There hasn’t been such good news for savers for a long time: fixed-term deposit interest rates are rising ever higher, meanwhile they are already 2.55 percent for a term of only 12 months, and even 2.90 percent per year for 24 months. The best offers at a glance.
Fixed deposit interest rates rose again this week. This means that the leader in the fixed-term deposit comparison from FOCUS online has changed 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. There, the Italian bank illimity has been offering 2.55 percent for just one year since Friday. Banca Progetto, also from Italy, ranked close behind with 2.50 percent, ahead of the Vienna branch of Banco do Brasil with 2.45 percent. In both countries, the European deposit insurance applies to deposits of up to 100,000 euros, for Banco do Brasil the deposit insurance of Austria applies.
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 take responsibility 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 swk bank offers the best German time deposit offer over 24 months with 2.38 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 regularly follow the current conditions 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 put your buffer for emergencies on the call money account, the other parts on fixed deposit accounts for six months, twelve months and 24 months, for example. 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.
