DKB increases overnight interest rates to 3.5 percent – but there is a but
The DKB has increased its call money rates. The promise: 3.5 percent interest on overnight deposits – for both new and existing customers. The catch: The offer is only valid for a six-month promotional period from August 1, 2023 to January 31, 2024.
With the change in the key interest rate in July 2022, the European Central Bank (ECB) Interest rate turnaround initiated. Since then, there has been interest on many call money and time deposit accounts again. However, the turnaround in interest rates is not going down well with many savers. Because numerous banks are still acting hesitantly and fobbing off their customers with low or zero interest rates.
DKB increases overnight interest rates to 3.5 percent
In order to counteract inflation, the ECB has therefore raised the key interest rate again in June 2023 clearly increased – to now 4.0 percent. Since then, more and more banks and brokers have jumped on the interest rate train and lured in with tempting offers. For example, ING Germany recently increased its call money rates to 3.5 percent.
Now the DKB is following suit. The direct bank also promises its customers 3.5 percent overnight interest. That comes from one official notice of the company. The bank is thus raising its overnight interest rates by 2.5 percent. As with ING, however, the offer is only valid for a period of six months. In the case of the DKB, only for a campaign period from August 1, 2023 to January 31, 2024.
Open an overnight deposit account with the DKB now
Open an overnight money account at the DKB
For comparison: Previously, the interest rate was one percent. According to the DKB, the new call money interest of 3.5 percent applies to both existing and newly opened call money accounts. According to reports, there is no maximum deposit.
The DKB instant access account is free for both new and existing customers and has no fixed term. A separate or joint checking account is required as a settlement account to open. At the end of the six-month campaign period, the direct bank’s standard interest rate will come into effect, but the amount has not yet been determined.
The deposit protection for a call money account at the DKB is 100,000 euros. Existing DKB VISA money market accounts are excluded from the current campaign. For comparison: ING is currently promising overnight interest rates of 3.5 percent. However, the investment amount is limited to 50,000 euros.
Open an overnight deposit account with the DKB now
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