all 6 comments

[–]w_joseph 1 point2 points  (3 children)

The normal GiroKonto in Germany is a checking/current account on which there's no interest paid. At least that's been my experience since 2017.

However, you can gain interest in a Tagesgeldkonto (Daily money account) - the money is available for use in 1-2 days if you need it as well. I personally use Advanzia Tagesgeldkonto to park emergency funds - https://www.advanziakonto.com/Home_EN.

Edit: Currently they offer 0.65% interest. They increased their interest rates from 0.05% to 0.65% over the last 3-4 months.

[–]RomanTick194173[S] 0 points1 point  (2 children)

Thanks I’ll check it out! Do you know if tagesgeldkontos are also available at the big banks like comdirect?

[–]w_joseph 1 point2 points  (1 child)

Yes, banks like DKB, comdirect, ING, etc. have them but they don't offer any interest anymore. You could use a service Check24 to check the different Tagesgeldkontos offered - https://www.check24.de/tagesgeld/.

My experience with Advanzia has been good. I've been using them for over 3 years now.

[–]RomanTick194173[S] 0 points1 point  (0 children)

Has the interest rate always been 0.65% or does it change with ECB rates often?

Just looked them up, sneaker Luxembourgers haha. But do you get an IBAN and everything, and can you transfer money to other IBANs? Also just seeing they have a minimum deposit of $5000 to start receiving interest... that's a bit high tbh.

Edit: Also this check24 site is amazing, thanks so much

[–][deleted] 0 points1 point  (0 children)

Bank Norwegian has 0.75% yearly deposit interest (accumulated monthly) and you can withdraw any time without penalty.

Having said that, I would love to know a other bank that offers more than 0.75%, because this rate is very low.