Savings bank subsidiary increases overnight interest rates to 3.6 percent
The savings bank subsidiary 1822direkt increased its overnight interest rates. The promise: 3.6 percent interest on overnight deposits. The catch: the offer is only valid for a period of six months. The base interest rate then applies.
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.
1822direkt increases call money interest to 3.6 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, as did the DKB.
Now the 1822 is following suit. The subsidiary of the Frankfurter Sparkasse even promises its customers 3.6 percent call money interest. That goes from the official site of the direct bank. However, as with ING, the offer is only valid for a period of six months. In the case of the DKB, there is even a fixed campaign period from August 1, 2023 to January 31, 2024.
Open an overnight deposit account with 1822direkt now
Open an overnight deposit account with 1822direkt
For comparison: Previously, the interest rate for the 1822direkt was three percent. According to the Sparkasse subsidiary, the new call money interest rate of 3.6 percent applies “to people who have not had a call money account with 1822direkt within the last 12 months”. There is no minimum investment. The maximum deposit is 100,000 euros.
The 1822direkt 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 for opening. After the six-month promotional period, the direct bank’s standard interest rate, which is currently 0.6 percent, will come into effect.
For a period of twelve months, the bottom line is that interest is 2.1 percent. Interest is credited annually – at the end of each year. Anyone who also concludes a securities savings plan within the first four months of opening a call money account or makes three trades at 500 euros each will receive the 3.6 percent interest for the entire twelve months.
Open an overnight deposit account with 1822direkt now
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