German Sparkassen and Volksbanken average 0.4% day‑deposit interest

A study of 693 banks in Germany found that Sparkassen and Volksbanken offer an average un‑fettered Tagesgeld (day‑deposit) rate of about 0.4%, far below the roughly 1.0% provided by over‑regional and direct banks. The analysis, conducted by the finance portal Biallo, examined 275 Sparkassen, 319 Volks‑ and Raiffeisenbanken and 99 larger banks. About 81% of Sparkassen and 73% of Volksbanken pay no more than 0.5%, with the lowest rates at 0.001% – roughly 10 cents on a €10,000 deposit per year.

With inflation in Germany at 2.6%, savers lose purchasing power, estimated at €214 per €10,000 saved annually. "Kunden warten vergeblich," said Biallo CEO Samuel Biallowons, noting that only a small fraction of banks have adjusted rates ahead of the ECB’s expected policy‑rate hike. Direct banks have responded with temporary offers up to 4% for new customers, prompting competition. "Wenn die EZB jetzt den Leitzins erhöht, steigt der Druck auf Banken, auch ihren Bestandskunden wieder mehr zu bieten," observed Timo Halbe of Finanztip.