Overview
- Consorsbank now pays 3.4% per year for three months to new savers before reverting to a 0.8% variable base rate, which is the highest widely reported newcomer rate in late February.
- Rivals promote short windows too, including Norisbank at 3.33% for three months, BBVA at 3% for six months, Volkswagen Bank at 2.9% for six months, Suresse Direkt at 3% for four months, and Comdirect at 2.75% for six months.
- Trade Republic offers a standing 2% on uninvested cash; reports differ on any balance cap, and consumer advocates note that parts of cash can be placed in money‑market funds without deposit insurance.
- Traditional Tagesgeld deposits are individually insured up to €100,000 per customer and bank in the EU, whereas broker models use pooled trustee accounts and may route portions into market‑exposed vehicles.
- A Verivox review found many regional banks pay little or no Tagesgeld interest, with Bavarian Sparkassen and Volksbanken averaging about 0.35%, prompting guidance to compare effective 12‑month yields rather than headline teasers.