The interest rate race continues. In September, a French bank took the top spot in the interest rate table, currently at 0.7 percent. A German bank guarantees 0.6 percent interest for six months.

A record interest rate increase by the European Central Bank (ECB) and the need for fresh capital for the current lending business keep the race for savings among banks exciting.

In the overnight money comparison by FOCUS online, there was another change of leadership: a total of six banks from France, Germany and Spain are now courting overnight interest rates of 0.5 percent and more for new customers: My Money Bank and Renault Bank from France Consorsbank, GEFA Bank and Bank11 based in Germany, and Openbank, which belongs to the Spanish Santander Group.

My Money Bank offers savers 0.7 percent interest on call money and that from a minimum deposit of just one euro. Savers can take advantage of the offer through the product pool of the intermediary Zinspilot. Important: My Money Bank does not offer its savers an interest rate guarantee.

Open an overnight money account with My Money Bank here (advertisement)

On the other hand, there is an interesting interest rate guarantee from the German Consorsbank. It has even come up with something for the case of rising interest rates.

The Munich Consorsbank not only pays 0.6 percent interest on the money market account, but also guarantees the interest rate for six months. The highlight: If the overnight interest rate continues to rise within the six months, customers are automatically credited with the higher value from this point in time. Interest is credited quarterly. A free securities account is also included, which new customers can use to trade free of charge for the first six months.

Consors even offers to extend the guarantee for the promotional interest rate by another six months if the customer

Of course, the whole thing comes with German deposit insurance and no minimum deposit.

Open an overnight deposit account with the Consorsbank here (advertisement)

Renault Bank is currently in 3rd place, having been the leader in July. With 0.55 percent interest for new and existing customers, the offer of this French bank continues to be very attractive. Open an overnight deposit account at Renault Bank here

Openbank, which belongs to the Spanish banking group Santander, even guarantees the mentioned 0.5 percent for a full twelve months. However, this fixed-term deposit-like offer is subject to further conditions. Customers have to open a checking account at the same time and thus bind themselves unusually closely to the new bank. If you wanted to change banks anyway, that’s no problem. However, some customers may shy away from setting up a completely new bank account right away.

Open a current account and money market account at Openbank here (advertisement)

At all of the banks mentioned, the EU deposit insurance applies to a balance of up to 100,000 euros. France, with a very good credit rating of AA, guarantees the credit for My Money Bank and Renault Bank direct. With AAA, the Federal Republic of Germany enjoys an absolute top credit rating. At Openbank, the Spanish state would step in for deposit insurance up to 100,000 euros. Spain receives Standard from the rating agency

Are these call money rates still too low for you? Then take a look at our fixed deposit comparison. Interest rates of up to 2.2 percent for a term of only one year lure there. With two years, even 2.45 percent per year are possible. The best time deposit offer from a German bank comes from SWK Bank with 1.45 percent for one year. Ford Bank offers 1.9 percent per annum for a two-year term with German deposit insurance.