Photo: Jessica Gow / Scanpix
despite low yields

Swedes have more in the bank than ever before

This June, Swedes had more money in the bank than every before, despite the fact that interest rates are so low, reports Swedish Radio News.

Before the financial crisis in 2007, Swedes had about SEK 700 billion in bank accounts. Today, that amount has nearly doubled, and Swedes now have a combined total of about SEK 1,250 billion in the bank.

Many people are skeptical about stocks, and if the stock market is turbulent and goes down, then people tend to put money in savings accounts, according to Maria Landeborn, an economist at SBAB.

However, Landeborn sees problems with this. Businesses need to be able to get capital by selling shares, she says. Furthermore, people who are saving money for the long term would do better to invest in stocks or mutual funds, she believes, because the returns are better in the long run.

Our journalism is based on credibility and impartiality. Swedish Radio is independent and not affiliated to any political, religious, financial, public or private interests.
Du hittar dina sparade avsnitt i menyn under "Min lista".