These 5 banks lure with the highest interest rates
The time of low interest rates seems to be over. Because after the European Central Bank has gradually increased the key interest rate, more and more financial institutions are tempting with lucrative returns. We therefore present five banks with the currently highest interest rates on your fixed deposit.
Low interest rates on money market or time deposit accounts? That time seems to be over. Because: The European Central Bank (ECB) has it Key interest rate gradually increased – to 3.75 percent. The ECB has thus laid the foundation for rising interest rates at numerous banks. And ultimately many savers can also benefit from this.
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Interest: The difference between an overnight and fixed-term deposit account
The principle seems relatively simple: you deposit money into a fixed-term or call money account and benefit from the interest. However, there are differences in the accounts in terms of term and flexibility.
- Per diem: With a money market account, you can transfer money to your checking account at any time – and vice versa. However, interest rates can vary and can also change at short notice. A call money account is therefore more of a flexible form of investment.
- fixed deposit: With a fixed-term deposit account, you put your money in the bank for a certain period of time. However, you cannot access your savings during this time. The interest rates are usually higher than with a money market account. The investment is therefore more long-term and less flexible.
Fixed deposits: These banks promise the highest interest rates
1. 4 percent interest per year at the bank11
Bank11 is a German credit institution headquartered in Neuss, North Rhine-Westphalia. Actual core business: The financing of motor vehicles. But with the so-called “Sparbriefkonto Fest” the bank is currently luring lucrative interest on fixed-term deposits.
With a term of two years, the highest returns jump out – namely four percent interest per year. The minimum deposit is 1,000 euros per account. A maximum of 250,000 euros can be deposited. According to Bank11, interest is even paid annually.
2. World savings: 3.6 percent interest per year at the Peac Bank
Peac Bank is a direct bank and received its banking license from the Federal Financial Supervisory Authority (BaFin) in 2020. The bank is currently offering via the Weltsparen investment platform Fixed interest rate of 3.60 percent per year with a term of two to five years.
In contrast to Bank11, however, the minimum deposit is slightly higher at EUR 5,000, while the maximum deposit is lower at EUR 100,000. Interest is paid out at the end of the respective term.
Open a fixed-term deposit account at the Peace Bank now
3. Crédit Agricole Consumer Finance: 3.5 percent interest per year
Crédit Agricole Consumers Finance is currently promising fixed-term interest rates of 3.5 percent per year with a term of two years. From the third year it is even 3.6 percent. The minimum deposit is currently 5,000 euros. You can deposit a maximum of 500,000 euros. The distribution takes place annually.
Open a fixed-term deposit account at the Peace Bank now
4. World savings: 3.4 percent per year at My Money Bank
My Money Bank (formerly GE Money Bank France) is an independent bank headquartered in Paris. The French financial institution is currently offering fixed-term interest rates of 3.5 percent for a term of one year. The maximum deposit is 100,000 euros. There is de facto no minimum deposit with one euro.
5. Renault Bank direct: 3.4 percent per year
Renault Bank is currently offering interest rates of 3.4 percent on overnight deposits on – with a term of two years. With an investment over five years, there are even 3.6 percent overnight interest rates. Minimum deposit: 2,500 euros. According to Renault Bank, there is no maximum deposit.
Open a fixed-term deposit account at Renault Bank now
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