The 10 Best German Savings Accounts
When it comes to saving money in Germany, choosing the right savings account can make a significant difference in terms of interest rates, fees, and flexibility. Therefore, select the best savings accounts in Germany that offer the exact benefits to suit your financial needs.
- 3.30% interest garantee for 6 months
- For deposits up to €250,000
- Monthly payout
- 3.30% for the first 6 months
- Daily available
- Free online transfers to reference account
Opening a savings account, or „Tagesgeldkonto,“ in Germany is a smart way to earn interest on your savings while maintaining easy access to your funds.
Here are 7 aspects, investors should consider when choosing and opening a savings account:
By considering these factors, investors can choose a savings account that best suits their interests, ensuring a secure and profitable place for their funds.
At One glance
Info | Trade Republic | Consorsbank | Suresse Direkt Bank | TF Bank | Barclays | Santander | 1822direkt | ING | Comdirect |
---|---|---|---|---|---|---|---|---|---|
Interest | |||||||||
New Customers | 3.75% p.a. | 3.75% p.a. (5 months) | 3.60% p.a. (6 months), after: 2.80% p.a. | 3.75% p.a. (3 months) | 3.60% p.a. (3 months) | 3.50% p.a. (6 months) after: 0.30% p.a. | 3.30% p.a. (6 months) after: 0.60% p.a. | 3.30% p.a. (6 months) after: 1.25% p.a. | 3.25% p.a. (3 months) |
Existing Customers | 3.75% p.a. | 1.00% p.a. | 2.80% p.a. | 1.45% p.a. | 1.20% p.a. | 0.30% p.a. | 0.60% p.a. | 1.25% p.a. | 0.75% p.a. |
Payout | Monthly | Quarterly | Monthly | Monthly | Annually | Monthly | Annually | Annually | Quarterly |
Deposit protection (per person per bank) | €100,000 | €100.000 | €100,000 | SEK 1,050,000 (ca. €95,464.70) | €100,000 (additional protection: up to €5 mio.) | €100,000 | €100,000 | €100,000 (additional protection: up to €5 mio.) | €100.000 |
Maximum deposit for interest | €50,000 (for TR checking account customers: unlimited) | €1,000,000 | €1,000,000 | €100,000 | €250,000 | Unlimited | €250,000 | €250,000 | €1,000,000 |
Daily available | |||||||||
Website | traderepublic.com | consorsbank.de | suressedirektbank.de | tfbank.de | barclays.de | santander.de | 1822direkt.de | ing.de | comdirect.de |
How to Open a Savings Account Online
Opening a savings account, aka „Tagesgeldkonto,“ online in Germany is a straightforward and convenient process.
Here’s a step-by-step guide to help you get started:
By following these steps, you can open a savings account online efficiently and securely, allowing you to start earning interest on your savings right away.
A savings account offers a secure and flexible way to save money, though it comes with variable interest rates and no direct access via cards.
Advantages and Disadvantages of a Savings Account
Advantages of a Savings Account
Disadvantages of a Savings Account
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Interest Rates
Variable rates can be reduced at any time.
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Inflation
Interest rates may be lower than the inflation rate, reducing the real value of savings.
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No Cards
No direct payments or cash withdrawals; transfers to a reference account are required.
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Frequently Asked Questions: German Savings Accounts
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