Opening and keeping a deposit account is very easy. After the opening of the deposit account, you only have to transfer the deposit amount to the respective account. Term money accounts are very popular nowadays. The deposit accounts offer a combination of attractively high interest rates and absolute security. Time deposit accounts are becoming increasingly popular these days.
Tips and tricks for time deposits
The level of the fixed interest depends, among other things, on the key interest rate of the bank the economic conditions in the state concerned and the business situation of the financial institutions. Ultimately, however, it is always the house bank that determines the level of interest for its clientele. You can be sure that you are choosing the most suitable device with the best conditions first through a comparison.
If you are looking for the ideal time deposit account and compare offers from different nations, you will often find even more attractive investment opportunities than with time deposits in the Federal Republic. The deposit protection is regulated in the state law of the individual states. You can spend these savings on your clientele at lucrative interest rates.
Interest rates are constant until the end of the term
Regardless of whether you have chosen a direct debit or branch deposit account, there are usually no account opening and running costs. One way to ensure the lucrative interest on the time deposit is the distribution of savings on multiple deposit accounts. This means that you do not have to deposit the entire savings on a time deposit account, but set up multiple accounts with different durations.
Make sure that the interest rates are constant until the end of the term. Even with fixed-term deposits abroad, it can be beneficial to secure your savings to distribute the capital to different bank accounts. The investment of time deposits at a house bank over the agreed maturities is usually very easy.
Interest rate after the rollover
As a rule, the house bank contacts the bank customer before the deadline and independently extends the term deposit if the bank customer agrees. If you run your time deposit with an investment account, you can reuse all contracts in a single place, your accounts receivable area, with just a few mouse clicks. Decisive for the reinvestment are no longer the previous conditions, but the current interest of the house bank.
The interest rate after the rollover can therefore be greater or smaller than previously. Therefore, it is advisable to check the current conditions of each provider, before rushing to the renewal. The life extension is very easy, but the early eradication is much more expensive. Time deposits can be terminated early in only a few exceptional cases.
Flex money is basically a term money with particularly short maturities. These are usually only 2 weeks. However, your loan will not be re-paid after the end of the two-week period, but will remain on the Flexgeld account, as with overnight money, until you order the payment.
However, unlike fixed-term deposits, the interest rate is not the same for the entire duration, but usually two weeks.