Overview
- Comparison data show headline Tagesgeld offers up to 4 percent and two‑year Festgeld up to 3.3 percent, but many top rates are time‑limited or conditional and may require opening other products.
- EU law requires every deposit‑taking bank in the bloc to belong to a guarantee scheme that protects deposits up to €100,000 per person per bank.
- Certain one‑off receipts such as proceeds from the sale of a private home can be temporarily protected up to €500,000 for a limited period, but claimants must provide documentation to benefit.
- In Germany the regulator BaFin must declare a compensation event before the Entschädigungseinrichtung deutscher Banken (EdB) identifies depositors and aims to pay claims within seven working days after that declaration.
- Voluntary extra protection advertised by some banks is not the same as the statutory guarantee, guarantee funds have limited built‑in resources and savers should check the bank’s national scheme, country creditworthiness and product conditions before placing large sums.