Sparen: Vier Prozent und mehr – wann beenden die Tagesgeld-Zinsen ihren Höhenflug?

By May, the online bank Chase had launched a T-day deposit account with an impressive 4% interest rate, which was the highest on the market. Currently, six banks and brokers offer such high-interest accounts. Eight more financial institutions pledge 3.5% and higher. Financial analyst Ania Scholz Orfanidis, from FMH-Finanzberatung, attributes this surge to two factors: increased inflation and intense competition among banks.

Younger banks and brokers lure new customers with high T-day deposit rates, while established financial institutions must follow suit to retain clients. This competition has even reached established banks known for offering high interest rates. According to Rudolf Krux of biallo.de, this competition has even affected bank groups that rarely mention high interest rates.

T-day deposit rates are now at their peak, with no more than a few in the top half-percent of interest rates. Oliver Maier, head of the interest rate comparison at the Verivox portal, believes the competition among banks and brokers is unlikely to slow down soon. Krux is more cautious, stating that unless there are significant changes in inflation or competition, we are likely close to the peak.

A further interest rate increase by the European Central Bank (ECB) in the fall could not guarantee higher T-day deposit rates, as the ECB's rate hike in September 2023 did not result in higher T-day deposit rates. ECB's inflation target of 3.3% in Germany and the Eurozone could lead to further interest rate cuts. T-day deposit account holders should focus on the inflation rate, aiming for offers that exceed 3.3%.

However, constant switching between banks for the best interest rates, known as "Zinshopping," is not for everyone. Experts advise paying attention to interest rate guarantees, as the longer the guaranteed period, the higher the interest rates. T-day deposit offers, such as Bank of Scotland's one-year guarantee at 3%, are considered classic anchor products, used to attract new customers and retain existing ones.