The ING International Survey (IIS) on savings has revealed that more than one-third of Luxembourg are concerned about low interest rates.
According to the IIS, 35% of Luxembourg residents surveyed say they are worried about low interest rates. This is compared to the European average of 39%.
However, in terms of savings management, 60% of those surveyed said that they had not made any changes and that their savings remained in a bank account.
44% of residents said they are less satisfied with their savings (compared with 33% in Europe), whilse 22% expressed concern about their pension (compared with 23% in Europe) and 15% said they had spent more (compared with 18% in Europe).
Indeed, some are taking advantage of low interest rates to repay their loans over a longer period (7% in Luxembourg compared with 10% in Europe), whilst some have repaid their loans in full (12% in Luxembourg compared with 10% in Europe) and others have taken on more debt (14% in Luxembourg compared with 10% in Europe).
In response to the question of what they would do with 10% of their savings should they ever find themselves with a lot of money, 45% said that they would keep it in a savings account (compared with 35% in Europe), 39% would invest it in real estate (compared with 25% in Europe) and 16% would invest it in financial products (compared with 19% in Europe).
