They are not good times for investment, much less for savings for bank customers. It is one of the consequences of the cheaper money by the monetary organs of the European Union, which have lowered interest rates to 0%, in an unprecedented historical event in recent decades. The first effect has been felt in the products destined for savings (deposits, accounts, bank promissory notes, etc.) that have seen how they have returned to reduce your trade margins. At the moment it is difficult to find a model with these characteristics that offers a yield of more than 0,50%.
Things are not much better on investment Every time it is much more difficult to make optimal use of savings. The many uncertainties gripping the financial markets are causing returns to decline. Even with levels of risk that can harm the positions opened by small and medium investors. During the first six months of this year, the average of the international indices has depreciated by around 2%.
From this unrewarding scenario, there are fewer and fewer opportunities for bank users to try to achieve a clear improvement in the balance of their personal assets. They only have the strategies of financial institutions that have designed a series of actions whose main objective is retain your top customers. And of which you can take advantage of from now on, if you show a coincidence in the approaches of these banks.
Guaranteed funds
This class of products is one of the main banners that banks provide so that users remain in their commercial network. They are based on a very simple strategy, which starts from the offer of a minimum return, and which in all cases is guaranteed. The great attraction of these funds is that not a euro of savings is lost. Offering an interest rate that ranges between 1% and 3% per year. Of all, they have an excessively long term of stay, which rarely exceeds five years. It is aimed at a very well defined customer profile: elderly, with a large savings bag, and who is more defensive in their investment approaches.
They tend to become an alternative to the main models for saving customers. Not surprisingly, it is increasingly difficult to improve the performance of current accounts. This only occurs through the high yield accounts, and on the other hand for the most demanding balances. If both strategies are applied, the holders of these banking products can reach the 2% barrier, even slightly more through the most aggressive proposals of the banks.
The evolution of installment deposits does not differ much from these approaches. His link to other financial assets it is one of the few possibilities that are opened for each year the personal accounts of the users show a buoyant balance. The greater link with the financial institution, on the other hand, will be another of the paths to take if you want them to offer you a return greater than 1%. And as a last option there is always the resource of lengthening the terms of permanence, starting from savings models from 24 months. Although with a better interest not entirely overwhelming.
savings products
To prevent customer flight, banks have no choice but to provide them with additional benefits. And that in many cases go through the direct elimination of commissions and other expenses in their management or maintenance. They proliferate through the current banking offer, and that is accompanied by other complementary measures. Among which the direct debit of the payroll (or pension) and the main household bills (water, electricity, gas, etc.) stand out. Getting to the point that they return up to 3% of the amounts paid through this strategy.
The measures to make these products more attractive are even reaching the gift of suggestive gifts in exchange for loyalty with the bank. Not for another purpose than to go to the offers of the competition. And where they do not hesitate to generate even more profitable deposits, which can reach levels of 5% in some very specific proposal.
Another stimulus to improve the performance of accounts and deposits is facilitate your online hiring. In addition to the convenience of the format, he is joined on this occasion by the increase in his remuneration. However, it will not be anything spectacular, but only a few tenths more than its original rates. Although, in any case, it is an initiative that is increasingly used by banks.
Corporate bonds
The lack of profitability in the most prominent savings and investment products is leading to the diversion of contributions towards more innovative models for clients, and perhaps in some specific case that is also original. They are corporate bonds, which are offered by companies so that an average return of around 2% can be achieved. The main problem involved in hiring is that will require more time in their stay, between 3 and 5 years that you will have to keep the savings immobilized until its expiration date.
The offer of this kind of bonds is very wide, coming from all business sectors (automobiles, telecommunications, pharmaceuticals, food, etc.). It is proposed as another option to the life saving products, and of which you may be disappointed by the unattractiveness of the ready-made designs. To the point that you can choose between many investment funds that are based on this financial asset, that is, corporate bonds.
Investment fund portfolio
If you do not want to complicate your life excessively, you will have no choice but to go to investment funds. Not in vain, you can get a guaranteed wallet. It will give you minimal returns, but that you can count on every year. To increase margins you will have to take greater risks, through moderate equity funds, or what is better, through mixed funds. The latter combine assets, both fixed and variable income, in proportions that will depend on the profile you present as a saver.
Another solution is represented by the monetary funds, but with a practically zero performance during the last months. And that will only help you preserve your life savings. As a consequence of all these strategies, the only formula to improve your assets would be to risk your open positions. And in this sense, equities are the best scenario in which this possibility can develop.
Contract more favorable lines of credit
Although it has nothing to do with saving, one way in which claims from financial institutions are channeled is by hiring more competitive credits and among those that also include mortgages. Customer loyalty will be a decisive factor in meeting the objectives. It is no coincidence that as more products are contracted (insurance, pension plans, investment funds, etc.) with the entity, the financing channels are presented with lower interest rates, and that they can reach a maximum of 2% in the best of scenarios.
These commercial strategies are used more aggressively in mortgage loans. The drop in Euribor interest has generated that the offers of the banks lead to offer spreads below 1%. But it is not only in this aspect that the differences can be noticed. Also in the elimination of the main commissions and other expenses in its management. Finally, they are presented in their offers without the floor clause. And in this way, take advantage of the positive evolution of the European benchmark index.
Free cards for customers
Now it is no longer necessary to pay for the contracting of some of the many cards (credit and debit) that banks sell. There are many ways to get them completely free, even in its maintenance. It is another of the hooks that banks use to retain customers, and not go to the competition. It will only be necessary to open a checking account, sign a savings plan, or direct payroll or regular income so that from now on this operation does not involve any monetary outlay for clients.
Some formats in plastics, on the other hand, will allow you to make this next vacation every time you have to go to the gas station to cost you less. They generate bonuses of between 1% and 3% in each of the operations, and which are completed with discounts on a series of articles and products at the service stations.
The advantages that you can import from your cards do not stop here, since a series of discounts in the prices of many tourist services (hotels, travel agencies, flights, car rental, vacation packages ...). And in any case, it can produce more than desirable effects on your checking account balance. In the most aggressive formats, they come to provide you with paying for purchases in some commercial establishments in several months, but without any kind of interest.
There are many hooks, therefore, that banks market so that you do not let yourself be seduced by the proposals of the competition. Now it will only be left to elucidate if it is really worth it, or on the contrary, it can become a new source of expenses. The last word, after all, you will always have yourself.