GEFA FestGeld

What is GEFA FestGeld?

GEFA FestGeld is GEFA Bank's classic fixed-term deposit: a guaranteed rate fixed for the whole term, available across a wide range of maturities. Unlike the bank's own GEFA ZinsWachstum with its rising three-year interest ladder, here the rate for the chosen term is fixed and known from day one.

Interest Rate by Term

GEFA Bank offers its FestGeld across several term tiers, each with a fixed, guaranteed rate: 6 months at 2.60% p.a., 12 months at 2.70% p.a., 24 months at 2.80% p.a., 36 months at 3.00% p.a., 48 months at 3.10% p.a., and 60 months at 3.30% p.a. Longer terms of 4 to 10 years also carry rates between 3.00% and 3.30% p.a. The most commonly advertised 12-month term thus earns 2.70% p.a. – savers willing to tie up their money for longer are rewarded with a noticeably higher rate.

Minimum Deposit and Terms

The minimum deposit is EUR 10,000, making the offer more suitable for larger sums than for smaller savings amounts. GEFA Bank's offer page does not give a clear maximum deposit figure; the product database records a very high, seven-figure ceiling. No confirmed information is available on early withdrawal during the fixed-rate period – a classic fixed-term deposit is typically locked until maturity.

Who Is It For?

The product is aimed at savers with a larger sum they can do without in the medium term, who prefer a rate that is fixed and known from the outset and want to choose for themselves how long to tie up their money. Anyone looking for maximum flexibility alongside a rising rate should instead consider GEFA's ZinsWachstum with its three-year interest ladder.

Worked Example

On the EUR 10,000 minimum deposit, the 12-month rate of 2.70% p.a. works out to roughly EUR 270 a year in interest before tax. A 36-month term at 3.00% p.a. would earn around EUR 300 a year, and the longest available term of 60 months at 3.30% p.a. would work out to roughly EUR 330 a year – all figures on the same EUR 10,000 deposit amount.

Verdict

With term options from 6 months to 10 years and guaranteed rates between 2.60% and 3.30% p.a., GEFA FestGeld offers plenty of flexibility in choosing a term. The EUR 10,000 minimum deposit rules out smaller savings amounts, but the interest – especially for longer terms – is competitive. Before signing up, investors should check directly with the bank whether, and on what terms, early access to the funds is possible.