Overview
- The European Central Bank raised its deposit rate by 0.25 percentage points to 2.25% in mid‑June, creating room for banks to raise retail rates.
- In late June and early July several firms launched aggressive promotions with headline Tagesgeld rates up to about 4% and an outlier at 4.05% from Bigbank, typically guaranteed for three to six months.
- A Biallo comparison found that only 12 of roughly 800 German banks materially passed the ECB hike to customers in the two weeks after the move, leaving most standard rates low.
- Top offers often come with new‑customer rules, balance caps, tied Girokonto requirements and the EU statutory deposit insurance limit of €100,000, so large savers must check eligibility and split funds to stay insured.
- Brokers and fintechs are bundling higher cash yields with trading services, which is prompting widespread 'Zins‑Hopping' by consumers and may pressure traditional banks to widen pass‑through or expand promotional campaigns while long‑term real returns remain constrained by inflation.