The race for savings is in full swing. Most recently, the banks have been raising their interest rates on a weekly basis. With Bank11, a German bank also ranks in the top three – with a very high level of deposit protection.

Even if the interest on overnight and time deposit accounts is far from sufficient to compensate for the inflation rate: Better times are dawning again for savers. The era of zero interest rates is over and penalty interest rates will soon be a thing of the past.

Because in the market for day and time deposit accounts, competition for new savings has long since broken out. New banks with attractive conditions appear almost every day, so that there are already 2.00 percent for fixed-term deposits with an investment period of two years – per annum, of course.

Now the wave of interest rate hikes is also affecting overnight money. So far, banks from the Baltic States, Italy and Croatia in particular have offered interesting overnight interest rates. But German savers are cautious and reluctant to entrust their money to banks in these regions.

But now there is no longer an excuse to leave your money in the current account: Bank 11 from Neuss has been in the top three of the FOCUS overnight money ranking for weeks with an interest rate of 0.3 percent, guaranteed for three months On-line. Because the institute is based in Germany, the German deposit insurance applies to all savings deposits up to EUR 100,000. Basically, significantly higher credit balances are also safe, because all customer deposits in savings accounts at Bank 11 are also protected by the deposit protection fund of the Federal Association of German Banks (BdB), in which the German private banks have joined forces.

Incidentally, the owner of Bank11 is the Werhahn Group, based in Neuss, a long-established German family business with a 175-year history, whose companies include the knife and scissor manufacturer Zwilling. Bank11 itself is primarily active with loans and financing products for the automotive trade.

The second-placed German institution in the call money comparison is currently the pbb direct bank. It offers 0.15 percent on the call money.

Savers who include other EU countries will find what they are looking for in France: Renault Bank is even offering 0.45 percent directly there. Behind it ranks in the FOCUS online overnight money comparison Banca Progetto (Italy) with 0.35 percent. Like Bank 11, Advanzia from Luxembourg – hitherto best known for its credit card offers – also offers 0.3 percent for overnight money with a three-month interest rate guarantee.

The easiest way for savers to fill up most foreign accounts is via an account with the provider Weltsparen, which is why our registration route leads there in these cases. The IIG Bank is only available through the provider Zinspilot, which – like Weltsparen – belongs to the Raisin Group.

Are the call money rates mentioned too low for you? Then take a look at our fixed deposit comparison. Interest rates of up to 2.028 percent per year with a term of five years lure there.