Interest Rate and Guarantee Period
The Call money account of the Openbank* currently offers the highest interest rate in Germany. However, this interest rate only applies for six months and then drops to 1.00% pa up to an amount of 100,000 euros. The interest is credited monthly, which is advantageous for investors.
flexibility and availability
You can access your credit at any time and without restrictions.
Account Opening and Fees
Opening an account with Openbank is easy and uncomplicated. There are no account management fees or other costs. A free R42 card is included.
deposit insurance
Another advantage of the Openbank money market account is the deposit guarantee. Deposits up to 100,000 euros are protected by the Spanish deposit insurance.
Advantages
Openbank’s call money account currently offers the highest interest rate in Germany. Interest is credited monthly and there are no fees. Deposits up to 100,000 euros are protected by the Spanish deposit insurance.
Disadvantages
However, the interest rate is only temporary and falls after six months to 1.00 percent pa up to an amount of 100,000 euros. With this offer, no taxes on interest credits are paid to German tax authorities. However, no exemption order is possible, which means that investors have to submit a manual tax return.
Conclusion
The Call money account of the Openbank* currently offers the highest interest rate in Germany. However, this interest rate is only temporary and decreases after six months. Deposits up to 100,000 euros are protected by the Spanish deposit insurance. There are no fees, but no exemption application is possible. By the way: You can find the currently best overnight money offers in our overnight money comparison.
FAQ
What interest rates does Openbank offer for the call money account?
Openbank currently offers new customers the highest interest rate in Germany of 2.55 percent for six months on the call money account. At the end of the six months, the interest rate drops to 1.00 percent pa up to an amount of 100,000 euros.
How secure is the Openbank money market account?
Deposits up to 100,000 euros are protected by the Spanish deposit insurance.
How can I open an overnight deposit account with Openbank?
Opening an overnight deposit account with Openbank is easy and can be done online via the bank’s website. There are no fees and a free R42 card is included.
What advantages does the Openbank call money account offer?
The Openbank call money account currently offers new customers the highest interest rate in Germany. In addition, opening is easy, there are no fees and a free R42 card is included.
What are the disadvantages of the Openbank call money account?
At the end of the six months, a lower interest rate of 1.00 percent pa applies to the Openbank call money account up to an amount of 100,000 euros. Another disadvantage is that no exemption order is possible, so that a manual tax return is necessary.
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