Consorsbank and other banks raise interest rates on savings

Several banks are increasing interest rates on call money (Tagesgeld) accounts to attract new customers. Consorsbank has raised its promotional interest rate for new customers to 3.60 percent per annum for the first five months on deposits up to one million euros. To access this rate, customers must also open a securities depot, which remains free of charge.

Other competitive rates in the market include 3.91 percent per annum from Ikano Bank and 4.0 percent from Chase. Additionally, TF Bank has implemented interest rate increases. In the fixed-term deposit (Festgeld) sector, J&T Direktbank is currently offering rates of up to 3.5 percent.