In the fixed-term deposit comparison for a period of two years, the bank PayRay from Lithuania continues to lead the table of conditions. But the Ford Bank is not far behind – and even with German deposit insurance.

There is another exciting change this week in the race for the fixed deposit account with the best interest: The Ford MONEY Bank is now offering new customers 2.8 percent per annum over a period of two years. Because the German deposit insurance applies to Ford MONEY, the offer should be interesting for many savers in this country. Especially since up to one million euros per customer is accepted at this interest rate. For comparison: PayRay limits the investment sum to 95,000 euros.

Open a fixed deposit account at Ford Money Bank here

The Lithuanians are the current leader in the fixed deposit comparison of FOCUS online. PayRay can come up with an interest rate of 3.05 percent p.a.

Over the term of twelve months, Alpha Bank from Romania is ahead with 2.75 percent, followed by Banco do Brasil with 2.7 percent. Because this is the Viennese branch of the Brazilians, the Austrian deposit insurance applies to deposits. The illimity bank from Italy offers 2.65 percent.

For all banks mentioned, the European deposit insurance applies to balances of up to 100,000 euros, with Austria having the best country rating with AA, which means that it would be the most solvent in the event of insolvency.

In Germany, swk Bank has replaced the previous leader, GEFA. swk is offering 1.95 percent for a twelve-month term, and GEFA Bank is offering 1.90 percent. Important difference: swk’s offer is valid for up to 250,000 euros, GEFA says it even pays interest of up to 10 million euros with its high interest rate. However, the people of Wuppertal also expect a minimum deposit of 10,000 euros. GEFA Bank belongs to the Société Générale Group, but, like swk, can still offer German deposit insurance including additional protection from the deposit protection fund of the Association of German Banks (BdB).

To the offer of the SWK Bank

To the offer of GEFA Bank

There were also adjustments to the interest rates for an investment period of six months. There, the European Merchants Bank (EM Bank) from Lithuania has the highest offer with 1.88 percent, followed by the Alpha Bank from Romania with an interest rate of 1.85 percent. Both figures are extrapolated to one year. At all banks, the European deposit guarantee applies to deposits of up to EUR 100,000.

Would you rather remain flexible? Then you will find the current top offers for call money here. There, too, there are already interest rates of up to 1.6 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 560 euros in interest per year, which Ford Bank, for example, would pay you 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 put your buffer for emergencies on the call money account, the other parts on fixed deposit accounts for six months, twelve months and 24 months, for example. 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.