The race for savings is picking up speed. Within a few weeks, overnight interest rates have risen by more than 0.4 percent. As of today, there is a new leader: Renault Bank is offering new customers 0.45 percent.
Even if savers continue to fear that high inflation will eat away at the purchasing power of their savings, there is good news: More and more banks are raising their interest rates in order to remain competitive in the competition for new overnight and time deposit customers.
Fixed-term deposits already include 1.55 percent – over a term of just twelve months. And when it comes to overnight money, there is almost a weekly change of leadership at the top of the FOCUS online overnight money comparison.
As of today (as of July 21, 2022), Renault Bank has now taken the lead. The French offer new customers 0.45 percent per annum. This interest applies up to a savings balance of 250,000 euros, previously the limit was 100,000 euros. Deposits of up to EUR 100,000 are protected throughout Europe in accordance with EU guidelines, and up to EUR 200,000 for joint customers. At Renault Bank, the deposit protection of the French state, which has a very good credit rating, applies. So your savings are safe there. The contractual partner for the account is the German branch of RCI Banque S.A. You can open the call money account right here.
If you want to get an up-to-date overview of the best offers in the interest rate race, you should take a look at the FOCUS online call money comparison every day. Compare the best offers for 2022 and find the right money market account with attractive interest rates.
If you only want to deposit your money with German banks, you will find the best offers with German deposit insurance here
Renault Bank has also raised interest rates on fixed-term deposits for a term of 24 months: to 1.35 percent per year. However, compared to the competition, this offer is more in the middle. Providers such as the Italian Illimity Bank even offer up to 1.95 percent for 24 months. You can find the front runners across all maturities from six months to five years in the FOCUS online time deposit comparison.
