Savings interest is rising again – at the same time, many banks still charge “custodial fees” on large deposits. A solution to this is offered by call money accounts with high deposit amounts. Now there is also an interesting offer from Germany.

Rampant inflation is now causing interest rates to rise again. Home builders in particular were negatively surprised by the rapid rise in interest rates, because mortgage lending had become drastically more expensive within a few weeks. With a slight time lag, however, interest rates on savings are now also rising. And that’s good news for the battered savers who have not dared to invest their money in the stock market.

Several banks in Europe raised the conditions for savings deposits last week. This also includes Bankhaus August Lenz, which is subject to German deposit insurance. There, savers now receive 0.13 percent per annum on the call money account up to a maximum investment amount of 250,000 euros. As is usual in Germany, deposits at Bank August Lenz are protected by the German Bank Compensation Scheme (EdB) up to EUR 100,000. In addition, the voluntary deposit protection fund of the Association of German Banks (BdB), in which all private banks are organized, also takes effect. The account with Augst Lenz is now also an alternative option for those investors who may have to pay penalty interest on balances of more than 100,000 euros at their house bank.

You can open an account with August Lenz here through our partner Raisin.

For comparison: The next best German institute in the FOCUS online overnight money comparison is the IKB with just 0.05 percent p.a.

Anyone looking for higher interest rates will find what they are looking for at Renault Bank. It offers new customers 0.20 interest p.a. for three months. The French deposit insurance guarantees up to 100,000 euros for your savings. Click here to open an account at Renault Bank (in German).

Renault Bank also increased the conditions for fixed-term deposits at the beginning of May. You’ll find more about it here.

Also attractive are 0.15 percent p.a. on the call money account of Alpha Bank. However, it is based in Romania, where the European deposit guarantee of up to 100,000 euros also applies. Another French bank, mymoneybank, is just behind. At 0.14 percent p.a., it also offers slightly more than August Lenz.

Do you want even more choice for your savings? Click here for the current call money comparison from FOCUS Online.

There are higher interest rates for fixed-term deposits if you can leave them for several years: Even with a term of only two years, the inbank from Estonia is now up to 1.22 percent per year again. Here is the fixed deposit comparison.

To be fair, these interest rates are still far from enough to compensate for inflation, which was 7.4 percent in Germany in April. In order to achieve such returns, you cannot avoid investing in the stock market – for example with an ETF savings plan. However, you should have an investment horizon of at least five years in order to be able to sit out price fluctuations. The best providers for ETF savings plans and custody accounts can be found here.