Banks Deutsche Bank and Postbank have introduced a new fixed-income action, enabling savers to secure their interest rates
Article Title: Competitive Fixed-Term Deposit Rates in the Eurozone: A Comparative Analysis
In the current economic climate, savers are on the lookout for the best deals to secure high fixed-term interest rates. One such option is the BÖRSE ONLINE fixed-term deposit comparison, which offers attractive rates.
Recently, German banks like Postbank and Deutsche Bank have launched a new fixed-term deposit action. However, the interest rates offered by these traditional banks are generally lower compared to specialized or online banks. For instance, the interest rates for a term of six to twelve months are 2.60 percent and 2.10 percent, respectively, while for terms of 48, 60, 72, and 84 months, the rate is a constant 2.10 percent.
In contrast, online banks like TF Bank, which also operates in Germany, offer competitive savings accounts with higher interest rates. For example, they offer 2.55% interest for the first 3 months and 1.45% thereafter on balances up to €100,000.
Eurozone banks, in general, offer interest rates that range around 0.60% to about 0.80% for balances under €1 million, and up to around 1.15% to 1.50% for very large deposits (€1 million and above), with interest typically paid quarterly.
It's important to note that the European Central Bank's (ECB) main refinancing rate is currently 2.15%, and its deposit facility rate is at 2.0%. However, typical fixed-term deposit interest rates offered by major banks in the eurozone remain well below the ECB's main refinancing rate, reflecting banks' margin setting and overall monetary conditions.
The BÖRSE ONLINE fixed-term deposit comparison provides more attractive offers for high fixed-term interest rates. Currently, the BÖRSE ONLINE fixed-term deposit offer has interest rates up to 2.9 percent for a one-year term, a reduction from the 3.0 percent new money action that ran from October 18 to November 1.
The offer is under the protection of German deposit insurance, and all deposits up to 100,000 euros are covered. The terms for the fixed-term deposit action range from 6 months to 84 months, with a notice period of three months at the end of the term. Failure to meet the notice period may result in the interest savings being extended for the first term at the then current interest rate.
The BÖRSE ONLINE fixed-term deposit comparison aims to provide objective and independent content, making it a useful resource for those looking to get the most out of their investment. Savers should secure attractive interest rates now if they want to benefit from them, as the current interest rate cuts by the ECB have led to falling conditions for daily and fixed-term deposits in the eurozone.
[1] Source: Banking.com [2] Source: TF Bank [3] Source: ECB [4] Source: Bundesverband deutscher Banken [5] Source: ECB
In the hunt for high fixed-term interest rates, personal-finance enthusiasts might consider online banks like TF Bank, which offers competitive rates, such as 2.55% for the initial three months and 1.45% thereafter, surpassing the interest rates offered by traditional banking-and-insurance institutions like Postbank and Deutsche Bank. Meanwhile, the BÖRSE ONLINE fixed-term deposit comparison is an alternative that provides more attractive offers, with interest rates up to 2.9 percent for a one-year term, despite current interest rate cuts by the European Central Bank (ECB) impacting the conditions for daily and fixed-term deposits in the Eurozone.
