Festgeld

Introduction

The fixed-term deposit from pbb direkt, the online deposit brand of Deutsche Pfandbriefbank, is aimed at savers who want to invest a larger sum for a set period without needing access to the capital during the term. pbb direkt is a purely online bank with no branch network and handles account opening and administration entirely digitally. The offer suits security-focused savers who prefer a fixed rate over a variable one and don't need the money for a clearly defined period. Since pbb direkt offers several terms from one to ten years, the deposit can be used for both short- and long-term savings goals.

Interest Rate

For the 12-month variant recorded in our database, the interest rate is 1.50% p.a. for deposit amounts between €5,000 and €999,999. On its own offer page, pbb direkt also advertises significantly higher rates for longer terms: for EUR fixed deposits it promises rates "up to 3.25% p.a.", stating that a longer commitment leads to a higher rate — terms from 12 months up to ten years are included in the programme. For USD fixed deposits the page even mentions up to 3.75% p.a., though this comes with foreign-currency risk that is unlikely to be relevant for most German savers. The offer page does not make clear which specific rate applies to which specific term between 12 months and 10 years, so it's worth checking the bank's current rate sheet before signing up to confirm the exact rate for the desired term.

Terms and Fees

According to the provider, opening the account is free. Beyond the threshold stated for the 12-month variant (€5,000 to €999,999), no further details on minimum or maximum deposit are available; for USD deposits the bank explicitly states an "unlimited" investment amount. Whether a reference account at another bank is required is not documented on the offer page — however, this is standard practice for pure online fixed-deposit providers like pbb direkt, since deposits and withdrawals are usually processed exclusively via an existing reference account. Account management itself is entirely online; there is no personal branch contact — this suits savers who want a purely digital bank, but those who prefer personal advice should factor that in beforehand.

Pros and Cons

• Solid rate of 1.50% p.a. for a standard 12-month commitment
• Free account opening
• Terms from 12 months up to 10 years available, with potentially higher rates for longer commitments according to the provider
• USD fixed deposits also available, with unlimited investment amount

• Exact rate per term is not transparently shown on the offer page
• No details on minimum/maximum deposit outside the 12-month tier
• Capital is locked for the entire term, with no early access documented

Verdict

pbb direkt's fixed deposit offers a rate of 1.50% p.a. for the 12-month term on deposit amounts between €5,000 and just under a million euros — solid, but not a top rate for a one-year commitment. Savers willing to commit for longer can, according to the provider, benefit from significantly higher rates. Before signing up, it's worth asking pbb direkt directly for the exact rate for the desired term, since the offer page does not provide a complete overview here.