The Best German Savings Accounts
- Stop settling for zero interest – make your savings finally work for you
- Snag the highest rates
- The best savings accounts – (Our recommendation: Trade Republic)
Reviewed by Yannek Rosenbrock, Finanzfuchs Editorial Team
Last Updated: September 2025
Our Top Pick
Trade Republic
- 2,00 % per year
- Interest on uninvested cash – with no limit on the amount
- Monthly payout
Consorsbank
- Interest rate: 3,10 % per year
- Applies to balances up to 1.000.000 €
- No account management fees
Suresse Direkt Bank
- 2.75 % variable interest rate per year
- Daily access to your funds
- 1.95 % per year for existing customers
TF Bank Savings Account
- Interest rate: 2.65 % per year for 4 months after account opening
- Access your funds anytime – deposit and withdraw money freely
- Country/Rating: Sweden / AAA
easybank
- Interest rate: 2.80 % per year
- No account management fees
- Additional deposit protection: up to 3 million €
(Deposit Protection Fund of the Association of German Banks)
Santander
- 2.30 % interest p.a. for 4 months
- Flexible access to your funds
- Compound interest through monthly interest payments
1822direkt
- Interest rate: 2.25 % per year for 6 months from account opening
- Access your funds anytime: deposit and withdraw freely
- Country/Rating: Germany / AAA 🇩🇪
ING
- Interest rate: 2.50 % per year for 4 months from account opening
- Access your funds anytime: deposit and withdraw freely
- Country/Rating: Germany / AAA 🇩🇪
Comdirect
- Promotional interest: 1.75 % p.a. for up to 12 months on balances up to 1.000.000 € with the free “Girokonto Aktiv” account
- No account management fees
- Funds available at any time
Here are 7 aspects, investors should consider when choosing and opening a savings account:
1. Interest Rates
The primary factor to consider when opening a savings account is the interest rate. Compare the annual percentage yield (APY) offered by different banks. Higher interest rates mean more earnings on your deposited funds. However, promotional rates may be temporary, so check the duration of the offered rates and the standard rate that applies afterward.
2. Fees and Charges
Many savings accounts come with no fees, but it’s important to read the fine print. Ensure there are no hidden charges such as maintenance fees, transaction fees, or penalties for withdrawing funds. A truly fee-free account will help maximize your savings growth.
3. Minimum Deposit Requirements
Some banks require a minimum deposit to open a savings account. Make sure you meet these requirements without stretching your finances too thin. Accounts with higher interest rates often have higher minimum deposit thresholds.
4. Accessibility and Flexibility
Consider how easy it is to access your funds. Savings accounts should offer flexibility in withdrawing money without penalties. Online and mobile banking features can add convenience, allowing you to manage your account and transfer funds easily.
5. Bank Reputation and Security
Choose a reputable bank with strong security measures. Look for banks that are part of the German Deposit Protection Fund, which ensures your deposits up to €100,000. Reviews and ratings from other customers can also provide insight into the bank’s reliability and service quality.
6. Additional Benefits
Some savings accounts come with additional perks, such as introductory bonuses, linked accounts, or integrated financial planning tools. These benefits can add extra value to your savings experience.
7. Application Process
The application process for opening a savings account should be straightforward. Most banks allow you to apply online by filling out a form and submitting necessary documents, such as your ID and proof of address. The verification process can often be completed via video call or in person at a branch or post office.
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:
1. Research and Compare
Begin by researching various banks and their savings account offerings. Compare interest rates, fees, minimum deposit requirements, and any additional benefits. The listed providers above are already an excellent selection.
2. Select the Best Option
Pick the savings account that best meets your needs based on your research. Look for accounts with competitive interest rates, no hidden fees, and flexible access to your funds.
3. Gather Required Documents
Before starting the application, ensure you have the necessary documents. Typically, you will need:
- Your tax identification number
- A valid ID (passport or ID card)
- Proof of address (recent utility bill or registration certificate)
4. Visit the Bank’s Website
Go to the website of the bank you’ve chosen by clicking the offer boxes above.
5. Fill Out the Application Form
Open the application form and fill in your personal details, including your name, address, contact information, and employment status. Ensure that all information is accurate and up-to-date.
