Compare Savings Accounts in Greece

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What is a savings account in Greece?

A savings account (λογαριασμός ταμιευτηρίου or προθεσμιακή alternative) is a bank account that pays interest on money you set aside while keeping it accessible. Unlike a fixed deposit, an easy-access savings account lets you withdraw without locking your money for a set term, though rates are usually lower in exchange for that flexibility. It is the first step for Greeks building an emergency buffer or short-term fund.

How the Greek market works

Greek banks compete for deposits with a mix of instant-access savings, tiered-rate accounts and promotional offers, often paired with a current account or salary deposit. After years of very low rates, higher euro interest rates lifted savings returns, prompting newer and smaller banks — notably Attica Bank and Optima Bank — to advertise more competitive rates to attract deposits, while the large systemic banks (Eurobank, Piraeus Bank, National Bank of Greece, Alpha Bank) offer scale and branch networks. Fintechs such as Revolut add savings features via EU-passported accounts.

Benefits

Easy access — withdraw when you need to, making these accounts ideal for emergency funds.

Interest on idle cash — earn a return rather than leaving money in a zero-rate current account.

Deposit protection — balances are covered by the Greek guarantee scheme up to €100,000.

Digital management — open and manage online with instant transfers to and from your main account.

Goal saving — some accounts let you create sub-pots or vaults to ring-fence money for specific plans.

How to choose

Compare the actual interest rate and whether it is promotional (dropping after a few months) or ongoing, plus any conditions like minimum balance, salary deposit or capped balances above which the top rate stops. Check withdrawal limits, whether interest is credited monthly or annually, and remember Greek interest is subject to withholding tax. Weigh a slightly higher rate at a smaller bank against your comfort with its size — the TEKE guarantee applies equally up to the limit.

Leading providers in Greece

Attica Bank and Optima Bank have led on headline savings rates as challengers seeking deposits. Eurobank, Piraeus Bank, National Bank of Greece and Alpha Bank offer the reassurance of the four systemic banks with broad branch and digital access. Revolut extends app-based savings options to Greek users through its EU licence.

What it costs

Savings accounts are typically free to open and hold, with no monthly fee. The relevant number is the interest rate you earn, not a price you pay, though watch for conditions and for the withholding tax deducted from interest. Some accounts require a minimum opening balance. In Greece, interest is subject to a withholding tax deducted at source, so compare rates on a net basis and factor in any balance cap above which the headline rate no longer applies.

Protections and regulation

Banks are supervised by the Bank of Greece (and the ECB for the largest institutions). Eligible deposits are protected by the Hellenic Deposit and Investment Guarantee Fund (TEKE) up to €100,000 per depositor, per bank — so spreading large balances across institutions can extend cover. Interest is reported and taxed under Greek rules.

Common questions

Is my money safe at a smaller bank? Yes, TEKE protection of €100,000 applies to all licensed Greek banks equally. Will the advertised rate last? Check whether it is a promotional introductory rate; many step down after a set period. Is interest taxed? Yes, savings interest is subject to withholding tax in Greece. Can I withdraw anytime? Easy-access accounts allow withdrawals; some tiered accounts limit the number for the top rate. Can I have accounts at several banks? Yes, and spreading balances keeps each within the €100,000 TEKE limit while chasing the best rates.

Savings Accounts in Greece — FAQ