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Zero number: These banks and savings banks still do not pay interest

2023-08-17T10:27:42.815Z

Highlights: More than 100 banks in Germany do not offer their customers interest on overnight money. Only two banks that operate nationwide currently remain interest-free. Savings banks pay an average of 0.41 percent interest, while savers earn 0.39 percent at the Volks- und Raiffeisenbanken. Up to four percent interest rates are available at many banks, but existing customers are also increasingly benefiting from higher interest rates. Here is an up-to-date list of banks that also offer the best interest rates for existing customers.



Status: 17/08/2023, 12:19 p.m.

By: Amy Walker

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More than a year after the turnaround in interest rates, there are still more than 100 banks in Germany that do not offer their customers interest on overnight money. A list shows an overview of the affected banks.

Berlin – While some banks try to outbid each other with attractive interest rates from week to week, there are still banks that offer 0 percent interest on overnight money more than a year after the interest rate turnaround. According to an evaluation by the comparison portal Verivox, the IPPEN. MEDIA, this affects 111 out of 751 banks. We have compiled an overview of the banks that still do not offer interest to their customers in a list.

List of banks with 0 percent interest

Verivox has evaluated all call money accounts of banks that publish their interest rates on their websites. Therefore, it is also possible that even more banks do not offer interest – but do not make this public.

The evaluation shows that 19 percent of the cooperative banks still do not offer interest on call money accounts. In second place are the savings banks, of which 13 percent offer 0.0 percent interest. Only two banks that operate nationwide currently remain interest-free. These are the Bank for Orders and Missions and the Savings and Credit Bank of the Federation of Free Protestant Churches.

"Regional credit institutions in particular are taking their time to pass on the increased interest rates to their savers," comments Oliver Maier, Managing Director of Verivox Finanzvergleich GmbH. There are more and more banks that offer their customers at least moderate interest rates across the board. "But while savers earn an average of 1.39 percent interest at nationwide banks, they usually have to be content with a fraction of that at savings banks and cooperative banks. Savings banks pay an average of 0.41 percent interest, while savers earn an average of 0.39 percent at the Volks- und Raiffeisenbanken."

Impressive: A view of the Frankfurt skyline at night. © Arne Dedert/dpa-Bildfunk

Up to four percent interest rates are available at many banks

At many nationwide banks, there is now over four percent interest on overnight money for new customers. But existing customers are also increasingly benefiting from higher interest rates. Here is an up-to-date list of banks that also offer the best interest rates for existing customers:

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My Area

BankInterest rateConditions
C244,0 %in connection with current account
J&T Direktbank3,65 %-
wiLLBe3,6 %-
DKB3,5 %in connection with current account/custody account, offer only until January 2024
Merkur Privatbank3,5 %in connection with Depot
Leaseplan Bank3,1 %-
BMW Bank3,0 %-
Open Bank3,0 %in connection with current account/custody account, at least 600 euros cash receipt per month
Quirion3,0 %-
HoistSave2,79 %if mediated via Weltsparen

These are the top 10 in August 2023. However, the market is changing very quickly, so that more and more banks are offering more. And as always, it's worth taking a look at the fine print here as well.

Source: merkur

All news articles on 2023-08-17

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