Time-limited interest hike offered by a major savings bank to mark its anniversary, urging customers to act promptly to take advantage.
Munich City Savings Bank Offers Competitive Time Deposit Rates
Munich City Savings Bank, a renowned financial institution established in 1824, continues to impress with its secure and effective security system. This system, part of the Sparkassen-Finanzgruppe, provides an additional layer of protection for deposits.
As of July 14, 2025, the bank offers time deposits, or Festgeld, with attractive interest rates. The current rates stand at 2.05% for terms of 3 months, 6 months, and 12 months. Deposit amounts can range from 2,000 EUR to 200,000 EUR. These accounts come with a deposit guarantee of up to 100,000 EUR per depositor under Germany's deposit guarantee scheme. It's worth noting that interest earned by non-residents is tax-free, while residents face a withholding tax of 26% on interest income.
The Festgeld offer, valid from October 7 to the end of November 2024, requires a minimum investment of 500 euros. However, for those who choose a savings plan and invest at least half of their Festgeld in securities, precious metals, insurance, or wealth management, an additional interest bonus of 0.25% is available.
In the business year 2023, Munich City Savings Bank achieved an annual result of 48 million euros. As of 2024, the bank has an average balance sheet total of 22.9 billion euros, making it the fourth-largest savings bank in Germany. The institution employs 2,316 people, including 245 trainees.
Munich City Savings Bank's deposits are considered very secure, and the bank is the market leader in private and corporate customer business in Munich. Regularly high Festgeld offers can be found in the BÖRSE ONLINE Festgeld-Vergleich, but historical data on previous interest rates or validity periods for their Festgeld products could not be found in the provided results.
[1] Source: BÖRSE ONLINE Festgeld-Vergleich (accessed on July 14, 2025)
Munich City Savings Bank, in addition to its competitive time deposit rates, offers its services to both businesses and individuals, providing secure personal-finance solutions. For instance, the bank's time deposit accounts, known as Festgeld, are suitable for personal-finance management due to their attractive interest rates and wide range of deposit amounts.
