A New Initiative from Eurobank aiming at the “revival” of Savings Accounts and offering annual interest rate of 3%

EurobankEFGBank, in recognition of the increasing needs of Greek society and economy, and aiming at invigorating savings, restores and enhances the notion of Savings Accounts.

Having as a primary goal the support of savings of Greek households, that according to official data present the lowest percentage (i.e.16,1% of GDP) among the Euro zone countries, where the average percentage rate reached the 19,6%, Eurobank adopts an new, challenging approach of enhancing Savings Accounts, which , during the last  years, tended to be substituted by Current Accounts.

Evaluating all the above circumstances, Eurobank becomes once more a pioneer by creating a new savings account under the name of “Mega Savings Account”.

The “Mega Savings Account” constitutes a new savings account that offers the highest interest rate of the market, that is 3% from the first deposited Euro, irrespectively of the total amount deposited and free of any imposed charges and fees. In parallel to that, the depositor is having his/her money available whenever needed and preserves the high interest rate under the condition that no more than 3 debit transactions will take place each month.

The rapid increase of the needs of Greek households, in conjunction to the low interest rates in Savings Accounts had resulted in the decline, since January 2006, of the amounts deposited in Savings Accounts in Greece by €1.4 billion, ranking our country in the last place among the totality of Euro zone countries.

The “Mega Savings Account” is targeted to complement in the best possible way Eurobank’s effort for thorough and integral service of their clientele. In this context, the Bank has introduced since February 2007 the innovative program of “Free Banking Transactions” connected to the basic account of individuals and professionals, through which they realize everyday banking transactions with no cost.

By having a broad, second in size and national coverage branch and ATM’s network, by providing the flexibility of banking transaction during afternoons and Saturdays via the 10 selected branches in Athens and Thessaloniki, and through the Europhone and E-Banking services, Eurobank justifies its leading position for offering the best service to its clientele, wherever it is based, 24 hours a day, 365 days per year.