Updated on 14 August 2020
In April 2017, GE Money Bank was acquired by Cerberus Capital Management and started operating as My Money Bank. My Money Bank is specialized in consumer credit, car loans and savings accounts.
Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.
Savings accounts are interest-bearing deposits accounts which allow to withdraw money at any time. While offering more flexibility, savings accounts usually provide lower interest rates than term deposit accounts.
The table above shows essential details of selected savings accounts products offered to retail customers by the banks in France: currency, interest rate per annum and deposit term. The savings accounts terms vary from 1 month to 1 years (12 months). The interest rates are within the range 0.30 - 0.30 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in France.
Country Deposit Rating. France's Moodys country ceiling (the highest rating that can be assigned) for deposits in local currency is set to Aaa (prime).
Deposit Guarantee. Savings accounts made with credit institutions in France are covered by deposit guarantee scheme up to 100,000 EUR per depositor.
Withholding Tax. Interest income gained on savings accounts by non-residents of France is not taxed. Interest gained on savings accounts by residents of France is taxed at 24.00% rate. When the interest is paid, this tax is automatically withhold from the savings account by the bank.