Dhe consumer prices in Germany are rising faster than they have been for almost 30 years, and at the same time credit has become cheaper. The real interest rate has fallen significantly, as current calculations by the online comparison portal Verivox for WELT AM SONNTAG show. The mean interest rate of all installment loans brokered via Verivox was 2.99 percent in November. Consumer prices rose by 5.2 percent compared to the same month last year.
The median rate was evaluated – half of all customers took out their loan at this or a lower interest rate. The real interest rate is often approximated by subtracting the rate of inflation from the interest rate. For November this would result in a real interest rate of minus 2.2 percent. If the exact calculation formula is used, it is minus 2.1 percent. For comparison: a year ago it was plus 3.4 percent.
“Since July, a majority has been able to take out installment loans at interest rates below current inflation,” says Oliver Maier, managing director of Verivox’s financial comparison. “This historical exception reached a new high due to the significant rise in inflation in November.” It is true that inflation rates are likely to fall again somewhat. Until then, says Maier, bank customers will pay less interest on borrowed money than this money loses in value at the same time.
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