 EUR | 0.70 EUR | 0.00 EUR | 250.00 EUR | 550.70 EUR |
| December 31, 2008 | 1,200.00 EUR | 11.07 EUR | 0.00 EUR | 0.00 EUR | 1,761.77 EUR |
| December 31, 2009 | 1,200.00 EUR | 23.18 EUR | 0.00 EUR | 0.00 EUR | EUR 2,984.95 |
| December 31, 2010 | 1,200.00 EUR | 35.42 EUR | 36.00 EUR | 0.00 EUR | 4,256.37 EUR |
| December 31, 2011 | 1,200.00 EUR | 48.13 EUR | 48.00 EUR | 0.00 EUR | EUR 5,552.50 |
| December 31, 2012 | 1,200.00 EUR | 61.09 EUR | 72.00 EUR | 0.00 EUR | 6,885.59 EUR |
| December 31, 2013 | 1,200.00 EUR | 74.42 EUR | 96.00 EUR | 0.00 EUR | 8,256.01 EUR |
| December 31, 2014 | 1,200.00 EUR | 88.13 EUR | 120.00 EUR | 0.00 EUR | 9,664.14 EUR |
| December 31, 2015 | 1,200.00 EUR | 102.21 EUR | 180.00 EUR | 0.00 EUR | EUR 11,146.35 |
| December 31, 2016 | 1,200.00 EUR | 117.03 EUR | 240.00 EUR | 0.00 EUR | EUR 12,703.38 |
| December 31, 2017 | 1,200.00 EUR | 132.60 EUR | 300.00 EUR | 0.00 EUR | 14,335.98 EUR |
| December 31, 2018 | 1,200.00 EUR | 148.93 EUR | 360.00 EUR | 0.00 EUR | EUR 16,044.91 |
| December 31, 2019 | 1,200.00 EUR | 166.02 EUR | 420.00 EUR | 0.00 EUR | EUR 17,830.93 |
| December 31, 2020 | 1,200.00 EUR | 183.88 EUR | 480.00 EUR | 0.00 EUR | 19,694.81 EUR |
| December 31, 2021 | 1,200.00 EUR | 202.51 EUR | 540.00 EUR | 0.00 EUR | EUR 21,637.32 |
| December 31, 2022 | 1,200.00 EUR | 221.94 EUR | 600.00 EUR | 0.00 EUR | EUR 23,659.26 |
| December 31, 2023 | 1,200.00 EUR | 242.16 EUR | 600.00 EUR | 0.00 EUR | EUR 25,701.42 |
| December 31, 2024 | 1,200.00 EUR | 262.58 EUR | 600.00 EUR | 0.00 EUR | 27,764.00 EUR |
| December 31, 2025 | 1,200.00 EUR | 283.21 EUR | 600.00 EUR | 0.00 EUR | 29,847.21 EUR |
| 12/31/2026 | 1,200.00 EUR | 304.04 EUR | 600.00 EUR | 0.00 EUR | EUR 31,951.25 |
| 10/28/2027 | 900.00 EUR | 268.24 EUR | 600.00 EUR | 0.00 EUR | EUR 33,719.49 |
Ultimately, with an interest rate of 1% per annum:
| Total deposits: | 24,250.00 EUR |
|---|---|
| Effective interest rate: | 3.14% p. a. |
| Interest: | EUR 2,977.49 |
| Bonuses: | 6,492.00 EUR |
| Final balance: | EUR 33,719.49 |