Europeans who keep savings in bank deposits are losing purchasing power due to the low interest rates offered by banks. According to a Revolut study, every €10,000 deposited represents a loss of €294 in purchasing power.
The Revolut study identifies €6.3 trillion in low-yield deposits spread across 20 European Union countries. This value represents a significant amount of savings that is not being properly capitalized on.
The situation occurs at a time when the European Commission is trying to encourage Europeans to divert their savings from bank deposits to capital markets. Brussels aims to boost investment in financial instruments such as stocks and investment funds.
Revolut, a financial technology company, presents this data as part of its effort to raise consumer awareness about the consequences of keeping money idle in savings accounts with low interest rates.
