Compare Savings Accounts in Austria

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20 live offers compared from 19 providers, from 1.50% AER. Updated daily.

What are savings accounts in Austria?

A savings account (Sparbuch or Sparkonto) in Austria holds money you do not need day-to-day and pays interest on the balance. The traditional passbook Sparbuch remains culturally iconic, but modern daily-access savings accounts (Tagesgeld) and online savings products now offer better rates and instant transfers. Interest can be variable (daily-access) or higher on accounts with a notice period.

How the Austrian market works

Banks, direct banks and neo-brokers compete for savings deposits, with online and direct providers usually paying more than branch banks. Daily-access accounts let you withdraw anytime at a variable rate, while notice or bonus accounts pay more in exchange for restrictions or introductory periods. A crucial local point is tax: interest is subject to the 25% capital-gains tax on bank interest (KESt), which banks withhold automatically. The classic Sparbuch passbook, historically often held anonymously and gifted at christenings and communions, remains a cultural fixture even as its rates lag online alternatives. Deposit platforms and EU banks passporting into Austria have widened choice, letting savers chase higher rates elsewhere in Europe, though those balances sit under a foreign deposit-guarantee scheme rather than the Austrian one, a distinction worth checking before moving large sums.

Benefits

Instant liquidity — daily-access accounts let you withdraw whenever you need the money.

Better-than-current rates — savings accounts pay meaningfully more than a Girokonto.

Automatic tax handling — Austrian banks withhold the 25% KESt on interest for you.

Deposit safety — balances are protected up to €100,000 per bank.

How to choose

Compare the interest rate, noting whether it is a lasting rate or a time-limited new-customer bonus that later drops. Decide between fully flexible daily-access and higher-paying notice accounts based on when you will need the money. Check minimum and maximum balance limits, whether the rate is variable, and remember that the quoted rate is before the 25% KESt. Spread large sums across banks to stay within the guarantee.

Leading providers in Austria

Direct and digital banks such as easybank, Erste Bank, Hypo NÖ and international players like Consorsbank and Advanzia, plus neo-brokers Trade Republic and Trading 212 paying interest on cash, compete for savers. They differ on headline rates, bonus periods and flexibility. Cross-border EU banks passporting into Austria sometimes offer top rates but carry a foreign deposit-guarantee scheme.

What it costs

Savings accounts do not cost a fee but pay interest, commonly ranging from around 1.5% to 3.45% depending on the account type, notice period and any promotional bonus, before the 25% KESt is deducted. Daily-access rates are typically lower than notice or bonus rates. Introductory bonus rates often fall to a lower standard rate after the promotion ends.

Protections and regulation

Banks are supervised by the FMA and the Oesterreichische Nationalbank, and eligible deposits are protected by the statutory deposit guarantee scheme up to €100,000 per depositor per bank. Deposits at EU banks passporting into Austria are covered by that bank's home-country scheme up to the equivalent EU limit. Interest is taxed at 25% KESt, withheld at source by Austrian banks.

Common questions

Is interest taxed? Yes, at 25% KESt, withheld automatically by Austrian banks. Sparbuch or online savings? Online and direct accounts usually pay higher rates. Are bonus rates permanent? Often not; check the standard rate after the promotion. How much is protected? Up to €100,000 per depositor per bank.

Savings Accounts in Austria — FAQ