Compare Fixed-Rate Deposits in Germany

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What is Fixed Deposits in Germany?

A fixed deposit, known in Germany as Festgeld, is a savings account where you lock a lump sum for an agreed term at a guaranteed interest rate. Terms commonly run from three months to several years, and the rate is fixed for the whole period, so you know exactly what you will earn. In exchange for that certainty, your money is generally not accessible until maturity, which distinguishes Festgeld from instant-access Tagesgeld.

Fixed deposits suit savers who have a sum they will not need for a defined period and who want predictable returns without market risk. They became far more attractive as interest rates rose from 2022 onward, ending years of near-zero yields.

How the German market works

You can open Festgeld directly with a German bank such as Deutsche Bank, Commerzbank, ING Germany or N26, but a large share of the market now runs through savings marketplaces. Raisin (Weltsparen) is the best-known: it lets you access fixed-deposit offers from banks across Germany and the wider EU through a single account, often reaching higher rates from smaller or foreign institutions than your home bank offers. Providers like Bank of Scotland DE, easybank and NIBC Direct DE are common on these platforms, using EU passporting to serve German savers.

Rates track the European Central Bank's policy rate, so they rise and fall with the wider rate cycle. Longer terms sometimes pay more than short ones, but not always, and comparing across banks and platforms is worthwhile because the spread between the best and worst rates can be significant.

Benefits

Guaranteed return — the rate is fixed for the full term, so your interest is known in advance regardless of what markets do.

Capital security — deposits carry no market risk and are covered by statutory deposit protection.

Marketplace access — platforms like Raisin open up higher-paying banks across the EU from one application.

Choice of term — you can ladder deposits across different maturities to balance yield and access.

Simple to run — once opened, a Festgeld needs no management until maturity.

How to choose

Match the term to when you will actually need the money, because early withdrawal from Festgeld is often not permitted or carries penalties. Compare the annual interest rate (Zinssatz) across direct banks and marketplaces, and check whether interest is paid annually or only at maturity, which affects compounding on multi-year deals.

Confirm which deposit-protection scheme covers the bank and in which country it sits, especially for foreign banks accessed through a platform. Read the maturity instructions carefully: some deposits roll over automatically into a new term unless you give notice, so decide in advance whether you want automatic renewal or payout. Finally, factor in that interest is taxable and that a Freistellungsauftrag can shelter part of it up to the saver's allowance.

Leading providers in Germany

Raisin DE — the leading savings marketplace, aggregating Festgeld offers from many German and EU banks.

Deutsche Bank and Commerzbank — large domestic banks offering fixed deposits directly to their customers.

ING Germany and N26 — digital-first banks with straightforward online savings products.

Bank of Scotland DE and NIBC Direct DE — foreign banks serving German savers via EU passporting, often on marketplaces.

easybank — an online bank commonly featured for competitive fixed-term rates.

What it costs

Fixed deposits generally have no account or setup fees; the relevant number is the interest rate you earn, not a cost. Typical rates have ranged broadly with the rate cycle, with many one-year German offers sitting in the region of roughly 2.5 to 3.5 percent in recent times, though this moves with ECB policy and varies by term and bank. Returns are quoted per annum, and interest on German accounts is subject to the flat capital-gains tax plus solidarity surcharge unless offset by your saver's allowance.

Protections and regulation

Banks operating in Germany are supervised by BaFin, the Federal Financial Supervisory Authority, together with the Bundesbank. Deposits are protected under the statutory Einlagensicherung, which guarantees up to 100,000 euros per depositor per bank across the EU, and many German banks belong to additional voluntary schemes that extend cover further. When you use a marketplace to place money with a bank in another EU country, the deposit is protected by that country's statutory scheme up to the same 100,000-euro limit, so it is worth knowing where the bank is based.

Common questions

Can I withdraw early? Usually not; Festgeld locks your money until maturity, and early access is often unavailable or penalised.

Is my money safe? Deposits are protected up to 100,000 euros per bank under statutory Einlagensicherung.

How is the interest taxed? It is subject to German capital-gains tax, but a Freistellungsauftrag can shelter interest up to your saver's allowance.

Should I use a marketplace or my own bank? Marketplaces like Raisin often reach higher rates, while your own bank may be simpler; compare both.

Fixed-Rate Deposits in Germany — FAQ