Best German Savings Accounts in March 2024

Overview of the best German savings account offers in March 2024

It’s been a while… But here we go again with an update on the best savings accounts in Germany in March 2024. Although interest rates seem to have reached their peak and are on their way down again, they are still on a considerably high level. So let’s have a look at the savings accounts that give you the most for your money!

bunq

bunq is offering a new savings account model called “Easy Savings,” which provides an attractive interest rate of 4.5% for the first four months for new customers. This rate is significantly higher than the regular rate of 1.56%, making it a compelling option for short-term savings. The interest is credited weekly, enhancing the benefits through compound interest. However, the account limits withdrawals to twice a month, differing from traditional daily access savings accounts. Additionally, the Dutch deposit insurance scheme protects deposits up to €100,000. This offer is a lucrative opportunity for new customers seeking high short-term returns on their savings in Germany.

Open your bunq account

Trade Republic

Trade Republic, primarily known for its brokerage account, is offering a savings account alternative with an appealing 4% interest rate. This account, into which customers can deposit money for potential investment in securities, can effectively serve as a high-interest savings account since investment is not mandatory. The account is particularly attractive as it offers high interest rates to all customers, not just new ones, with no account maintenance fees and monthly interest payments. However, it’s important to note that the 4% interest rate applies to balances up to €50,000, and Trade Republic collaborates with several partner banks, meaning the applicable deposit insurance scheme may vary. Despite these considerations, this offer stands out for providing one of the highest interest rates for readily accessible funds in the market.

Open your Trade Republic account

Stellantis Direktbank

Stellantis Direktbank is offering a competitive 3.7% interest rate on its savings account for new customers. This promotional rate is guaranteed for three months following account opening (customers can qualify as new again after just 12 months). However, the standard interest rate for existing customers at Stellantis is relatively low at 1.5%. It’s also important to note that the €100,000 European deposit insurance applies.

Open your Stellantis Direktbank account

Renault Bank

Like Stellantis Direktbank, Renault Bank also offers an interest rate of 3.7% for the initial three months after account opening. Notably, Renault Bank Direkt has attractive rates for existing customers, which is currently at 2.9% for deposits of up to 250,000 EUR (2.25% for deposits over 250,000 EUR). Deposits are protected up to EUR 100,000 in accordance with the EU directive.

Open your Renault Bank account

J&T Direktbank

J&T Direktbank is offering a savings account with a 3.5% return. This bank, which has been reaching German savers via platforms like Weltsparen in the past, is now directly targeting potential clients, avoiding intermediary fees. The account is managed under German law, allowing for tax exemptions, and deposits up to €100,000 are secured under the Czech deposit insurance scheme. This offer combines the advantages of competitive interest rates with the security of European deposit insurance.

Open your J&T Direktbank account

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