Full coverage· Economy· Updated
Israelis Place Billions in Low-Interest Savings Accounts
Around 43% of funds moved to Israeli bank deposits in September, totaling 14 billion shekels, were placed in short-term accounts earning an average of 1.36% interest. Daily deposits attracted 6.3 billion shekels at less than 0.7% interest, potentially losing value to inflation.
2 newsrooms · 2 languages · since
Plus
What happened
- 01Israelis deposited 14 billion shekels in short-term savings accounts with an average interest rate of 1.36%.
- 02Daily deposits attracted 6.3 billion shekels at an average annual interest rate of just 0.67%.
- 03Low returns on short-term deposits risk eroding the real value of savings due to inflation.
- 04Fixed-term deposits of 6-12 months offered a higher average annual interest rate of 3.54%.
- 05Money market funds provide potential annual returns between 3% and 3.25%.
- 06Savers are urged to compare interest rates, terms, and fees to maximize their returns.
Longer-term deposits and money market funds offer significantly higher returns, prompting a call for savers to compare options carefully.
The coverage
2 newsrooms on this story
Who covered it
- LeftNone
- CentreNone
- RightNone
- HarediNone
- Arab1
- Other1
How it broke
See which of the 2 newsrooms broke it, and who waited
