Savers can breathe a sigh of relief: more and more banks are once again paying considerable interest for overnight and time deposits. But investors have to examine the offers carefully. Here are the most lucrative offers.
The interest rate turnaround has reached savers, writes the comparison portal Verivox on the current credit interest rates. A financial institution is now paying significantly more than one percent – depending on the term of the investment. Overall, the money experts have determined that interest rates have tripled since the beginning of April 2022.
Despite this pleasing development, savers must be clear: the high inflation of currently 7.6 percent is gnawing at assets, even with the currently most lucrative interest rates. But that is precisely why it is important to secure the highest possible interest rates. This is the only way to curb the monetary depreciation.
FOCUS Online, together with the online comparison portal Verivox, lists the financial institutions that offer comparatively lucrative interest credits.
The data is based on the bank offers for interest on call money and fixed-term deposit offers for 24, 12 and 6 months.
The interest rate comparison includes two types of money houses:
Reason for thinking outside the box: Interest rates in other countries can be higher than in Germany. There is no exchange rate risk if the country in question also has the euro as its currency. This applies to the Netherlands and Austria, for example.
The comparisons are based on current overnight and fixed-term interest rates from around 800 banks and savings banks. The interest shown is evaluated for an investment sum of 10,000 euros.
Important: All offers in the evaluation can be completed from Germany – in some cases via special deposit brokers such as the large providers Weltsparen or Zinspilot.
Oliver Maier, Managing Director of Verivox Finanzvergleich GmbH, explains: “While inflation keeps climbing to new heights, interest on savings remains at a low level. But at least: If you compare offers, you can currently secure interest rates of up to 1.80 percent for fixed-term deposits with a two-year term.” That means: For an investment sum of 10,000 euros, there are 180 euros a year.
The interest professional encourages savers: “In the next few weeks, the interest rate rally should pick up speed!” That’s why his advice is: savers should remain flexible and not commit themselves for too long, because then they can’t react to more lucrative interest rates.
Here investors will find an overview of the best interest rate offers in the EU (as of July 6, 2022). Deposits in EU countries are always protected up to EUR 100,000 per bank and customer via the deposit protection system of the respective country.
In addition, the Verivox experts have put together an overview of providers from countries with very good credit ratings. In addition, the interest professionals name the best offers from Germany.
Bank deposits – i.e. money in call money, time deposit and current accounts as well as savings and savings certificates – are protected by law within the European Union up to an amount of 100,000 euros per customer and bank. However, each country has its own security systems in the event of a bank failure. The following applies here: The worse the creditworthiness of a state, the higher the probability that these systems will not work as promised. In Germany, in addition to the statutory deposit insurance, there are also voluntary insurance systems. They are intended to ensure that customers in the event of a bank failure also get larger amounts or even their entire money back. However, should a systemic crisis affect the entire banking sector, deposit protection in every EU member state will likely reach its limits.
Here you can compare all offers for call money accounts:
Best interest rates in the overall market:
Best interest rates from top-rated countries:
Best interest rates with German deposit insurance:
24-month fixed-term deposits bring significantly higher interest rates than overnight money that is available at any time. This is the reward for the long commitment. Banks from Eastern Europe are ahead.
Here you can compare all fixed deposit offers:
Best interest rates in the overall market:
*Note on deposit insurance in Sweden: In this EU member state, deposits are protected up to 1,050,000 Swedish kronor per bank and customer. This currently corresponds to around 98,000 euros.
Best interest rates from top-rated countries:
*Note on deposit insurance in Sweden: In this EU member state, deposits are protected up to 1,050,000 Swedish kronor per bank and customer. This currently corresponds to around 98,000 euros.
Best interest rates with German deposit insurance:
Best interest rates in the overall market:
Best interest rates from top-rated countries:
*Note on deposit insurance in Sweden: In this EU member state, deposits are protected up to 1,050,000 Swedish kronor per bank and customer. This currently corresponds to around 98,000 euros.
Best interest rates with German deposit insurance:
Best interest rates in the overall market:
Best interest rates from top-rated countries:
*Note on deposit insurance in Sweden: In this EU member state, deposits are protected up to 1,050,000 Swedish kronor per bank and customer. This currently corresponds to around 98,000 euros.
Best interest rates with German deposit insurance:
*only available for customers with a current account at the bank
Of course, savers can also put their money in an interest account at a bank outside the euro zone – for example in Great Britain or Sweden.
In doing so, however, they must keep an eye on several risks: the liability guarantee in the event of a bank failure in another country may be below the regulations in Germany. In Germany, deposits of up to EUR 100,000 per account are protected by law.
A second major danger is possible exchange rate risks. If the saver invests his money in dollars, for example, his income depends on the exchange rate between the euro and the dollar. If the value of the dollar falls during the investment period, the saver ends up getting back less euros than he originally invested. And that despite the accrued interest. You might also be interested in:
Profit from the movements on the financial markets. The basis for this is always a depot. Here you will find offers that suit your needs.
The FOCUS Online Guide answers all important questions about pensions on 135 pages. Plus 65 pages of forms.
