Fixed-term deposit interest for an investment period of two years has already clearly exceeded the three percent mark. Now the first bank has broken through this sound barrier with a term of only one year. And German banks also offer attractive conditions.

In the competition for the highest fixed-term deposit interest, the BAi Bank from Portugal has broken a sound barrier: the Portuguese are offering 3.0 percent for a term of only one year. However, BAI requires a comparatively high minimum deposit of EUR 10,000.

In the FOCUS online fixed deposit comparison with a term of 12 months (one year), places one to four are now just 0.05 percentage points apart. Three providers from Lithuania ranked second to fourth. Previous leader PayRay continues to offer 2.98 percent, followed by sme Bank with 2.97 percent and Siauliu Bankas with 2.95 percent. Up to 95,000 euros (PayRay) or 100,000 euros (sme and Siauliu as well as BAI) are accepted. This also corresponds to the deposit guarantee according to EU requirements. PayRay and Siauliu also expect a minimum deposit of 5000 euros, while sme does not require a minimum deposit at all.

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In the fixed deposit comparison by FOCUS online over two years, PayRay is clearly ahead with currently 3.36 percent per year, followed by sme Bank with 3.14 percent and Inbank from Estonia with 3.12 percent.

For comparison: Bank11 offers the best one-year fixed-term deposit of a German bank with an interest rate of 2.3 percent. With a term of more than two years, the highest offer comes from pbb direct with a smooth 3.0 percent, followed by Bank11 with 2.85 percent.

On the other hand, even longer terms are hardly worthwhile: at 3.36 percent per annum, the front-runner PayRay offers the same annual interest rate for a three-year fixed term as for two. Among the German banks, with 3.15 percent, pbb direct is still a little better at this term.

On the other hand, if you only want to park your money for six months, you will find the best conditions at the Portuguese institutes BAI and BNI with 2.3 percent each. However, these apply per annum as is customary in the industry, so with a six-month term, half of them are credited.

Would you rather remain flexible? Then you will find the current top offers for call money here. There, too, the current leader from Germany has interest rates of up to 2.1 percent.

Do you still have credit lying around in your savings book or even in your checking account with almost no interest? Then now is the time to switch. Start with a portion, then you can add more later if interest rates continue to rise.

Of course, the higher interest rates are still not enough to offset the rising inflation rate. But doing nothing is even more expensive: With a currently interest-free credit balance of 20,000 euros, you are giving away 600 euros in interest per year, which pbb, for example, would pay you directly on it.

Would you like to keep an eye on interest rates for a while longer? Then you should follow the current conditions regularly in the FOCUS fixed-term deposit comparison online.

Important: With fixed-term deposits, you determine at the beginning how long you will deposit the money. A premature disposal is usually not possible.

Tip: Since further interest rate increases are to be expected in the current competition, you should proceed in stages. With the so-called staircase strategy, you divide your savings into different pots. You invest your buffer for emergencies in the call deposit account, the other parts in fixed-term deposit accounts for, for example, six months, twelve months and 24 months. In this way, you always remain flexible, even if interest rates continue to rise, and you can already use the next higher offer after 6 months.