Chase Launches German Digital Savings Account With 4% Introductory Rate
Chase has launched a mobile-only digital savings account in Germany offering 4% annual interest for the first four months and 2% thereafter, with daily accrual. Deposits are insured up to €100,000 statutory and €3 million Deposit Protection insurance; consumer banking services will roll out by 2028.
1. Product Features and Interest Rates
Chase has introduced a mobile-only digital savings account in Germany that offers 4% annual interest for the first four months followed by a 2% variable rate. Interest accrues daily and is credited monthly, and customers can open accounts within minutes via VideoIdent or the national eID function.
2. Deposit Insurance Coverage
Customer deposits are protected up to €100,000 under Germany’s statutory deposit insurance and covered up to €3 million through the voluntary Deposit Protection Fund of the Association of German Banks.
3. Broader European Expansion
The German launch marks Chase’s second European market after the UK, where it has over three million customers, and feeds into a plan to introduce current accounts, investment services and lending products by 2028. The bank has established a Berlin office with more than 150 specialists as part of its consumer banking expansion roadmap.