Festgeld kurzfristig

Overview

"Festgeld kurzfristig" from Crédit Agricole Savings is a term deposit with a 12-month term. It targets savers who want to invest an amount from €5,000 for one year and earn a predictable return.

Interest rate

For the 12-month term, Crédit Agricole Savings pays 2.81% p.a. According to the available data, this rate applies to investment amounts from €5,000. The provider's own site advertises the offer with the note "rate of up to 2.81% p.a.". Whether the rate remains guaranteed and fixed for the entire term or could still change was not possible to verify via the linked offer page at the time of review, since access to the detail page was denied (HTTP 403).

According to the stored product data, interest accrues annually (data field "frequency": "Y"). For the 12-month term reviewed here, this means interest accrues once and is paid out at the end of the term together with the invested capital, rather than in instalments during the year.

How a term deposit generally works

With a classic term deposit, savers transfer an amount to the bank for a predetermined term - 12 months in this case. In return, they receive the deposited amount plus the agreed interest back at the end of the term. During the term, access to the invested money is usually not possible without losing interest. These general characteristics typically apply to term deposit products on the German market, but should be confirmed for this specific Crédit Agricole Savings offer against the individual contract terms.

Conditions

The minimum investment is €5,000. Further detailed conditions, such as a specific maximum investment amount, whether a reference account is required, or information on deposit protection, were not accessible via the available sources at the time of this review. Anyone planning to invest a six-figure amount should in particular clarify beforehand which deposit guarantee scheme the bank falls under and up to what amount the deposit is protected as a result.

Who is this term deposit for

This offer generally suits savers who want to invest an amount from €5,000 for exactly one year and are comfortable with the advertised rate of 2.81% p.a. Since key details on the rate guarantee, reference account, and deposit protection could not be confirmed as part of this review, it is advisable to check the full terms directly with the bank before signing a contract.

Taxation of interest income

In Germany, interest income from term deposits is generally subject to the flat-rate withholding tax (Abgeltungsteuer) of 25%, plus the solidarity surcharge and, where applicable, church tax. The saver's lump-sum allowance (Sparer-Pauschbetrag) currently stands at €1,000 for individuals and €2,000 for jointly assessed married couples and civil partners - capital income up to this amount remains tax-free per year, provided an exemption order (Freistellungsauftrag) is filed with the bank in good time. Savers who do not file an exemption order initially pay withholding tax on the full interest income and can reclaim any overpaid tax via their income tax return.

Verdict

At 2.81% p.a. for 12 months, Crédit Agricole Savings' term deposit sits within the range of comparable offers on the German market and requires a moderate minimum investment of €5,000. Since further conditions could not be verified at the time of this review, interested savers should confirm the details - especially the rate guarantee and deposit protection - directly with the bank before signing.