2.10.2023
Germany's Deposit Market Overview: October 2023
5 min read
Immerse yourself in our in-depth analysis of the current deposit interest rates in Germany for October 2023, and unlock new financial opportunities with the extensive deposit market overview available at PickTheBank. Thank you for considering us as your trusted source.
PickTheBank Invites You to Explore Europe's Top Deposit Rates!
At PickTheBank, we're devoted to delivering the latest insights in the ever-shifting realm of interest rates across Europe. Our extensive database is a treasure trove of information, encompassing over 1,000 banks from 25 European countries, showcasing an astounding array of more than 20,000 deposit products.
In this edition, our focus shines brightly on the captivating world of interest rates in Germany.
Based on official data released by the European Central Bank (ECB), Germany has witnessed a remarkable uptick in its average annual deposit interest rate. It now stands at 2.94%, a noteworthy rise from the previous month's 2.78%.
But that's not all. We've also identified the most appealing annual euro deposit rate at 4.20%, signifying an increase compared to the previous month.
We've also seen an increase in the maximum interest rate for non-subordinated, long-term euro deposits in Germany, rising to 4.20% compared to 4.25% in the previous month.
Behind these numbers lies a rigorous process of analysis. Our diligent team meticulously examined the websites of 550 German banks, all offering a variety of fixed-term deposit interest rates. As a result, our Germany deposit database now boasts an impressive portfolio of 9,500 deposit products.
🔥Top-5 12-month ordinary EUR deposit rates:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 4.20% | J&T DIREKTBANK, a.s. Zweigniederlassung Deutschland | EUR | 12 mths | More -> |
| 4.20% | Crédit Agricole Consumer Finance | EUR | 12 mths | More -> |
| 4.18% | Klarna Bank AB, German Branch | EUR | 12 mths | More -> |
| 4.10% | Klarna Bank AB, German Branch | EUR | 12 mths | More -> |
| 4.00% | norisbank GmbH * | EUR | 12 mths | More -> |
*Norisbank offers products from their partner banks from other European countries.
🔥Top-5 24-month ordinary EUR deposit rates:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 4.25% | norisbank GmbH * | EUR | 24 mths | More -> |
| 4.20% | Crédit Agricole Consumer Finance | EUR | 24 mths | More -> |
| 4.20% | norisbank GmbH * | EUR | 24 mths | More -> |
| 4.15% | Varengold Bank AG | EUR | 24 mths | More -> |
| 4.11% | Bank11 für Privatkunden und Handel GmbH | EUR | 24 mths | More -> |
*Norisbank offers products from their partner banks from other European countries.
🔥Top-5 36-month ordinary EUR deposit rates:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 4.20% | Crédit Agricole Consumer Finance | EUR | 36 mths | More -> |
| 4.10% | norisbank GmbH * | EUR | 36 mths | More -> |
| 4.01% | Bank11 für Privatkunden und Handel GmbH | EUR | 36 mths | More -> |
| 4.00% | norisbank GmbH * | EUR | 36 mths | More -> |
| 4.00% | J&T DIREKTBANK, a.s. Zweigniederlassung Deutschland | EUR | 36 mths | More -> |
*Norisbank offers products from their partner banks from other European countries.
🔥Top EUR deposit rates – any term
The following banks offer the maximum EUR interest rates on subordinated deposits available in Germany:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 5.50% | BKM Deine Bausparkasse | EUR | 240 mths | More -> |
| 5.20% | BKM Deine Bausparkasse | EUR | 180 mths | More -> |
| 5.10% | BKM Deine Bausparkasse | EUR | 144 mths | More -> |
| 5.00% | BKM Deine Bausparkasse | EUR | 120 mths | More -> |
| 4.90% | Volksbank Dreieich eG | EUR | 120 mths | More -> |
The following banks offer the maximum EUR interest rates for ordinary deposits available in Germany:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 4.25% | pbb direkt | EUR | 120 mths | More -> |
| 4.20% | J&T DIREKTBANK, a.s. Zweigniederlassung Deutschland | EUR | 12 mths | More -> |
| 4.20% | Crédit Agricole Consumer Finance | EUR | 12 mths | More -> |
| 4.20% | Crédit Agricole Consumer Finance | EUR | 18 mths | More -> |
| 4.18% | Klarna Bank AB, German Branch | EUR | 12 mths | More -> |
🔥Top US dollar and GBP deposit rates – any term:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 5.00% | pbb direkt | USD | 12 mths | More -> |
| 5.00% | pbb direkt | USD | 120 mths | More -> |
| 4.75% | pbb direkt | USD | 60 mths | More -> |
| 4.50% | COMMERZBANK Aktiengesellschaft | USD | 12 mths | More -> |
| 4.65% | COMMERZBANK Aktiengesellschaft | GBP | 12 mths | More -> |
Please note that the presented rates are before taxation and do not account for variations in interest payment frequencies. For the most accurate and up-to-date information, we recommend verifying rates directly with the respective banks before making any final decisions.
Our mission is to keep you informed about the ever-changing landscape of European deposit rates, empowering you to make informed financial decisions. Stay tuned for more updates and insights from PickTheBank.
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