Sky-high interest rates for today's loans: these financial institutions unveil the top incentives
In the current economic climate, savers are seeking the best deals for their money. However, finding high-interest rates on daily money market or flexible savings accounts in well-known Eurozone banks can be challenging. Here's a detailed overview of some options, focusing on Santander, Targobank, and Openbank.
Santander, Targobank, and Openbank, while not currently appearing prominently in publicly available recent listings for high interest rates, offer competitive options for savers.
Santander, through its consumer or banking division, and Openbank, a Santander digital brand, typically offer savings accounts with interest rates well below 1% for daily-access accounts. Special fixed-term deposits might offer higher rates but do not permit daily withdrawals.
Targobank in Germany generally offers modest savings interest (~0.1–0.3% or below 1% with special conditions). Any high-interest option is typically tied to fixed-term deposits, not daily money market accounts.
However, there are alternatives to consider. For instance, Santander is offering 3.0 percent interest on daily money market accounts for new customers, with a six-month interest guarantee.
If you're open to exploring beyond traditional banks, here are some recommendations:
- Check fintech platforms or broker-linked cash accounts like Trade Republic and Freedom24 that offer interest on idle cash with some investment exposure but daily liquidity. These accounts might offer higher yields (up to 4% or even 8+%) but come with distinct conditions.
- Consider the willbe cash account for a straightforward, risk-free daily-access EUR account with a competitive rate (~1.9%). This account, offered by Liechtensteinische Landesbank, represents one of the higher rates with guaranteed availability and no fees, though it is outside the Eurozone proper but in the broader European financial area.
- Use specialized comparison tools for Eurozone accounts updated frequently, focusing on “Tagesgeldkonten” or flexible savings accounts. This approach can help you look beyond the major traditional banks for better rates.
- Confirm deposit guarantee limits (usually €100,000 in Eurozone banks) and terms for withdrawal before committing. Some accounts may have limits on maximum balance earning interest or conditions on withdrawals.
In summary, Santander, Targobank, and Openbank typically do not offer the highest daily money market interest rates in the Eurozone. To find high rates with daily liquidity, consider emerging fintech-linked financial products or specialized cash accounts like the willbe cash account, and consult up-to-date comparison tools and rate lists.
It's also worth noting that BÖRSE ONLINE daily money market account comparison offers three worthwhile options for savers. As always, it's essential to research and compare before making a decision. Happy saving!
Santander is offering 3.0 percent interest on daily money market accounts for new customers, with a six-month interest guarantee, which shows that competitive finance options can be found even in traditional banks. If one is open to exploring beyond traditional banks, fintech platforms or broker-linked cash accounts like Trade Republic and Freedom24 might offer higher yields up to 8+%, but with distinct conditions.
