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Savings banks and cooperative banks combine savings and lottery


A matter of luck: save with a competition
Image: plainpicture / OJO

Save, help and win, according to this motto, savings banks and cooperative banks have been combining fixed savings amounts for their customers with a lottery for many years. Yields – or a car – are only possible with luck. A comparison.

B.At the savings banks it is called “PS-Sparen”, at Wiesbadener Volksbank “Profitsparen”, at Frankfurter Volksbank “FVB-Chances-Sparen”. What all offers have in common is that customers buy a ticket that contains a fixed savings amount and a game share. At the Frankfurter Sparkasse, such a ticket costs 6 euros; of this, 4.80 go to savings and 1.20 euros to the lottery. The Frankfurter Volksbank offers the whole thing at half price: The gaming share is 60 cents. At the Wiesbadener Volksbank, EUR 1 of EUR 5 is intended for the lottery.

You can save and win in this form once a month. The money saved is paid out once a year. Only customers who have an account with the institute can buy tickets. None of the three banks have specified an upper limit for this type of savings, which becomes interesting again for some savers in times of zero and low interest rates for overnight and fixed-term deposits.

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