Barclays today launches LeitzinsPlus, Germany’s first online instant-access savings account with an interest rate linked to the European Central Bank’s (ECB) base rate.
The product offers customers an interest rate composed of the ECB’s base rate, plus a fixed, guaranteed margin for the longer-term, currently set at three years.
Barclays promises to pass on 100 per cent of ECB rate changes promptly, providing maximum transparency for investors and ensuring fair interest rates.
LeitzinsPlus is launched under the Barclays brand and operations will be managed by Barclaycard in Hamburg.
Barclays is also launching a range of fixed-term deposits with one to five-year maturities in Germany.
To ensure a great customer experience, a new website barclays.de (new window) has been created. The site offers state-of-the-art technology, including enabling customers to email Barclaycard advisors securely and to authenticate transactions with their mobile phones.
Scott Henry, Head of Savings and Deposits in Germany, Barclays, said: “We are now offering German consumers a product that clearly addresses their desire for interest rate transparency, reducing their need to constantly re-evaluate their savings provider.
“This innovative product also builds on the superior customer service Barclaycard Germany already provides – it truly does make our customers lives much easier.”
The launch of LeitzinsPlus and fixed-term deposits in Germany marks Barclays first foray into the country’s retail savings and deposits market.
For more information, visit barclays.de (new window).