German banks launch 4% savings rates for Tagesgeld and Festgeld

Several banks in Germany are competing for depositors by offering 4 % annual interest on short‑term Tagesgeld accounts. Chase, the German arm of the U.S. JPMorgan group, introduced a four‑month promotional rate of 4 % before moving to a variable 2 % for existing customers. A day later Norisbank, a Deutsche Bank subsidiary, matched the 4 % rate for six months, provided customers also open a checking account. French lender Crédit Agricole followed with a 4 % rate guaranteed until 31 January 2027, also requiring a giro account and limiting deposits to €10,000.

For longer‑term Festgeld products, the highest advertised rates are 3.5 % at J&T Direktbank, 3.4 % at BBVA and 3.3 % at PBB direkt, while two‑year fixed deposits in the German market reach about 3.2 %. These offers come after the European Central Bank raised its deposit rate to 2.25 %, prompting banks to use higher rates to attract new customers. The promotions are limited‑time and often tied to additional account conditions, making them attractive for savers seeking higher returns on emergency funds or small balances.