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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 rateBankCurrencyTerm 
4.20%J&T DIREKTBANK, a.s. Zweigniederlassung Deutschland EUR12 mthsMore ->
4.20%Crédit Agricole Consumer FinanceEUR12 mthsMore ->
4.18%Klarna Bank AB, German BranchEUR12 mthsMore ->
4.10%Klarna Bank AB, German BranchEUR12 mthsMore ->
4.00%norisbank GmbH *EUR12 mthsMore ->

*Norisbank offers products from their partner banks from other European countries. 

 

🔥Top-5 24-month ordinary EUR deposit rates:

 

Interest rateBankCurrencyTerm 
4.25%

norisbank GmbH *

EUR24 mthsMore ->
4.20%Crédit Agricole Consumer Finance EUR24 mthsMore ->
4.20%

norisbank GmbH *

EUR24 mthsMore ->
4.15%

Varengold Bank AG

EUR24 mthsMore ->
4.11%Bank11 für Privatkunden und Handel GmbHEUR24 mthsMore ->

*Norisbank offers products from their partner banks from other European countries. 

 

🔥Top-5 36-month ordinary EUR deposit rates:

 

Interest rateBankCurrencyTerm 
4.20%Crédit Agricole Consumer Finance EUR36 mthsMore ->
4.10%norisbank GmbH *EUR36 mthsMore ->
4.01%Bank11 für Privatkunden und Handel GmbHEUR36 mthsMore ->
4.00%norisbank GmbH *EUR36 mthsMore ->
4.00%J&T DIREKTBANK, a.s. Zweigniederlassung DeutschlandEUR36 mthsMore ->

*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 rateBankCurrencyTerm 
5.50%BKM Deine  BausparkasseEUR240 mthsMore ->
5.20%BKM Deine  BausparkasseEUR180 mthsMore ->
5.10%BKM Deine  BausparkasseEUR144 mthsMore ->
5.00%BKM Deine  BausparkasseEUR120 mthsMore ->
4.90%Volksbank Dreieich eGEUR120 mthsMore ->

 

The following banks offer the maximum EUR interest rates for ordinary deposits available in Germany:

 

Interest rateBankCurrencyTerm 
4.25%pbb direktEUR120 mthsMore ->
4.20%J&T DIREKTBANK, a.s. Zweigniederlassung Deutschland EUR12 mthsMore ->
4.20%Crédit Agricole Consumer FinanceEUR12 mthsMore ->
4.20%Crédit Agricole Consumer FinanceEUR18 mthsMore ->
4.18%Klarna Bank AB, German BranchEUR12 mthsMore ->

 

🔥Top US dollar and GBP deposit rates – any term:

 

Interest rateBankCurrencyTerm 
5.00%pbb direkt USD12 mthsMore ->
5.00%pbb direkt USD120 mthsMore ->
4.75%pbb direkt USD60 mthsMore ->
4.50%COMMERZBANK AktiengesellschaftUSD12 mthsMore ->
4.65%COMMERZBANK AktiengesellschaftGBP12 mthsMore ->

 

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.

Top deposits available online

Available online
Protected up to €100k
bankImage

Klarna Bank AB, German Branch

Germany

3.50%

3mths,

Available online
Protected up to €100k
bankImage

CA Consumer Finance

France

3.40%

12mths,

Available online
Protected up to €100k
bankImage

Klarna Bank AB, German Branch

Germany

3.38%

6mths,

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