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    Earn up to 3.63% interest with the Peaks Interest Account

    With the Peaks Interest Account, you invest in an ETF that keeps your money safe with Deutsche Bank at an attractive variable interest rate.

    The Peaks Interest Account: the alternative to a savings account

    Get an attractive interest rate

    You invest in an ETF that keeps your money with Deutsche Bank. In return, Deutsche Bank pays the interest that European banks give each other. If the European Central Bank (ECB) adjusts the deposit rate, the interest on the Peaks Interest Account changes automatically accordingly.

    Your money is secure

    With the Peaks Interest Account, you invest in an ETF from DWS – one of the largest asset managers in Europe.

    The ETF holds the invested money against interest at Deutsche Bank. To protect your money against Deutsche Bank's insolvency, the ETF holds bonds as collateral. The value of this corresponds to the money that is held at Deutsche Bank.

    You are in control of your Interest Account

    There is no minimum deposit required, and no maximum amount you can deposit. Additionally, you can deposit and withdraw money every day that the stock markets are open, giving you full control over your money.

    The advantages at a glance

    Attractive interest rate

    Depending on the Peaks package you choose, you will receive between 3.38% and 3.63% interest annually. These interest rates are based on the European short-term interest rate (€STR).

    Protected money

    The ETF you invest in keeps your money safe with Deutsche Bank. To protect against Deutsche Bank's insolvency, the ETF holds bonds as collateral.

    Flexibility

    No minimum or maximum deposit, and you can withdraw your money freely.

    Let us answer your questions

    What is the current variable annual interest rate in the different Peaks packages?

    The current variable annual interest rates as of September 20, 2023, are as follows:

    • Start package: 3.38%
    • Complete package: 3.48%
    • Premium package: 3.63%

    For simplicity, the displayed variable annual interest rate already includes the variable costs of Peaks and the fund costs: these consist of 0.10% fund costs and variable costs ranging from 0.25% to 0.5% depending on your package.

    Please note that the package costs are not included in the variable annual interest rate shown above and are dependent on your package. You can find the package costs here.

    How does the Peaks Interest Account work?

    With the Peaks Interest Account, you invest your money in a money market ETF from DWS GmbH, one of the largest asset managers in Europe. The ETF invests your money with Deutsche Bank. In return, Deutsche Bank pays the ETF the €STR rate + 0.085%.

    €STR is the euro short-term interest rate: the interest rate that European banks charge each other when they lend each other money for a short period (one night) or when they hold money for each other. The €STR interest rate is published daily by the European Central Bank (ECB). When the ECB changes the deposit rate, the €STR rate also changes – and with it the interest rate on the Peaks Interest Account.

    To protect your money, the ETF receives collateral from Deutsche Bank in the form of government and corporate bonds. This collateral is worth exactly the money in the ETF, and fund manager DWS checks every day that this is still the case. If the daily check shows that the collateral is worth less, Deutsche Bank must make additional bonds available to the ETF. Just as many until the two values are the same again.

    So should Deutsche Bank default, the ETF has bonds as collateral, which can be used to sign a new contract with another bank. Or the bonds can be used to repay investors. There is a small risk that some of the secured bonds could lose value in the event of a default by Deutsche Bank. As a result, you can lose (part of) your investments. Therefore, we cannot say that your investment is 100% guaranteed, but the risk is small.

    You can find more information in the following document(s):

        How safe is my money in the Peaks Interest Account?

        Your money is invested in an ETF that keeps your money safe with Deutsche Bank. To protect your money in the event of Deutsche Bank's insolvency, the ETF is backed by government and corporate bonds. This collateral is worth exactly the money in the ETF, and fund manager DWS checks every day that this is still the case. If the daily check shows that the collateral is worth less, Deutsche Bank must make additional bonds available to the ETF. Just as many until the two values are the same again.

        If Deutsche Bank goes bankrupt, the ETF can use the bonds to start a new deal with another bank, or sell the bonds and use the proceeds to repay investors. This security reduces the risk that you lose (part of) your investments. The fund's publisher, Xtrackers, therefore rates the risk of the ETF as very low: risk level 1 on a scale of 7, with 7 being the highest risk category and 1 being the lowest.

        Can the value of my money decrease?

        The money you put into your Peaks Interest Account is invested in an ETF that holds its money with Deutsche Bank. The main risk is that the European deposit rate published by the ECB falls below 0%. In addition, Deutsche Bank could fail or default.

        The probability of negative interest is low, but it can occur. For example, the €STR rate has been negative in recent years because the ECB has cut interest rates below 0%. If this happens again, you can easily withdraw the money from your Peaks Interest Account or invest it with Peaks in another way. Peaks does not charge any transaction costs for this.

        If Deutsche Bank goes bankrupt, your money is protected by the bonds the ETF holds as collateral. Fund manager DWS checks on a daily basis whether the value of the collateral still corresponds to the value of the money (including interest) held by Deutsche Bank. If the value of the collateral is lower, Deutsche Bank must provide additional bonds as collateral. The collateral consists of government and corporate bonds.

        There is a small risk that some of the secured bonds could lose value in the event of a default by Deutsche Bank. As a result, you can lose (part of) your invested money. Therefore, we cannot say that your investment is 100% guaranteed, but you are taking a small risk.

        How does the Peaks Interest Account differ from a regular savings account?

        In a traditional savings account, your money is held by a bank. In the event of a bank's insolvency, your money is protected by the deposit insurance scheme up to an amount of €100,000. Amounts exceeding €100,000 are not protected. 

        With the Peaks Interest Account, you cannot rely on the deposit insurance scheme: Here, the construction with bond security provides additional protection. The security covers the total value of your investments, even if it exceeds €100,000.

        Do I always have access to my money?

        With the Peaks Interest Account, you are not required to invest your money for a minimum period of time to earn interest. Interest is accrued daily, and you can deposit or withdraw your money on business days when the stock markets are open. If you withdraw your money on a business day before 1:00 PM, it will be transferred to your bank account on the same day. Withdrawals made after 1:00 PM will be transferred back to your bank account on the next day. In certain circumstances, this process may take longer.

        What are the costs associated with the Peaks Interest Account?

        For simplicity, the displayed variable annual interest rate already includes the variable costs of Peaks and the fund costs: these consist of 0.10% fund costs and variable costs ranging from 0.25% to 0.5% depending on your package

        The package costs are not included in the variable annual interest rate shown and depend on your package. Peaks does not charge any transaction fees when you deposit or withdraw money. 

        You will incur spread costs set by the stock exchange, which range from 0.03% to 0.05%. 

        Do I need to pay taxes on my gains?

        Investors are always required to declare their capital gains from ETFs in their annual income tax return. This applies even if the gains are below the tax-free threshold or if the withholding tax has already been deducted. 

        This information does not constitute tax advice and cannot replace it.

        How does the interest get paid out?

        The interest rates you see on this page are annualised. This means that the interest on your balance grows a little each day until you reach the total rate after a year. Because the Peaks Interest Account is technically an investment account (and not a savings account), you don't get paid the interest at a specific time. To cash in your return, you have to make a withdrawal - effectively selling part of your investments. To do so, you don't have to sit out the whole year first; you can make a withdrawal at any time.

        Investing always involves risks. Know that you could lose (a part of) your invested money.

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