There hasn’t been such good news for savers for a long time: fixed-term deposit interest rates are rising ever higher, meanwhile there are already 2.5 percent with a term of only 12 months, and even 2.9 percent per year with 24 months. The best offers at a glance.
Fixed deposit interest rates rose again this week. The leader in the FOCUS fixed-term deposit comparison has also changed online again.
If you only want to entrust your money to a German institute, you will receive 1.75 percent each from pbb direct and Bank 11 with a term of twelve months. If that’s not enough for you, you should park at least part of your credit in other EU countries. As of today, the Banca Progetto from Italy is offering a whopping 2.50 percent for a term of just one year. The Vienna branch of Banco do Brasl comes up with 2.45 percent. It is followed by Illimity Bank from Italy and sme Bank from Lithuania, each with 2.40 percent. In all three countries, the European deposit guarantee applies to balances of up to 100,000 euros, while the Austrian deposit guarantee applies to Banco do Brasil.
The interest rates for an investment period of just six months are also attractive. The Banca Progetto already offers 1.8 percent, the BNF Bank and MeDirect – both based in Malta – lure with 1.7 percent. These conditions apply on a yearly basis. Savers are credited within six months. At both banks, the European deposit guarantee applies to deposits of up to EUR 100,000. Nevertheless, the states must be accountable for this. There, Malta has a credit rating of A- from the rating agency Standard
If you can deposit your money for 24 months, the sme Bank from Lithuania will now reward you with 2.9 percent interest – per year! The Italian institutions Banca Progetto and Banca CF both offer 2.7 percent. The European deposit insurance applies up to 100,000 euros.
The best 6-month fixed-term deposits from a German bank are offered by GEFA Bank and swk Bank, each with 0.8 percent per year. With longer maturities of more than 12 months, Bank 11 and pbb are directly ahead among the German institutions. Both offer 1.75 percent for a one-year term. The best German time deposit offer over 24 months offers the Ford Bank with 2.3 percent.
Would you rather remain flexible? Then you will find the current top offers for overnight money here.
Do you still have credit lying around in your savings book or even in your checking account with almost no interest? Then now is the time to switch. Start with a portion, then you can add more later if interest rates continue to rise.
Of course, the higher interest rates are still not enough to offset the rising inflation rate. But doing nothing is even more expensive: With a currently interest-free credit balance of 20,000 euros, you are giving away 500 euros in interest per year, which Banca Progetto, for example, would pay you on it.
Would you like to keep an eye on interest rates for a while longer? Then you should follow the current conditions regularly in the FOCUS fixed-term deposit comparison online.
Important: With fixed-term deposits, you determine at the beginning how long you will deposit the money. A premature disposal is usually not possible.
Tip: Since further interest rate increases are to be expected in the current competition, you should proceed in stages. With the so-called staircase strategy, you divide your savings into different pots. You invest your buffer for emergencies in the call money account, the other parts in fixed-term accounts for, for example, six months, twelve months and 24 months. In this way, you always remain flexible, even if interest rates continue to rise, and you can already use the next higher offer after 6 months.