6. Verify Your Identity
Most banks require identity verification to prevent fraud. This can usually be done through a video call (VideoIdent) or by visiting a post office for in-person verification (PostIdent). Follow the instructions provided by the bank to complete this step.
7. Submit the Application
Once you’ve filled out the form and verified your identity, submit the application. You may receive a confirmation email acknowledging receipt of your application.
8. Wait for Approval
The bank will review your application and conduct a credit check. This process usually takes a few days. You will be notified via email or mail once your account is approved.
9. Activate Your Account
After approval, you will receive your account details and any necessary login information. Follow the bank’s instructions to activate your account, which may include making an initial deposit.
10. Set Up Online Banking
If not already included, set up your online banking profile. This allows you to manage your account, view your balance, and transfer funds easily from the comfort of your home.
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
- Flexibility:
Easy deposits and withdrawals with no fixes terms. - Security:
Deposits insurance up to €100,000 per customer and bank. - Interest Rates:
Often higher interest rates than traditional checking accounts. - Cost:
Usually no account maintenance fees.
Disadvantages of a Savings Account
- Interest Rates:
Variable rates can be reduced at any time. - Inflation:
Interest rates may be lower than the inflation rate, reducing the real value of savings. - No Cards:
No direct payments or cash withdrawals; transfers to a reference account are required.
Frequently Asked Questions: German Savings Accounts
A savings account, known as a «Tagesgeldkonto» in Germany, is an interest-bearing account where you can deposit money and earn interest on your savings. It offers flexibility with no fixed terms, allowing you to withdraw funds anytime without penalties.
To open a savings account, you typically need to fill out an application form online or at a bank branch, provide identification (passport or ID card), proof of address, and your tax identification number. Some banks may also require proof of income.
Savings accounts offer numerous benefits, including higher interest rates compared to checking accounts, no fixed terms, easy access to funds, and security through deposit insurance up to €100,000 per customer and bank.
Savings accounts offer numerous benefits, including higher interest rates compared to checking accounts, no fixed terms, easy access to funds, and security through deposit insurance up to €100,000 per customer and bank.
Yes, most banks in Germany offer online and mobile banking services, allowing you to manage your savings account, transfer funds, and monitor your balance conveniently.
Many savings accounts in Germany have no maintenance fees. However, it’s important to check for any hidden charges such as transaction fees, foreign currency fees, or penalties for certain types of withdrawals.
A fixed-term deposit (Festgeldkonto) locks your money for a specific period with a fixed interest rate, while a savings account offers flexible access to your funds with a variable interest rate.
Yes, savings accounts in Germany are protected by the German Deposit Protection Fund, which insures deposits up to €100,000 per customer per bank, ensuring the safety of your money.
Some banks allow non-residents to open savings accounts, but the requirements and process may vary. Non-residents typically need to provide additional documentation, such as proof of residence in their home country.
To choose the best savings account, compare interest rates, fees, account features, and the bank’s reputation. Consider your financial goals and how frequently you need access to your funds. Use comparison websites to find up-to-date information on the best options available.
How we evaluate
- This is how we proceed: Our financial experts analyze each legal protection insurance policy based on publicly available information—e.g., scope of coverage, waiting periods, deductibles, and special conditions offered by providers. Only information that is transparent and verifiable is included in our evaluation.
- What counts and how much: What counts is what protects you in an emergency. The scope of benefits therefore carries the most weight—because it makes the decisive difference in the event of a legal dispute. Factors such as the amount of the deductible, waiting periods, or additional services can improve the rating, but they do not change the fact that the core coverage is too weak.
- Who we compare: Our comparison shows you a selection of legal protection insurance policies available nationwide. We focus on rates that are relevant and clearly comparable for many customers. We cannot provide a complete overview of the market—the conditions are too diverse and individual for that. But our financial experts filter out the most important providers for you—so you can find what really suits you faster.
Our process – how we compare products for you
Research: Mapping the Market
Before a product is included in our comparison, we systematically analyze the market: Which providers are there? What is really relevant? Which criteria are decisive for different life situations?
Comparison: What Matters vs. What Doesn’t
We examine costs, performance, user-friendliness, and many other factors. The result is a transparent comparison with real advantages and disadvantages – without marketing jargon.
Recommendation: The Leading Providers
We only show you the products that impress us in our analyses. So you can find what suits you faster and make an informed decision. The Finanzfuchs score helps you find your way around.