German banks raise sustainable fixed‑term deposit rates

German banks have increased interest rates on sustainable savings products. The Umweltbank, Pax‑BKC and KD‑Bank lifted their Festgeld (fixed‑term deposit) rates, while the GLS Bank and other green lenders also posted higher offers. In the broader market, the SWK Bank now offers a 3.5 % annual rate on six‑month Festgeld, and J&T Direktbank provides up to 3.5 % for longer terms. For Tagesgeld (daily‑access accounts), the Norisbank – a Deutsche Bank subsidiary – and Chase are offering 4 % for new customers under specific conditions. These moves come after a series of ECB rate hikes and reflect banks’ efforts to attract deposits while financing environmental and social projects.