Best Savings Accounts in Germany with the Highest Interest Rates (2026)

Many people in Germany use a savings account as a separate place for money they don’t need every day. You move money from your current account into the savings account and earn interest on the balance.

Recently, some current accounts (Girokonto) in Germany started paying interest on your balance, so there is often no need to open a separate savings account. Opening a high-yield savings account in Germany usually only makes sense if:

Yes, German banks do offer high-interest savings accounts in Germany, but the best rates are usually promotional, limited to a few months and valid for new customers only. Right now, the best savings accounts in Germany pay up to 3.10% interest, for example Consorsbank* with its Tagesgeldkonto for the first three months. Comdirect*, BBVA* and TF Bank* also offer around 3% interest for a limited introductory period of 4–6 months.

After the promotional period, the rate drops to the standard level, which is usually much lower. If you want to keep earning the highest possible interest rate on your savings in Germany over the long term, you need to be prepared to move your money regularly from one bank to another as new promotions appear.

If you don’t want to chase every new promotion, it can be easier to choose one solid account with a decent ongoing rate. Personally, I don’t move my own savings every few months and keep them at 2% interest in an everyday account at Trade Republic*. It’s not always the absolute highest interest rate on savings in Germany, but it’s simple to manage and good enough for my savings goals.

A current account (Girokonto) in Germany is designed for everyday use:

Some current accounts now pay interest on your balance, but their main purpose is still daily payments and basic banking.

A savings account in Germany (Tagesgeldkonto or Festgeldkonto) is designed for money you don’t need every day. It:

Because more banks now pay interest on current accounts, the line between these two account types is not as strict as it used to be. In fact, this guide also includes some current accounts in Germany that pay a high interest rate on your balance. If you open one of these high-interest current accounts, it can effectively replace a separate savings account in Germany, because your everyday bank account already works as both your main account and your savings account at the same time.

A flexible savings account (Tagesgeldkonto) is the most popular choice for savings accounts in Germany. It:

A fixed-term savings account, or Festgeldkonto, is less flexible:

In theory, a Festgeldkonto should give you a higher interest rate in Germany in return for giving up flexibility. In practice, many fixed-term accounts do not pay much more than good Tagesgeldkonten or interest-paying current accounts. That’s why the list of the best savings accounts in Germany below focuses mainly on flexible savings accounts and current accounts with interest, which are easier to use for most people.

Before you choose a high-interest savings account in Germany, it helps to be clear about what the money is for. If it’s your emergency fund, you need fast access and a safe bank. If it’s money you won’t touch for a few months, the interest rate and how long it’s guaranteed become more important. The best savings account in Germany is the one that matches your time horizon and how much effort you’re willing to put into switching accounts.

Yes – most savings accounts in Germany do not charge a monthly fee. You simply earn interest on your savings balance and transfer money in and out from your current account when needed. The best savings accounts in Germany that I recommend in this guide are free and don’t have any monthly fees.

If you want flexible access to your money, look for Tagesgeld (instant-access) savings accounts or current accounts that pay interest on your balance. A Tagesgeldkonto in Germany allows you to withdraw or deposit money whenever you like by making a transfer to or from your main current account. There is normally no limit on how often you can move your savings.

Some modern current accounts with interest in Germany are even more flexible, because you can pay directly with the card and still earn interest on the remaining balance. In that case, your high-interest current account (Girokonto) effectively works as both a current account and a savings account in Germany. What you usually want to avoid, if flexibility is important, are fixed-term savings accounts (Festgeldkonto), because your money is locked for a set period and early withdrawals are very limited or not possible at all.

To find the best savings account in Germany for you, here’s what you should look at:

Below are some of the best savings accounts for earning a high interest rate on your savings in Germany right now. All details and interest rates are valid at the time of publishing and are subject to change, so always check the current conditions before you move a larger amount of money.

BBVA’s current account* is one of the strongest all-round options for high-interest savings accounts in Germany if you want both an everyday account and a place to keep your savings. The account is completely free – no salary transfer requirements and no minimum balance – and it pays 3% interest on your account balance for the first six months.

On top of that, you get 3% cashback on all card purchases with the included Visa debit card. The cashback is capped at 350 euros in card spending per month, so you can earn up to 10.50 euros per month or 63 euros in total over the promotional period. The account can be opened and managed fully online, in English or German, and comes with a free Visa debit card.

