The interest with 10,000 euros

ING Germany has increased its overnight interest rates. The bank is now paying its customers 3.5 percent interest on overnight deposits. The catch: the term is limited to six months. We’ll tell you how much money you can make with an investment of 10,000 euros. A calculation example.

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. The turnaround in interest rates is still not popular with many savers. Because numerous banks are still acting hesitantly and fobbing off their customers with low or zero interest rates.

ING Germany 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. ING Germany, for example, has now increased its call money rates again.

The bank is now paying its customers three 3.5 percent interest on overnight deposits for a term of six months. That goes from the official website of ING out. The bank will thus increase its overnight interest rates by 0.5 percent.

Open an extra call money account with ING now

The call deposit account of ING

For comparison: Previously, the interest rate was three percent. Customers registering with ING for the first time Open an extra account (overnight money).receive the new interest rate of 3.5 percent immediately for six months on deposits of up to 50,000 euros.

The catch: The currently valid base interest rate, which is currently 0.6 percent, then applies. The bottom line is an overnight interest rate of around two percent per year. According to reports, however, the base interest rate should rise to one percent in July. This should also apply to deposits over 50,000 euros.

Call money interest: This is how high the interest is with 10,000 euros saved

ING is ahead of almost all banks with its overnight interest rates. However, brokers such as Trade Republic (2 percent) and Scalable Capital (2.3 percent) as well as “Mein Bank” (2.5 percent) promise comparable or higher interest rates per year.

With the increased call money interest of the ING, you can currently receive 175 euros within six months with a savings amount of 10,000 euros. With the then applicable base interest rate of 0.6 percent, it would be 205 euros per year. With a base interest rate increased to one percent: 225 euros per year.

Open an extra call money account with ING now

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