Top interest rates for overnight deposits: Three banks with 4.0 percent

2026-07-22

German savers can now choose from 29 banks offering interest rates of 3% or higher on Tagesgeld (instant-access savings accounts), with three banks currently leading the market by offering returns of up to 4%.

According to the latest market overview, Chase, the German subsidiary of JPMorgan Chase, is offering 4.0% annual interest for the first four months on deposits of up to €1 million. After the promotional period ends, the interest rate drops to 2.0%. Deposits are protected under Germany's statutory deposit guarantee of up to €100,000, with additional voluntary protection extending coverage to as much as €3 million per customer.

Norisbank is also offering a 4.0% annual interest rate, but for a longer promotional period of six months on deposits of up to €250,000. The offer is available to new customers who open a current account alongside the savings account. The current account remains free for customers under 30 years old or for those receiving at least €500 in monthly deposits.

The strong competition among banks follows changes in the European interest-rate environment. With the Europäische Zentralbank (European Central Bank) maintaining higher benchmark rates to combat inflation, financial institutions have begun competing more aggressively for customer deposits. As a result, 26 additional banks are now offering interest rates of at least 3%, giving savers more attractive options than they have seen in recent years.

Financial experts advise consumers to look beyond the headline interest rate before opening a new savings account. Promotional rates often apply only for a limited period or to new customers, after which returns may fall significantly. Savers are encouraged to compare the duration of promotional offers, maximum deposit limits, and deposit protection rules to ensure they receive the best long-term value.