Tagesgeld

A flexible easy-access savings account with no minimum deposit

J&T Direktbank's Tagesgeld (easy-access savings account) targets savers who want their money available at all times without committing to a fixed term. Unlike a fixed-term deposit, deposits and withdrawals are possible on an ongoing basis, which makes the product attractive mainly as a flexible reserve or emergency fund.

Interest rate

J&T Direktbank currently pays 2.00% p.a. on balances in the Tagesgeld account. According to both the database and the offer page, this rate applies from the first euro deposited up to a balance of €500,000 per customer — the offer page explicitly advertises "maximum rate applies up to €500,000." For amounts above that threshold, the bank states no fixed rate; a different, typically lower rate should be expected. There is no visible time limit on the 2.00% rate in either the database or the offer page — it is not marketed as a new-customer promotion with an end date. According to the bank, interest is paid out monthly into the Tagesgeld account, rather than credited only at year-end.

Terms, fees and safety

According to the offer page, account management is free, so no ongoing fee applies. No minimum deposit is required. One important technical requirement applies: deposits and withdrawals are only possible via a personal German reference account, i.e. an existing current account with a bank based or with a branch in Germany. A current account directly with J&T Direktbank is not required to open the Tagesgeld account, but this reference account at another German bank is. Deposits are protected under the statutory deposit guarantee scheme up to €100,000 per customer.

Who is this account for

The Tagesgeld account suits savers who want to build short-term available reserves while earning more interest than on a standard current account, without locking their money into a fixed term. Anyone who already has a German current account to use as the reference account can run the Tagesgeld account alongside it with little friction; without such an account, the product cannot be used at all. Savers with very high six-figure balances should check before opening the account exactly how amounts above €500,000 are remunerated, since no fixed figure is stated for that tier.

Verdict

J&T's Tagesgeld offers a straightforward, fee-free way to earn interest on flexible balances, at 2.00% p.a. up to €500,000 with monthly interest payouts. The only real hurdle is the requirement for a German reference account at another bank — anyone who meets that requirement gets a solid, always-available savings account with no visible time limit on the rate. Anyone actively looking for a Tagesgeld account without a promotional deadline should shortlist this provider for its uncapped-in-time 2.00% rate, and simply confirm the reference-account requirement beforehand.