Penta offers overnight and term deposits now

Penta, the digital platform for business banking, introduces overnight and term deposits from WeltSparen in cooperation with the fintech Raisin. The two companies, Penta and Raisin, thus enable better interest rates on business accounts for Penta’s customers – now more than 22,000 small and medium-sized enterprises, freelancers and self-employed. Due to the cooperation, companies can avoid negative interest rates and invest surplus liquidity at attractive interest rates and with deposit protection in Germany and Europe. 

Through collaboration with WeltSparen, companies can close and centrally manage any number of investments with just one login. The terms of the company’s fixed-term deposits and overnight money offers range from daily availability to an investment horizon of a maximum of six years with an interest rate of up to 2.50 percent per year. Deposits are already possible starting from a sum of 5,000 Euro and are protected up to at least 100,000 Euro per depositor and bank by the legal deposit insurance. With German banks, deposits are additionally protected by the Federal Association of German Banks.

Read more: Penta