Compare Savings Accounts in Germany

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20 live offers compared from 20 providers, from 2% AER. Updated daily.

What is a Savings Account in Germany?

In Germany the everyday savings product is the Tagesgeld account ("day money"), an instant-access account that pays interest while letting you withdraw at any time. It sits alongside Festgeld (fixed-term deposits), which lock your money away for a set period in return for a fixed rate. A Tagesgeld account is not a current account: you cannot use it for direct debits or card payments. Instead you move money to and from a linked reference account. The rate is variable, so it can change after you open the account.

Tagesgeld is popular as a place to hold an emergency fund or short-term savings, because it combines flexibility with interest that comfortably beats a standard current account.

How the German market works

Rates on Tagesgeld are strongly influenced by the European Central Bank's policy rate, so they move up and down with the wider rate environment. Banks compete hard for new deposits, and many advertise elevated new-customer bonus rates that apply only for an introductory window (often the first few months) before reverting to a lower standard rate. Marketplaces such as Raisin (WeltSparen) let you access deposit offers from a range of banks across Europe through a single account, widening your choice beyond your home bank.

Alongside domestic institutions like Commerzbank, Deutsche Bank, HypoVereinsbank and Norisbank, several foreign banks market Tagesgeld to German savers, so it pays to compare the ongoing rate rather than just the promotional headline.

Benefits

Instant access — withdraw or top up at any time with no notice period or lock-in.

Deposit protection — balances are covered under Einlagensicherung up to €100,000 per customer per bank.

No account fees — Tagesgeld accounts are typically free to open and run.

Better than a current account — you earn interest on cash that would otherwise sit idle.

Easy to compare — a single variable rate makes offers straightforward to weigh up.

How to choose

Look past the bonus rate to the standard rate you will earn once the introductory period ends, and note how long that promotional window lasts. Check whether the top rate is limited to new customers or to a maximum balance. Confirm the deposit-protection scheme covering the bank, especially for offers routed through a marketplace or a foreign institution. Consider how quickly transfers to your reference account settle, and whether the provider is easy to reach if you need support. Because rates are variable, be ready to move your money if the bank cuts its rate.

Leading providers in Germany

Commerzbank, Deutsche Bank and HypoVereinsbank are large established banks offering Tagesgeld to existing and new customers. Norisbank is a well-known direct bank. Raisin (Raisin DE / WeltSparen) is a deposit marketplace giving access to many partner banks through one platform. Ayvens Bank, Bank of Scotland DE and Lloyds Bank DE are further providers marketing deposit accounts to German savers, often with competitive new-customer rates. Comparing across these helps you find both a strong promo and a solid ongoing rate.

What it costs

Tagesgeld accounts themselves are generally free of charge. The number that matters is the interest rate, and current offers on this page sit broadly in the 2.0% to 4.5% range. The upper figures usually reflect time-limited new-customer bonus rates, while the standard ongoing rate is typically lower. Interest is credited periodically (often monthly or quarterly). Remember that returns are subject to German tax on investment income, though a Sparerpauschbetrag (saver's allowance) shelters a set amount of interest each year if you file an exemption order.

Protections and regulation

Banks operating in Germany are supervised by BaFin, the federal financial regulator, alongside the Bundesbank and, for larger banks, the ECB. Deposits are protected by statutory Einlagensicherung up to €100,000 per customer per bank; many German banks also belong to voluntary schemes that cover higher amounts. For accounts offered by banks based in other EU countries via a marketplace, the €100,000 protection is provided by that country's national scheme, so it is worth confirming which scheme applies before depositing.

Common questions

Is my money locked in? No; Tagesgeld gives instant access. For a fixed rate over a set term, choose Festgeld instead. Can the rate change? Yes, the rate is variable and banks adjust it, often after a promotional period. Is my money safe? Balances are protected up to €100,000 per bank under Einlagensicherung. Can I use it like a current account? No; you move money via a linked reference account. Do I pay tax on interest? Yes, above your annual saver's allowance.

Savings Accounts in Germany — FAQ