In the race for overnight interest rates, German banks are currently ahead. ING has only been offering a one percent rate plus a four-month interest rate guarantee for a week. Now Bank11 takes the lead: with an increase to 1.11 percent.

After ING broke the one percent barrier for the first time last week with a top overnight interest rate of 1.0 percent, interest rates continue to rise. As of today, the best offer in Europe comes from Bank11 – also guaranteed for four months and with German deposit insurance. The BNF Bank from Malta is currently offering 0.8 percent. Behind them are pbb direct and Renault Bank with 0.75 percent. It is to be expected that other competitors will soon follow suit in order not to fall behind in the race for new savings customers.

Bank11 is now offering savers 1.11 percent interest on call money. The offer includes a four-month interest rate guarantee, but only applies to new customers. Anyone who has not yet invested money with Bank11 is considered such. For existing customers, on the other hand, the previous offers of 0.3 or 0.5 percent interest per annum continue to apply, depending on the date on which the account was opened. These conditions only apply up to a credit of 100,000 euros. In addition, there is only 0.05 percent for new customers. If the deposit exceeds 1,000,000 euros, there is only 0.01 percent interest.

The ING had recently taken the lead with a decent increase in interest rates. In addition to an interest rate of 1.0 percent, the German deposit insurance and a four-month interest guarantee also apply here.

Open an overnight deposit account with ING here

The Maltese BNF Bank currently ranks third with 0.80 percent. However, it cannot come up with an interest rate guarantee.

Behind them, Renault Bank caught up directly with pbb at the beginning of October. Both offer 0.75 percent per annum on call money. The French also guarantee this interest rate for three months. For existing customers who already have an account with Renault Bank, the interest rate has been raised to 0.60 percent. This is also very attractive compared to existing customer offers from other banks.

Open an overnight money account with pbb directly here

Open an overnight deposit account at Renault Bank here

At all of the banks mentioned, the EU deposit insurance applies to a balance of up to 100,000 euros. For the BNF Bank, the state of Malta guarantees the assets with a credit rating of A. For the Renault Bank directly, the state of France guarantees the assets with a very good credit rating of AA. With AAA, the Federal Republic of Germany enjoys an absolute top credit rating. In addition, ING, Bank11 and pbb belong directly to the deposit protection fund of the Federal Association of German Banks (BdB), so that customer deposits there are secured with even higher amounts.

Are these call money rates still too low for you? Then take a look at our fixed deposit comparison. Interest rates of up to 2.3 percent for a term of only one year lure there. With two years, even 2.70 percent per year is possible. The best time deposit offer from a German bank comes from pbb directly with 1.75 percent for one year. The IKB Deutsche Industriebank offers 2.28 percent per annum for a two-year term with German deposit insurance.