Savings in focus: Michael Fritz on interest rates and future opportunities!

Savings in focus: Michael Fritz on interest rates and future opportunities!

On November 5, 2025, people in Germany and Austria will be looking at the savings behavior of citizens, a topic that has come into particular focus in recent weeks. In an interview with Michael Fritz, CEO of Kreissparkasse Böblingen, it becomes clear that Germans are cautious by nature and prefer fixed interest rates to a speculative approach. What is particularly interesting is that World Savings Week, which took place from October 27th to 31st, was celebrated in many banks, with children bringing their piggy banks and receiving small gifts. Fritz describes this annual highlight as a shared event that promotes financial education among the younger generation.

But what does “saving” actually mean? According to the language portal Wiktionary, the word “spare” comes from Middle Dutch roots and has evolved over the centuries into a term that means “to leave untouched” or “to keep”. Synonyms like “ontzien” make it clear that saving is often about cleverly withholding money or resources. In everyday use, this gives you the opportunity to make provisions for later, be it for a new car or personal dreams.

World Savings Day and its meaning

World Savings Day, which was founded in 1924, celebrated its second anniversary in 2024 after its 100th anniversary in 2023. This makes it an important event in every saver's calendar. The National Bank Governor Martin Kocher emphasizes the importance of financial and economic knowledge, especially in economically turbulent times. Interestingly, a survey shows that two-thirds of respondents found that World Savings Day had no impact on their savings behavior. Nevertheless, around 30 percent are more concerned with financial topics on such action days and thus show a growing interest in money issues.

The focus in Austria is particularly on savings accounts, which remain very popular with almost 80 percent of the population. Despite the limited opportunity to compensate for inflation, many still prefer this classic form of savings. In contrast, interest in securities and funds continues to rise - from 28 percent in 2015 to almost 40 percent today. The recent interest rate increases by the European Central Bank (ECB) have also left their mark here.

Current interest rate situation and outlook

The ECB has increased the key interest rate from 0 to 4.5 percent since 2023 and is not planning any further interest rate cuts for 2025, at least so far. The deposit interest rate has currently been two percent since June 2025, so savers can get a little more out of their deposits. According to experts, an average interest rate for overnight deposits in digital offerings rose to 1.376 percent at the end of 2023. In comparison, the interest rate for branch offers is 0.483 percent.

For a one-year commitment, the interest rates at the end of 2023 already look encouraging at 2.847 percent for digital services and 2.668 percent for branch offers. It remains to be hoped that these changes will also have a lasting impact on savings behavior. Savers are therefore well advised to find out about current developments and, if necessary, adapt their saving behavior.

Overall, the topic of “savings” remains a current point in the economic discourse. There are exciting times ahead of us, which also represent a good opportunity for everyone to take their financial future into their own hands.

Read more about Michael Fritz's expertise and the current savings trends in Germany and Austria in the articles from szbz.de, Wiktionary and kleinezeitung.at.