DKB's clever approach offers competitive interest rates for both new and current account holders, based on their daily earnings.
In the realm of online savings accounts, DKB, a popular digital bank in Germany, has recently announced an attractive promotion for both existing and new customers. The offer, available from November 5 to November 19, allows customers to secure an interest rate of 3.0% on DKB's online savings account.
For existing customers, the convenience of transferring fresh funds of up to 50,000 euros from another German bank to DKB's online savings account makes this offer particularly appealing. New customers, on the other hand, must open a checking account and complete the online savings account application to participate.
While DKB's promotion offers a solid but not top-tier rate compared to other online savings accounts in Germany, with interest rates around 1%, there are alternatives worth considering. For instance, TF Bank, a Swedish bank, provides a more attractive initial interest rate of 2.55% for the first three months, followed by 1.45% thereafter, along with monthly interest payments and no account maintenance fees.
However, it's important to note that TF Bank has limitations, such as a deposit cap of €100,000 and some language/customer service restrictions given its Swedish base. In contrast, DKB, being a well-established German bank, offers an English-language banking app and good overall convenience for residents.
Here's a comparison of the two:
| Feature | DKB (Nov 2021 promotion) | TF Bank (2025 example) | |-----------------------------|----------------------------|------------------------------------| | Interest Rate | ~1% | 2.55% initial (3 months), then 1.45% | | Interest Payment Frequency | Not specified | Monthly | | Account Fees | None mentioned | No maintenance fees | | Deposit Limit | Not specified | €100,000 | | Customer Service/Language | English app, Germany-based | Swedish bank, limited German/English support |
While DKB offers a reliable online savings option for German residents with decent rates and good service, other online accounts like TF Bank may provide higher returns initially but with some trade-offs in terms of deposit limits and customer support language.
It's worth noting that DKB's offer can be compared with other banks in the BÖRSE ONLINE checking account comparison. Moreover, no other online bank in Germany, except Targobank, offers a higher interest rate under the protection of German deposit insurance up to 100,000 euros than DKB's current promotion.
For some customers, the interest rate of 3.0% may be considered worth it, depending on individual financial circumstances. The interest guarantee lasts for six months, starting from December 1, 2024.
In conclusion, DKB's November 2021 promotion offers a competitive online savings account option for German residents, striking a balance between decent interest rates and good service. However, it's always wise to compare offers from various banks to find the best fit for your financial needs.
In the realm of personal-finance, residents in Germany considering online savings options might find DKB's promotion appealing, especially as it offers a higher interest rate of 3.0% compared to other banks. For those looking for an initial higher rate, TF Bank, with an offer of 2.55% for the first three months, is another option worth considering. In each case, business factors such as account fees, deposit limits, and customer service language may influence your decision.
