German banks offer promotional interest rates for new customers

Several banking institutions in Germany are offering promotional interest rates for new customers. Renault Bank direkt is providing a 4.10% annual interest rate on call money (Tagesgeld) for a guaranteed period of four months for amounts up to €250,000. This offer includes monthly interest credits and is subject to EU deposit insurance up to €100,000 per customer.

Simultaneously, Santander is transitioning its German operations to the Openbank by Santander brand. This rebranding aims to combine digital banking with local physical presence. As part of the launch, Openbank is offering a 4% promotional interest rate on call money for four months on amounts up to €100,000. The bank is also promoting an instant loan offer of 5.99% interest for up to €5,000 over a 60-month term.