Overview
- JPMorgan’s Chase launched a Chase Tagesgeld on May 28 that pays new customers 4% for four months on balances up to €1 million before reverting to a 2% variable base rate.
- Deutsche Bank’s Norisbank quickly matched with 4% for up to six months for new customers capped at €250,000 while other players such as Postbank, TF Bank, Consorsbank and Raisin published elevated, limited‑time rates.
- Many top offers are conditional or short‑lived: Postbank’s 3.2% requires opening and actively using a new Girokonto or the bonus is lost, TF Bank’s 3.25% is for four months to new customers, and many promos revert to far lower standard rates afterwards.
- Product structure and deposit protection vary widely — classic Tagesgeld sits on a bank’s balance sheet and is covered by EU statutory insurance up to €100,000 while broker or pooled‑cash setups like Trade Republic can channel money into funds that are not protected by deposit insurance.
- The push for high introductory rates reflects banks’ customer‑acquisition strategies in a market where ECB deposit rates are about 2% and average Tagesgeld yields are much lower, so savers must weigh short guaranteed returns against eligibility rules, caps and lower follow‑on rates.