Tagesgeld

Introduction

Ferratum's Tagesgeld (instant-access savings) account targets savings-minded customers who want to park their balance flexibly, without tying up capital, at a fixed rate. According to the live offer page, the provider behind the offer is the Malta-based Multitude Bank plc, under which the Ferratum brand operates in Germany.

Interest Rate

According to the product data, the rate is 3.00% p.a. on balances up to €100,000, paid out monthly. The monthly interest credit results in a slightly higher effective annual yield of 3.01%. Unlike many competing offers with a time-limited promotional rate, the data for this product shows no separate, lower follow-up rate - the 3.00% rate is recorded as continuously valid, with no discernible time limit to just a few months.

Terms

Detailed information on account fees, minimum deposit, or the verification process could not be retrieved via the live offer page at the time of review; the linked landing page showed only the institution's name, without further product details. Since the account is offered by a Maltese bank, in the event of insolvency the Maltese deposit guarantee scheme applies under EU-wide harmonisation, also up to €100,000 per customer - but under Maltese rather than German supervision, which can be a relevant difference for security-conscious savers compared to domestic banks.

Pros and Cons

Pros

• 3.00% p.a. up to €100,000 with no apparent time limit
• Monthly interest payout
• Simple rate structure without complex tiering

Cons

• Provider is a Maltese, not a German, bank
• Little publicly available detail on fees and account opening
• Check terms and verification process yourself before signing up

Verdict

Ferratum's Tagesgeld account offers a solid, apparently unlimited rate of 3.00% p.a. up to €100,000. Since neither the account terms nor the verification details could be confirmed via the live offer page, and the account is run by a Maltese bank, interested customers should check the details directly with the provider before signing a contract.