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Chase Debuts in Germany With 4% Four-Month Savings Offer

The launch raises the stakes for German banks competing for savers.

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Das Logo der Digitalbank Chase ist in der Axel-Springer-Passage in Berlin zu sehen, in der sich auch eine Niederlassung der US-Großbank JPMorgan Chase befindet.
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Overview

  • Chase, which opened to German customers on Wednesday, is offering 4% interest for four months on an app-only instant-access savings account.
  • After the teaser, the rate drops to a variable 2% and deposits up to €1,000,000 qualify for the promotional rate.
  • Accounts are held at J.P. Morgan SE in Germany with statutory €100,000 coverage plus membership in the private deposit protection fund for added protection.
  • Comparison sites expect the move to intensify the ongoing rate race, with rivals currently pitching time-limited deals such as Consorsbank at 3.4% for five months and Sparkasse Braunschweig at 3.1% for eight months.
  • J.P. Morgan plans to broaden Chase’s German offering to a current account, investing and loans by the end of 2028, backing the push with a Berlin hub and major marketing spend.