Savings deposits: Almost half of Germans fear for savings
46 percent of Germans doubt the safety of their savings deposits
The recent banking crisis is leaving its mark. Almost half of the citizens do not trust Chancellor Olaf Scholz’s statement that the savings are safe. East Germans in particular are skeptical.
After the turbulence at some banks in the USA and the Swiss Credit Suisse, Chancellor Olaf Scholz (SPD) emphasized that the deposits of savers in this country are safe. Germans are divided on this issue, according to a Forsa poll commissioned by the star shows. Just 50 percent trust the assurance, but almost as many have doubts (46 percent). In fact, Scholz had renewed the Merkel-Steinbrück guarantee from the Lehman crisis in 2008.
Confidence in the stability of savings deposits is particularly high among supporters of the SPD (73 percent) and the Greens (63 percent). The skepticism among AfD voters is above average. 78 percent of them doubt the chancellor’s guarantee. Skepticism also prevails among East Germans (56 percent). Another striking finding: Confidence in bank deposits increases with rising income. While Germans with a monthly net household income of less than 2,500 euros are more worried about their savings (48 to 47 percent), 58 percent of higher earners (4,000 euros and more) believe in the stability of the banking system – but 41 percent have doubts about them too.
The data was collected by the market and opinion research institute forsa for the RTL Group Germany on March 23 and 24, 2023. Database: 1002 respondents. Statistical error tolerance: +/- 3 percentage points