The nice high savings interest rates are just crumbling away. On September 12th, the European Central Bank (ECB) is expected to cut key interest rates for the second time, thereby putting further pressure on savings rates in Germany. If you don’t need money for a long time, you can quickly secure high fixed-term deposit interest rates. Daily money accounts are ideal for amounts where you need to remain more flexible. However, there is a difficulty with them: those banks that pay particularly high interest rates often only guarantee them for a short period of time or even keep them completely variable. And those banks that guarantee their interest rates for a particularly long period of time often don’t pay very much.
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