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 overnight money.

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.

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.

Call money: These banks promise the highest interest rates

1. TF Bank: 3.35 percent for new customers

The Swedish TF Bank is currently offering an interest rate of 3.35 percent for new customerswho open an account after March 31, 2023. But: The interest is only valid for a period of four months, but is paid out monthly. An interest rate of 1.3 percent then applies. The bottom line is that annual interest rates are around two percent.

Open an overnight deposit account at TF Bank now

2. Openbank: 3.25 percent interest

Openbank currently promises new customers interest of 3.25 percent for six months with its so-called “welcome call money account”. The maximum deposit is one million euros. At the end of the six months, the account is automatically converted into a regular Open call money account.

Then an existing customer interest rate of at least 1.0 percent applies. However, since the Open Bank call money account is linked to a checking account, subsequent interest rates of up to 2.5 percent can jump out. But you have to meet a few conditions for this. For example, a monthly salary of at least 600 euros must be available. The maximum deposit for subsequent interest is currently 250,000 euros.

3. Consorsbank: 3.2 percent call money interest for new customers

As a direct bank, Consorsbank offers financial services such as financing, securities trading and savings and investment products. The bank appears as a brand of the French bank BNP Paribas. It is also one of the largest online brokers in Germany.

For their fee-free money market account meanwhile, Consorsbank promises new customers call money interest of 3.20 percent for a period of six months. The maximum deposit is one million euros. An existing customer interest rate of 0.6 percent then applies. The bottom line and annualized interest rate is 1.9 percent.

Open an overnight deposit account at the Consorsbank now

4. Comdirect: 3.05 percent interest with an option to extend

The German Comdirect Bank is a direct bank and was founded in 1994. It has been part of Commerzbank AG since 2020. Recently, the Comdirect has been luring along Call money interest of 3.05 percent for new customers for a period of six months. The maximum deposit is 100,000 euros. Payment is made quarterly.

An existing customer interest rate of 0.75 percent then applies. However, there is also the option of extending the 3.05 percent interest rate to a period of twelve months. The condition: You must also open a current account or deposit with the Comdirect.

Open an overnight deposit account with the Comdirect now

5. ING: 3 percent for new customers

ING is currently offering new customers a free of charge Daily money extra account and promises an interest rate of 3.0 percent for a period of six months. The maximum deposit is 50,000 euros. A follow-up interest rate of 0.6 percent then applies. Bottom line and calculated over the year: 1.8 percent interest on call money.

Open an extra call money account with ING now

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