Commerzbank unveils new daily exchange rate.
In a move to attract more customers, Commerzbank has updated the terms of its instant access savings account, introducing a new interest rate of 2.75%. This rate ranks among the higher interest rates in Germany for instant access savings accounts but is slightly below the absolute top rates from some online banks like Consorsbank.
Currently, the best savings account interest rates in Germany are offered by banks such as Consorsbank (2.8%) and TF Bank (initially 2.55% for 3 months, then 1.45%). Commerzbank's savings account benefits include no maintenance fees, no minimum investment, and statutory deposit insurance up to €100,000. However, interest payments are annual rather than monthly or quarterly, which may impact the effective yield.
Globally, instant access savings accounts generally offer interest rates around or below 2% in many developed economies. Commerzbank's 2.75% is more than competitive compared to many global savings rates, especially when factoring in the security and services of a major traditional German bank.
For those relying on deposit insurance from outside the eurozone, Openbank and Suresse Direct are options to consider. While the article does not provide specific interest rates for these banks, they are known for offering potentially higher interest rates on their instant access savings accounts.
Targobank and 1822direct are other banks offering higher interest rates. Targobank offers an instant access savings account with a higher interest rate of 3.1%, and 1822direct offers an instant access savings account with an interest rate of 2.9%.
It is essential to note that deposits up to €100,000 are protected by German deposit insurance in Commerzbank's instant access savings account. The article contains affiliate links, but this does not influence the content's objectivity.
To open a Commerzbank current account, one can also open a free instant access savings account. The interest rate guarantee for Commerzbank's "Top Interest Plus" account applies for 12 months after account opening.
Interest rates on instant access savings accounts outside the eurozone may be higher, making them a viable option for those seeking higher returns. For more information about Openbank, Suresse Direct, and other banks offering competitive savings accounts, you can find the details in this article, free of charge.
In the realm of personal-finance, Commerzbank's revised instant access savings account boasts a competitive interest rate of 2.75%, placing it among the top rates in Germany, despite slightly falling below the best offered by Consorsbank and TF Bank. On the other hand, banks like Targobank and 1822direct provide higher interest rates, with Targobank offering 3.1% and 1822direct offering 2.9%.
