Penta's business customers can now access higher interest rates by investing in Raisin deposit products through their Penta accounts. In corporate banking, Germany leads with the lowest interest rates in Europe. The European Central Bank’s latest data showed that negative interest is incurred on business assets in Germany at an average of -0.34% per year. With deposits from the Raisin marketplace, Penta clients can avoid the negative rates, investing surplus liquidity within Germany as well as in other European markets. More than 22,000 small and medium-sized enterprises, freelancers, and self-employed people currently have Penta accounts and stand to benefit.

Through Penta’s integration of Raisin, its clients can open and centrally manage any number of deposits with just one login. The terms of the new deposits products range from daily availability to an investment horizon up to six years with an interest rate of up to 2.50% p.a. The minimum deposit amount is 5,000 euro, with the deposits protected up to at least 100,000 euro per depositor and bank by European legal deposit insurance. With German banks, deposits are additionally protected by the Federal Association of German Banks.

Jessica Holzbach, co-founder and Chief Customer Officer of Penta explained: "Through the cooperation with Raisin, we are one of the few digital financial service providers for business that can offer its customers a very good alternative to high costs caused by negative interest rates, such as those that arise after financing rounds of young companies. This option, which has long been available to private customers, is now also accessible to business customers at Penta. It’s quick, easy and digital - just as they are used to from Penta."

"Sophisticated liquidity management is more important than ever for companies to generate interest income. Through our cooperation, Penta creates solutions for more efficient liquidity management with very flexible options," added Lisa Schmid, Head of Business Clients at Raisin.