Interest rates on savings deposits in Germany are rising, but many banks are lagging behind. This leads to average interest income per capita of just 127.47 euros in 2023, as a forecast by Tagesgeldvergleich.net shows.
Despite low average deposits, savers can earn better interest returns if they are willing to transfer their assets to an account with a higher interest rate.
Both money market and time deposit accounts can offer significantly higher interest rates. You can read how much here.
Die Interest charges on savings deposits – but not at the same pace for all banks. In many savings banks and cooperative banks in particular, the interest rates for overnight and time deposits are still below the market peak.
The result: Despite the turnaround in interest rates, savers in Germany can only expect an average interest income of 127.47 euros this year. This was the result of a forecast by the comparison portal Tagesgeldvergleich.net. That’s what they became insoles, which an investor in this country has saved on average (EUR 26,257.76) offset against the average interest rate in March. That was around 0.46 percent per year.
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It is true that not every saver in Germany can look back on such high deposits. Nevertheless, you can earn better interest income with far less assets. In case of doubt you have to be ready for that, yours Assets from your house bank to an account with a higher interest rate.
Significantly higher interest rates are possible for both overnight and fixed-term deposits
It doesn’t matter whether it’s an overnight or fixed-term deposit: In both cases, interest rates are well over 0.46 percent.
Who about one year old fixed deposit chooses as a form of investment, can happily pocket 3.0 percent interest. In order to generate the interest of 127.47 euros mentioned, you would no longer have to invest around 26,000 euros, but only 4250 euros. For example, if you invest 8000 euros, you can even count on 240 euros.
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Fixed deposit is a good form of investment if you are sure that you do not have to fall back on your money. On the other hand, if you want to remain liquid, you should look for suitable ones per diem– Check out offers.
Time for interest rate hikes is not over yet
Here, Akbank is currently offering the highest interest rate of 2.26 percent. In this case, you would have to invest 6540 euros for 127.47 euros in interest. With 8,000 euros in fixed assets, you could still earn 180 euros in interest income.
Important: the time for interest rate hikes is not over yet. Only recently raised the European Central Bank interest rates again. For the banks, this means that their business with your deposits will become even more profitable. Especially at the top of the market, where banks are vying for your money, even higher interest rates can be expected in the future. Changing banks can therefore be worthwhile.