Fixed deposit interest rates of 2.7 percent and more are now also being offered by large, well-known banks in Germany and France. The current newcomer in the top three is the major French bank Crédit Agricole with its subsidiary CE Consumer Finance.

A major French bank is now also involved in the race for the highest fixed-term deposit interest rates: CE Consumer Finance, which belongs to Crédit Agricole, took second place in the FOCUS online fixed-term deposit comparison for the 12 and 24-month periods. The French offer 2.7 percent interest for a one-year fixed-term deposit and even 3.0 percent per annum for two years. In addition, these interest rates apply to deposits of up to EUR 500,000, while the competitors from Italy, Lithuania and Sweden only accept EUR 100,000 at their top interest rates.

The Lithuanian bank PayRay continues to lead the FOCUS online fixed-term deposit comparison over a period of two years, followed by CE Consumer Finance and the Italian Cherry Bank, each with 3.0 percent. The Swedish Hoist Finance follows in fourth place with 2.95 percent.

The offer from Ford MONEY Bank, which offers 2.8 percent per annum for a period of two years – with German deposit insurance, remains very attractive. and for cash deposits up to one million euros. For comparison: PayRay and Hoist limit the investment amount to 95,000 euros.

Open a fixed deposit account at Ford Money Bank here

Over the term of twelve months, Alpha Bank from Romania is still ahead with 2.75 percent. But now the Crédit Agricole subsidiary CE is hot on her heels too. Together with the Banco do Brasil, the French offer at least 2.7 percent for a term of only one year with French deposit insurance and for savings of up to 500,000 euros.

Incidentally, Austria is responsible for deposits at the Banco do Brasil, because this is the Viennese branch of the South Americans. The illimity bank from Italy offers 2.65 percent.

For all the banks mentioned, the European deposit guarantee applies to balances of up to 100,000 euros, with Austria having AA and France having the best country ratings, i.e. 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 are also changes again in interest rates for an investment period of six months: adjustments. There, the European Merchants Bank (EM Bank) from Lithuania has now raised its interest rate to 2.22 percent, second place is now taken by the Avida Bank from Sweden with a smooth 2.0 percent, followed by the Croatian Banca Kovanica with 1.95 percent. Important for this term: apply extrapolated to one year. Customers who invest with EM Bank for about six months effectively receive 1.11 percent on their balances for this period, provided they are not able to invest again at that rate. At all of the banks mentioned in this category, 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, interest rates are already 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 Money 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 regularly follow the current conditions 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.