Compare Fixed-Rate Deposits in Denmark

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What are Fixed-Rate Deposits in Denmark?

A fixed-rate deposit (fastforrentet indlån or tidsindskud) is a savings account where you lock a sum of money for a set term at a guaranteed interest rate. In exchange for agreeing not to withdraw until maturity, you receive a higher, predictable return than an ordinary instant-access account. It suits savings you will not need for months or years.

How the Danish market works

Danish banks and specialist deposit providers offer terms typically from a few months to several years, with the rate rising for longer commitments. Because Danish base rates have been low historically, savers increasingly use marketplace platforms such as Raisin to reach higher-paying banks elsewhere in the EU through a single onboarding, rather than opening accounts one by one.

Rates are fixed at the outset and interest is usually paid at maturity or annually. Early withdrawal is often restricted or penalised, so you should only commit money you are confident you can leave untouched for the full term.

Benefits

Fixed deposits reward certainty and patience:

Guaranteed return — the rate is locked for the term, so you know exactly what you will earn.

Higher than instant access — committing your money for a period typically pays more than a flexible account.

Marketplace reach — platforms like Raisin open access to competitive EU banks from one Danish onboarding.

Disciplined saving — the fixed term discourages dipping into funds earmarked for a goal.

How to choose

Match the term to when you will need the money, since early exit is usually costly. Compare the annual rate across providers and terms, and confirm how and when interest is paid. Check that any bank you use, including those accessed via a marketplace, is covered by a deposit guarantee, and factor in tax, as Danish interest income is taxed as capital income.

Leading providers in Denmark

Providers active for Danish savers include Raisin DK, Nykredit, Spar Nord Bank, Bank Norwegian DK, Ikano Bank, Jyske Bank, Nordea Denmark and Bluestep Bank DK. Established banks such as Nykredit, Jyske Bank, Spar Nord and Nordea offer deposits directly, while Raisin acts as a marketplace channel to a wider range of EU banks and specialist savings banks like Bank Norwegian and Ikano.

What it costs

Fixed deposits do not usually carry account fees; the key figure is the interest you earn, which ranges from roughly 1.1% for shorter terms to around 3.2% for longer commitments, depending on the bank and prevailing rates. Remember that returns are taxed as capital income, so your net yield is lower than the headline rate.

Protections and regulation

Banks are supervised by Finanstilsynet, the Danish FSA, and deposits are protected by the Garantiformuen scheme up to the equivalent of EUR 100,000 per depositor per bank. When using a marketplace such as Raisin to place money with an EU bank, that bank's national deposit-guarantee scheme provides the same EUR 100,000 level of cover, so spreading larger sums across banks preserves full protection.

Common questions

Can I withdraw early? Usually only with a penalty or not at all until maturity. Is my money protected? Yes, up to EUR 100,000 per bank under the relevant guarantee scheme. Is interest taxed? Yes, as capital income in Denmark. Why use Raisin? It gives access to higher-paying EU banks through one MitID-based onboarding. Should I split large sums? Yes, spreading deposits across separate banks keeps each holding within the EUR 100,000 guarantee limit. What happens at maturity? The deposit and accrued interest are returned to you, and some providers offer to roll the sum into a new term at the prevailing rate unless you instruct otherwise.

Fixed-Rate Deposits in Denmark — FAQ