The UnitPlus Tagesgeld-Index for Companies
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Business interest rates have been falling since September 2024
While interest rates in the capital markets have risen significantly in recent years, the balances in many corporate accounts remain in a "interest rate stagnation." Current data shows that German companies are holding a record-breaking €881 billion in liquid assets. Of this amount, €263 billion alone is in traditional overnight deposits. However, this is where the problem lies: A significant portion of these funds is earning interest well below the current market rate (€STR) at branch banks and savings banks.
The result is a significant 'interest gap': German companies miss out on approximately €1.9 billion in additional revenue annually because they do not invest their liquidity at market-appropriate rates. This effect particularly impacts the small and medium-sized enterprises (SMEs), which are crucial for Germany, as well as holding structures and sole proprietors who maintain necessary liquidity buffers in their business accounts.
Business interest rates have been falling since September 2024
1.20%
*
Current average interest rate on corporate overnight deposit accounts
The comparison between the official Euro interest rate of the ECB (€STR) and the actual interest rates for corporate overnight deposits clearly highlights the scale:
Market interest rate (€STR): Stood at 1.93% p.a. in January 2026.
Average overnight deposit rate for companies: Was only about 1.21% p.a. during the same period.
According to the UnitPlus Overnight Deposit Index for companies, German banks currently pass on only just over 50% of the possible interest rates to their corporate clients. The remainder is absorbed by the banks' margins.
Corporate cash interest rates at their lowest level since July 2023
Overnight deposits, Germany, interest rate, businesses, by month, in % p.a.
Source: BC Data, Barkow Consulting
Banks only pass on interest rates to companies at just over half the rate
In the long-term perspective of corporate overnight deposit rates, it is noticeable that banks have only partially passed on the interest rate increase since 2022 to companies.
The exclusive interest rate study by Barkow Consulting highlights the extent of the disadvantage: In October 2025, the market interest rate (€STR) was 1.93%, while corporate customers received only 1.21% on average in traditional overnight deposit accounts.
This difference of 0.73 percentage points is not a coincidence but a part of the business model of many retail banks. Due to the sluggishness in passing on interest rates, institutions retain a significant portion of the yield that should rightfully belong to the company.
Long-term trend
Overnight deposits vs €STR, Germany, interest rate, businesses & individuals, by month, in % p.a.
Source: BC Data, Barkow Consulting
Over €800 billion in corporate bank deposits in Germany
The insufficient pass-through of interest rate increases by banks becomes particularly striking when looking at the development of corporate balances in current, savings, and term deposit accounts. As of September 2025, German companies hold €854 billion in bank deposits — substantial funds that are not being used for operational purposes.
Companies with liquid assets of >€800 billion.
All bank deposits, Germany, portfolio, companies, by month, in € billion.
Source: BC Data, Barkow Consulting
New providers are also enabling medium-sized companies to access market interest rates.
While access to market-relevant interest rates like the €STR was previously reserved almost exclusively for large banks and institutional investors, new providers like UnitPlus Business are making this rate accessible to SMEs and GmbHs.
In doing so, companies invest directly in the money market to close this interest gap and benefit from daily interest credits and the maximum compound interest effect.
UnitPlus Overnight Deposit Index for Businesses
Here you can download the complete study with additional information.
Always optimally yielding with UnitPlus Business
Does your business want to be optimally invested through every interest rate environment and thus become independent of overnight deposit offers? Then we have developed the right solution for your business with UnitPlus Business. Achieve an annual interest yield of 2.40, which is significantly higher than the average interest rate on overnight deposit accounts.
Daily Availability
Deposits and withdrawals can be made flexibly at any time, and as special assets, the company's capital is fully protected.
