The interest rate race continues. As of August 1, two providers from Germany and Luxembourg have now placed themselves at the top of the interest rate table. One of the two even guarantees the interest for six months.

The first rate hike by the European Central Bank (ECB) in eleven years has once again fueled the banks’ race for savings.

In the overnight money comparison by FOCUS online, there is another change of leadership at the start of the week: Advanzia from Luxembourg is now offering savers 0.5 percent interest on overnight money, guaranteed for three months. After that, the current interest rate would drop to a still respectable 0.25 percent. But of course this level can still change within the next three months. Important: The interest is only available with a minimum deposit of 5000 euros.

Open an overnight deposit account with Advanzia here

The Consorsbank also secretly increased its call money offer at the weekend – and that’s quite something. The Munich also offer 0.5 percent, even guaranteed for six months. The highlight: If the overnight interest rate continues to rise within the six months, customers will automatically be credited with the higher interest rate from this point in time. Interest is credited quarterly. A free securities account is also included for six months.

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



Of course, the whole thing comes with German deposit insurance.

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

Advanzia and Consors have thus relegated the previous leader, Renault Bank, to second place. With 0.45 percent for new customers, the French offer is still very attractive.

At all of the banks mentioned, the EU deposit insurance applies to a balance of up to 100,000 euros. In the case of Advanzia, in an extreme case, the state of Luxembourg would pay for the savings, which with AAA enjoys the same top credit rating as the Federal Republic of Germany. At Renault Bank direct, France, which also has a very good credit rating of AA, guarantees the credit.

Open an overnight deposit account at Renault Bank here

For comparison: The second-best call money offer from a German bank with German deposit insurance comes from Bank11 with 0.3 percent.

Open an overnight deposit account at Bank11 here

Are these call money rates still too low for you? Then take a look at our fixed deposit comparison. Interest rates of up to 1.65 percent for a term of only one year lure there. With two years, even 2.05 percent per year is possible. The best time deposit offer from a German bank comes from PEAC Bank with 1.3 percent for one year and 1.5 percent per annum for two years.