26.3.2024
March 2024 Overview: Germany Deposit Market
5 min read
As of March, investors and savers are met with a dynamic landscape in Germany's deposit market, reflecting the ever-changing economic conditions and financial policies. Stay ahead of the curve with our insights into the latest trends shaping deposit rates in Germany.
In the ever-evolving landscape of financial markets, deposit rates in Germany continue to reflect the dynamic nature of global economics.
Based on recent data analysis from the European Central Bank (ECB), Germany's deposit market continues to showcase notable shifts:
The average annual deposit interest rate in Germany stands at 3.13% as of March. This figure marks a slight decrease compared to the previous month's rate (3.25%), reflecting ongoing adjustments in the financial sector.
Noteworthy is the fluctuation in specific deposit products. For instance, the average interest rate for 12-month ordinary EUR deposits has declined to 3.63%, signaling potential adjustments in short-term investment strategies. The maximum interest rate on non-subordinated euro deposits in Germany currently stands at 4.00%.
In conducting our analysis for March, PickTheBank has rigorously examined the offerings of 550 German banks, meticulously evaluating their fixed-term deposit interest rates. This examination has resulted in the expansion of our Germany deposit database, which now comprises an impressive portfolio of 11,000 deposit products. Furthermore, our extensive database covers data from over 1,000 banks across 25 European countries, providing a comprehensive overview of financial opportunities in Europe.
Currently, we suggest focusing on the following options:
🔥Top-5 12-month ordinary EUR deposit rates:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 3.63% | Klarna Bank AB, German Branch | EUR | 12 mths | More -> |
| 3.55% | Klarna Bank AB, German Branch | EUR | 12 mths | More -> |
| 3.50% | Isbank AG | EUR | 12 mths | More -> |
| 3.50% | pbb direkt | EUR | 12 mths | More -> |
| 3.50% | J&T banka / J&T direktbank | EUR | 12 mths | More -> |
🔥Top-6 24-month ordinary EUR deposit rates:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 3.80% | CRONBANK Aktiengesellschaft | EUR | 24 mths | More -> |
| 3.60% | Klarna Bank AB, German Branch | EUR | 24 mths | More -> |
| 3.55% | LeasePlan Bank | EUR | 24 mths | More -> |
| 3.52% | Klarna Bank AB, German Branch | EUR | 24 mths | More -> |
| 3.40% | PSA Bank Deutschland GmbH | EUR | 24 mths | More -> |
| 3.40% | J&T banka / J&T direktbank | EUR | 24 mths | More -> |
🔥Top-5 36-month ordinary EUR deposit rates:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 3.80% | LeasePlan Bank | EUR | 36 mths | More -> |
| 3.75% | CRONBANK Aktiengesellschaft | EUR | 36 mths | More -> |
| 3.56% | Klarna Bank AB, German Branch | EUR | 36 mths | More -> |
| 3.50% | IKB Deutsche Industriebank Aktiengesellschaft | EUR | 36 mths | More -> |
| 3.30% | Norisbank GmbH | 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 for ordinary deposits available in Germany:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 4.00% | comdirect | EUR | 6 mths | More -> |
| 3.90% | Openbank | EUR | 6 mths | More -> |
| 3.90% | Suresse Direkt Bank | EUR | 6 mths | More -> |
| 3.90% | LeasePlan Bank | EUR | 60 mths | More -> |
| 3.85% | Norisbank GmbH | EUR | 3 mths | More -> |
| 3.85% | LeasePlan Bank | EUR | 48 mths | More -> |
*Norisbank offers products from their partner banks from other European countries.
The following banks offer the maximum EUR interest rates on subordinated deposits available in Germany:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 5.50% | Volksbank Dreieich eG | EUR | 84 mths | More -> |
| 5.50% | Bausparkasse Mainz Aktiengesellschaft (BKM Deine Bausparkasse) | EUR | 240 mths | More -> |
| 5.20% | Bausparkasse Mainz Aktiengesellschaft (BKM Deine Bausparkasse) | EUR | 180 mths | More -> |
| 5.15% | Bausparkasse Mainz Aktiengesellschaft (BKM Deine Bausparkasse) | EUR | 144 mths | More -> |
| 5.00% | Raiffeisenbank im Hochtaunus eG MeineBank | EUR | 120 mths | More -> |
| 5.00% | Bausparkasse Mainz Aktiengesellschaft (BKM Deine Bausparkasse) | EUR | 120 mths | More -> |
🔥Top US dollar and GBP deposit rates – any term:
| Interest rate | Bank | Currency | Term | |
|---|---|---|---|---|
| 5.10% | KT Bank AG | USD | 6 mths | More -> |
| 5.00% | KT Bank AG | USD | 3 mths | More -> |
| 5.00% | pbb direkt | USD | 12 mths | More -> |
| 5.00% | pbb direkt | USD | 120 mths | More -> |
| 4.90% | KT Bank AG | USD | 12 mths | More -> |
| 4.65% | COMMERZBANK Aktiengesellschaft | GBP | 12 mths | More -> |
While fluctuations in deposit rates are inevitable, staying informed about prevailing trends empowers investors to capitalize on favorable opportunities, with a repository of over 20,000 deposit products, PickTheBank remains dedicated to providing comprehensive insights.
It's essential to note that the presented rates are pre-taxation and may be subject to variations in interest payment frequencies. For the most accurate and up-to-date information, we advise consulting directly with the respective banks to verify rates before finalizing any investment decisions.
Explore the potential, stay informed, and optimize your investment strategies with PickTheBank's robust resources and analysis.
