GE Money Bank Will Start With 5 Per Cent On The Day Money

The day account called TagesgeldFlex offers GE Money Bank 5.00% interest p.a. German customers with guaranteed them until January 1st, 2009. Now, the GE Money Bank also still little known in Germany has interest in the competition for the best day money and offers not only comparatively high interest rates for new customers, but an interesting structured and flexible day money account. P.a. receive smooth 5.00% interest users of that day money account up to the amount of a deposit of 100,000 euros and this guaranteed until 1 January 2009. This promises to be a very respectable return, because the interest rate shall apply as with most of these accounts already from the first euro.

There is not even a maximum plant height in this product. Although the 5.00% be granted only up to 100,000 euro, funds in bear interest but interest rate at the current ECB, which is currently at 4.00% and surpasses therefore the day money offers of many other banks. But also for investors that not only the temporary high interest rates take, but the day money account in the longer term would use this product offers an interesting component. As well as to the rate above the 100,000 euro already from the outset at the base rate of the ECB is based, are the overnight interest rates after 01.01.2009 for the entire investment amount calculated according to this rate. The first 100,000 euro receive an interest rate of 100% of the federal funds interest rate, which would be 4.00% p.a. for steady interest rates, amounts in 90% of the rate, so with 3.60% interest per year under current circumstances. A further advantage of this day money account is the high hedge, because deposits on this day money account be an amount hardly anyone on a day money will have secured up to a height of 37 million over the deposit protection fund of the Federal Association Deutscher Banken e.V.. A minor disadvantage this day money offer is the annual credit of interest rates. While other money market accounts that gets credited quarterly or even monthly interest and therefore in one year by compound interest benefit can, this is not possible with this product. This fact is balanced however by comparatively high interest rates, high deposit insurance, and the interest rate is fixed until the end of the year. Especially when one assumes rather steady or even rising rates, day money account the GE Money Bank offers high security in relation to the amount of savings that is unsustainable for a longer period of time.