Everyday money · General financial education

Current, instant access, term deposits

Three properties distinguish deposits: what the account is for, how quickly you can access it, and whether the rate is fixed or variable.

In more detail

A current account is for payments: incoming pay, transfers, a card. Instant-access savings are typically available daily, the rate may change, and they are usually not for everyday payments. A term deposit locks amount and rate for a term; early access is often limited or costlier. Brand names tell you none of this.

Background

Rate-change risk sits on both sides: variable can rise or fall; fixed stays inside the lock even if the market moves. At the end of a time-limited offer the same rate does not apply automatically. Check the date, the follow-on rate and access. Deposit protection is a separate topic and depends on jurisdiction, not on the product word. Finmon names no institutions.

An example

A “4% for six months” offer ends on the date. After that the then-quoted rate applies (often variable) and the same access rules only if the contract says so.

A common misconception

An account at a bank is an account at a bank. The rest is marketing.

Purpose, access and the rate lock distinguish deposits. Brands do not help with that.

Source: BaFin · Spareinlagen. Last reviewed: 2026-10-31. Editorially reviewed on 2026-10-31. Next review 2027-10-31. Version 0.2.0. Finmon explains. It does not advise. Not investment, tax or legal advice.