The best money market accounts for women at a glance and a provider comparison. Get the best money market interest rates with our tips. Set aside a daily allowance for the family now and save additional household money.
A call money account also offers the household the opportunity to put money aside for the family. Compared to the savings account, the call money account has several advantages and is particularly impressive due to its flexibility as an investment product.
What is a call money account?
The overnight money account is an interest-bearing account where you can invest your money. However, this is not a checking account. You cannot make transfers or set up standing orders with the call money account. It has no specific term and you can withdraw your money at any time. Therefore, using overnight money is very flexible. You also get interested in the money you deposit. These are usually based on the key interest rate.
One account for flexible use
The term “call money account” already indicates that the money is available at any time. Accordingly, it is particularly suitable as a short-term interim storage facility for unused household money. You can also invest money here for unplanned expenses in an emergency. So you have enough money on hand in case your washing machine breaks down or you and your family want to buy a new sofa. For this, you can transfer the remaining money from the current account to the overnight money account after the receipt of the monthly income. Please also note our article on free checking accounts in comparison.
Top 3 providers for call money accounts in the test
Many people still use their checking account simply to manage monthly income and expenses without considering using an overnight account. But this can be a good way to save money flexibly. There is also interest, which is low, but better than none at all. Therefore, you should definitely look for the best interest rates from the providers. As a result, you can easily and conveniently compare the best banks with money market accounts with us.
Compare money market interest rates
Due to the devaluation of the euro and the current negative interest rates of the central banks, the interest rate level has fallen sharply. Therefore, there is less interest than a few years ago, especially for overnight money. Call money accounts currently only pay between 0.1 and 1.5 percent interest. But still better than getting nothing for the money. In addition, note our articles on the free credit card comparison and the digital budget book to reduce expenses.
The advantages of a call money account at a glance
A call deposit account combines lucrative savings with flexibility and thus offers advantages over a classic savings book or fixed-term deposit account. Compared to particularly profitable options such as the purchase of fund shares, the overnight money is extremely secure thanks to a state guarantee. However, this is not sufficient for effective retirement provision. But all German financial institutions are monitored by the Federal Financial Supervisory Authority (BaFin) and are also subject to state deposit insurance. Every customer is therefore 100 percent secured with at least 100,000 euros at every bank. But there are also disadvantages.