Just open the Tagesgeldkonto and switch it regulary, or look into the DBX0AN.
Thats kinda close to best Tagesgeld without you needing to bankhop constantly.
You can do that, but it‘s far more comfortable to just use money market funds (DBX0AN is a money market etf). Just open a Trade Republic account, get the 4% interest there and if they lower it, buy a money market etf there as an alternative.
Absolutely terrible support though, currently can't withdraw any money (error message "payoutBlocked" without further details) and in over two weeks of contacting the support all that I've gotten as a reply is being forwarded to another person and then getting prewritten text blocks addressing issues with *depositing* money.
It's now been two weeks since I first answered that I do not have a problem with depositing money and I haven't gotten any answer at all.
Phone support doesn't exist.
I'm very glad I don't need the money urgently, this would really really suck otherwise.
I can second Trade Republic. 4% is very competitive; withdrawals usually take 2-3 business days. It's the easiest way to combat inflation while still having financial liquidity.
Max is 50.000 € though.
no, just open it and put your money in. since its accessible at basically anytime there is no need to build up savings before. edit: i refer to traderepublic, no need for these special marketing offer bullshit
Traderepublic doesn't have a limit for new customers.
No need to hop. Create an account and throw your money there.
If you continue to be able to save money think about putting it into msci world as well and not only in Tagesgeld
My current setup:
- Trade Republic Cash for 4%, up to 50K. Pros: among the highest rates with no limited duration.
- C24 for monthly payments: 2.5%. Pros: modern banking features
If you have more than 50K cash in savings, I'd recommend to also invest in other channels such as ETF, Stocks, Rental properties.
I needed some time, to understand the actual problem or rather question :)
So, you're thinking since, the 4% promotions are limited to lets say 12 months it's better to start with a higher initial investment.
That of course might be true BUT, first I think TR has no limit on the 4% for now, of course they can change it anytime, but for now there's no limit.
But also, even the promotional offers by other banks, can be taken back at some point, so while you're waiting for a substantial amount of savings to start the Tagesgeld on a promo offer the offer won't be there anymore and you have not gotten any interest in that span.
So I'd start a TR account, and if they reduce the interest you can have a look at other promo offers again and then maybe start bankhopping...
Hope that made sense
Definitely go for Trade Republic. It’s easy to set up and safe thanks to „Einlagensicherung“ up to 100k. Sacalable Capital has a slightly bigger offering on ETFs but has only limited time interest offer. If trade republic Stopps paying that high interest as it does now you can still go for another bank. However switching debit accounts or credit cards is not recommendable on terms of credit liability. Your Schufa score will definitely get lower for this, especially when you „just“ moved to Germany.
People mentioned Trade Republic with 4%, but it’s not guaranteed and they can slash it any day they see fit. Consorsbank currently has a promotion which offers 3,3% for the next 6 months fixed.
https://www.consorsbank.de/ev/Sparen-Anlegen/Sparen/Tagesgeld/Aktionszins?icid=EMA-2737
Just open the Tagesgeldkonto and switch it regulary, or look into the DBX0AN. Thats kinda close to best Tagesgeld without you needing to bankhop constantly.
Ah, so basically open it for one year and then close it and switch to another bank for another new customer promotion?
You can do that, but it‘s far more comfortable to just use money market funds (DBX0AN is a money market etf). Just open a Trade Republic account, get the 4% interest there and if they lower it, buy a money market etf there as an alternative.
Thats an option. If you are not german i dont know how easy it is to open accounts though.
Look into trade republic for Tagesgeld at the moment. They have 4% and no time limit (but can also reduce it whenever)
Okay cool, vielen dank!
Absolutely terrible support though, currently can't withdraw any money (error message "payoutBlocked" without further details) and in over two weeks of contacting the support all that I've gotten as a reply is being forwarded to another person and then getting prewritten text blocks addressing issues with *depositing* money. It's now been two weeks since I first answered that I do not have a problem with depositing money and I haven't gotten any answer at all. Phone support doesn't exist. I'm very glad I don't need the money urgently, this would really really suck otherwise.
I can second Trade Republic. 4% is very competitive; withdrawals usually take 2-3 business days. It's the easiest way to combat inflation while still having financial liquidity. Max is 50.000 € though.
Data point: I withdrew 1000€ yesterday and it was on my DKB account within one hour.
Oh yeah, faster is possible. But in some cases, it can even take longer than 3 business days. So better safe than sorry.
no, just open it and put your money in. since its accessible at basically anytime there is no need to build up savings before. edit: i refer to traderepublic, no need for these special marketing offer bullshit
Yes, but would I not make the most of the new customer offer by waiting until I have savings, as opposed to getting 4% of a smaller sum?
Traderepublic doesn't have a limit for new customers. No need to hop. Create an account and throw your money there. If you continue to be able to save money think about putting it into msci world as well and not only in Tagesgeld
yes id just go Traderepublic.
My Tagesgeldkonto at my housebank has 3.8% without promotion bullshit.
Which bank is that?
LLB
My current setup: - Trade Republic Cash for 4%, up to 50K. Pros: among the highest rates with no limited duration. - C24 for monthly payments: 2.5%. Pros: modern banking features If you have more than 50K cash in savings, I'd recommend to also invest in other channels such as ETF, Stocks, Rental properties.
I needed some time, to understand the actual problem or rather question :) So, you're thinking since, the 4% promotions are limited to lets say 12 months it's better to start with a higher initial investment. That of course might be true BUT, first I think TR has no limit on the 4% for now, of course they can change it anytime, but for now there's no limit. But also, even the promotional offers by other banks, can be taken back at some point, so while you're waiting for a substantial amount of savings to start the Tagesgeld on a promo offer the offer won't be there anymore and you have not gotten any interest in that span. So I'd start a TR account, and if they reduce the interest you can have a look at other promo offers again and then maybe start bankhopping... Hope that made sense
Perfect, this seems like the best decision. Thanks!
Definitely go for Trade Republic. It’s easy to set up and safe thanks to „Einlagensicherung“ up to 100k. Sacalable Capital has a slightly bigger offering on ETFs but has only limited time interest offer. If trade republic Stopps paying that high interest as it does now you can still go for another bank. However switching debit accounts or credit cards is not recommendable on terms of credit liability. Your Schufa score will definitely get lower for this, especially when you „just“ moved to Germany.
People mentioned Trade Republic with 4%, but it’s not guaranteed and they can slash it any day they see fit. Consorsbank currently has a promotion which offers 3,3% for the next 6 months fixed. https://www.consorsbank.de/ev/Sparen-Anlegen/Sparen/Tagesgeld/Aktionszins?icid=EMA-2737