26.2.2024
Best Fixed-Term Deposits and Savings Accounts for Germans in February 2024
3 min read
Discover premier online banking options for German citizens, showcasing lucrative fixed-term deposit and savings account deals. Key highlights encompass elucidating disparities between fixed-term deposits and savings accounts, encouraging readers to align with their financial objectives, and emphasizing the safeguard provided by the Deposit Guarantee Scheme for deposits.
We have compiled the best current offers for fixed-term deposits and savings accounts for German citizens that you can open online.
For example, the best fixed-term deposit offer for Germans is from Klarna Bank AB, Germany Branch, with an interest rate of 3.80% for 18 months.
And the best savings account offer is from Bunq B.V., Germany Branch with a very attractive interest rate of 4.50%!
Below are the 5 best offers for fixed-term deposits and savings accounts for German citizens as of 26 February 2024.
Fixed-Term Deposits with the Highest Interest Rates for German Citizens 02/2024
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 3.80% | Klarna Bank AB, (Germany) | EUR | 18 months | Open online -> |
| 3.75% | Klarna Bank AB, (Germany) | EUR | 12 months | Open online -> |
| 3.75% | Klarna Bank AB, (Germany) | EUR | 2 years | Open online -> |
| 3.75% | Klarna Bank AB, (Germany) | EUR | 3 years | Open online -> |
| 3.70% | Klarna Bank AB, (Germany) | EUR | 4 years | Open online -> |
Savings and Demand Accounts with the Highest Interest Rates for German Citizens 02/2024
| Interest rate | Bank | Currency | ||
|---|---|---|---|---|
| 4.50% | Bunq B.V. (Germany) | EUR | Open online -> | |
| 3.85% | Norisbank (Germany) | EUR | Open online -> | |
| 3.58% | Ginmon (Germany) | EUR | Open online -> | |
| 3.55% | TARGOBANK AG (Germany) | EUR | Open online -> | |
| 3.50% | J&T Direktbank (Germany) | EUR | Open online -> |
The main feature of term deposits and savings accounts is their flexibility. With fixed-term deposits, the funds are blocked for the entire term of the deposit, while savings and current accounts allow you to deposit and withdraw funds at any time.
Because of this flexibility, the interest rates on savings and demand deposit accounts are usually lower than those on term deposits. It is therefore important to consider your financial goals and whether you are prepared to freeze your funds for some time.
Opening a fixed-term deposit online is legal and secure: any deposit up to € 100,000 per depositor and bank is covered by the Deposit Guarantee Scheme.
These reviews are for informational purposes only and should not be construed as investment or financial advice, and users should always conduct their research or consult with professional advisors before making any decisions related to their finances.
