Fixed-term deposits, daily money, ETFs: interest rates are falling again! Savers should definitely act now

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When the energy crisis began two years ago, interest rates also rose. Savers were sometimes able to enjoy interest rates of up to four percent. But those times are gone, interest rates are falling again. FOCUS online tells what savers should do now.

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Savers are benefiting from the rapid rise in interest rates in the eurozone. The interest on overnight money has almost quadrupled. But the euphoria seems to be slowly coming to an end. In the case of fixed-term deposits, the interest situation for investors deteriorates greatly. Now interest on savings is significantly lower. If you want to invest your savings, you need to act quickly.

Time deposits, overnight deposits or money market funds? Given the current (downward) interest rate fluctuations, the decision is not easy.

Deposit repaired

The highest interest rates for fixed-term deposits are found in foreign EU banks, which are also subject to deposit protection. Even if a bank gets into trouble due to, for example, high depreciation, savings are protected up to an amount of 100,000 euros.

However, the longer the term of the fixed deposit, the lower the interest rate. Currently there is the highest interest rate for one year and the lowest interest rate for eight years. Savers should take this into account and therefore pay special attention to the conditions of fixed-term deposit accounts. For smaller amounts, the so-called “fixed deposit ladder” is also useful. The sum is divided into equal quantities and step terms. This seems to be the best option at the moment, because it gives the investor a chance to get their money back after a short period of time and at the same time get better returns.

Find the best online fixed deposit providers with FOCUS

daily allowance

Savers who want to get their money quickly, for example to invest in a new car, a new heating system, a holiday or even a house, are currently better off with checking accounts. This is also the result of the Verivox comparison portal.

The advantage? Investors can withdraw their money at any time. The disadvantage? Interest rates of up to four percent are only guaranteed for a few months, after which things usually worsen dramatically. This makes a long-term investment unattractive.

Money market funds

A securities account as an alternative to a safe daily money account? What may seem strange at first can work. At least when you buy the right securities. Money market funds are investment funds that invest in the so-called money market. For example, in bank deposits, fixed-term deposits or bonds with a maximum term of 13 months, says Niels Nauhauser from the consumer advice center in Baden-Württemberg.

“Unlike overnight money, with money market funds you don't have to constantly search for the best interest rate offers and, if necessary, change banks,” says Baur. “Once purchased, you can let the fund run and you will no longer have to work with it.” Compared to everyday money, funds cannot lower their interest rates at will, says Michael Ritzau, owner of the South Baden commission. based consulting.

An analysis by Finanztip shows that significantly better returns could be achieved with a money market ETF than with the overnight average rate. Even those who were always looking for the best overnight money provider fell behind the money market fund in terms of profitability, but not significantly anymore.


Stock market investments have historically been the most lucrative forms of investment, despite all the price turbulence that has occurred in the meantime. Cautious investors use ETFs (exchange-traded funds). They incur very few costs and spread capital across a variety of different individual investments. This reduces investment risks.

ETFs based on the All Country World Index (ACWI) are particularly interesting. It includes shares of around 2,900 different companies from almost 50 countries. An example of this type of ETF is the iShares MSCI ACWI UCITS ETF (Acc) with ISIN IE00B6R52259.

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What causes the ups and downs of interest rates?

It started with the 10-year federal bond, which reached its highest level since 2012 in the fall, above three percent. As a result, construction interest rates rose rapidly and interest rates for fixed-term deposits and daily money also rose.

However, 10-year federal bond yields have been falling since October. Initially, banks did not react to this development regarding interest rates on fixed deposits. These values ​​have also been deteriorating since the end of the year, as shown by an analysis by the comparative portal Verivox. If before Christmas there were offers for a two-year term with an interest rate of 4.3 percent, two months later the same offers are well below 3.9 percent. The daily Frankfurter Allgemeine Sonntagszeitung (FAS) reports that several well-known banks, including Crédit Agricole and ING, have reduced interest rates by almost 0.75 percentage points.

According to an analysis by the comparative portal Verivox, the biggest drop occurred in fixed-term deposits, which are invested for five years. Active banks across the country offered an average interest rate of 2.81 percent at the end of January. At the beginning of the year it was 3.01 percent. The average interest rate for overnight money with offers available nationwide remained virtually unchanged at 1.72 percent.

“I no longer expect fixed deposit offers above four per cent this year. Depending on the term, it will probably be only 2.5 to 3 percent,” says Ania Scholz-Orfanidis of the financial consultancy FMH. Jan Holhusen, head of research at DZ Bank, thinks the same. He looks at the forecasts for federal bonds. The peak has been reached and these values ​​will no longer be reached.

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