Because this is a current account that pays a high interest rate on your balance, it can replace both a separate savings account in Germany and your main everyday account. After the first six months, both the interest rate and cashback drop to the standard conditions – but this six-month promo period is still longer than many other high-interest savings accounts in Germany, which often only guarantee the top rate for three or four months.

This combination of a free everyday account, 3% interest for six months and cashback on card payments is why I think BBVA is one of the best high-interest savings accounts in Germany right now. Open your account here*.

Consorsbank* currently offers one of the better deals on short-term savings accounts in Germany with its Tagesgeldkonto. New customers can get an interest rate of 3.10% on savings up to 1,000,000 euros, guaranteed for the first three months. There are no account fees, and interest is credited quarterly. Your money stays fully flexible: you can transfer it out at any time. A free securities account (Depot) is automatically opened together with this high-yield savings account, and you can use it later if you want to invest.

After the three-month promotional period, the interest rate on this savings account drops to the standard rate. This Consorsbank Tagesgeld is mainly a good choice if you have a larger amount of savings that you are willing to move again once the promotion ends and want to benefit from one of the highest-interest savings accounts in Germany during that time. You are eligible if you have not held any account with Consorsbank in the last six months.

If you also need a new everyday account, you can combine this high-interest savings account with the Consorsbank current account welcome bonus of 200 euros* for an even better overall package – just make sure to open the savings account first and then the current account to be eligible for the increased interest rate promotion. Sign up for the savings account here.*

Comdirect* offers a strong combination of current account (Girokonto) and savings account for anyone looking for a high-interest savings account in Germany. If you open a Girokonto together with the Tagesgeld PLUS savings account, you’ll get 3% interest per year on your savings for six months on balances up to €100,000. On top of that, there is a €100 welcome bonus for opening the current account, if you meet a few easy conditions. The savings account is free; the current account is free with active use or if you are under 28. You can open both together here*.

The 3% interest rate applies for the first six months, which is longer than many other high-yield savings accounts in Germany that often only offer higher rates for 3-4 months. After the promo period, the interest rate drops to the standard level.

If you don’t want to open a current account, you can also use the Tagesgeld PLUS savings account* on its own. In that case, the interest rate for the first six months is 2.75% instead of 3%, on savings up to €100,000. Both the €100 Girokonto bonus and the promotional interest rate are only available if you haven’t been a Comdirect customer in the last six months.

TF Bank* is a Swedish online bank that offers a flexible high-yield savings account in Germany with a high interest rate of 2.80% for the first four months. After this introductory period, the rate drops to a lower standard level set by the bank (currently, 1.45%). Interest is calculated daily and paid out monthly.

This is a classic flexible savings account (Tagesgeldkonto): it comes without a card, and you move money in and out by transferring it to and from your current account. The account is free to open and manage, and everything is handled online, with interfaces available in English and German.

Deposits are protected under the Swedish deposit guarantee scheme, which covers up to 1,150,000 SEK per person and bank – this corresponds to roughly the equivalent of €100,000. TF Bank can be a good choice if you want a high-interest savings account in Germany for a few months and are comfortable moving your money again once the promotional period ends. Open your account here*.

Trade Republic* started as an investment platform, but it has also become a popular place to keep savings in Germany. Their everyday account pays a decent interest rate on your savings (uninvested cash balance), you get a free debit card for everyday payments, and you can invest with them too. Everything is managed in one sleek, modern app.

Trade Republic passes on the full European Central Bank deposit rate to your savings. At the moment, that means a 2% interest rate on your uninvested cash, with interest calculated daily and paid out monthly. This isn’t the very highest interest rate on savings in Germany, but it’s a strong ongoing rate without special “new customer only” conditions or a fixed end date.

I personally don’t move my savings every few months to chase the highest promotional rate and keep them with Trade Republic instead. For me, it’s a good balance between a solid return, a simple setup and not having to monitor every new offer. I also love the Trade Republic debit card, which is free and pays 1% cashback on card purchases. If you want more details, read my full Trade Republic review.

If you like the idea of managing your investments, savings and everyday banking in one place, Trade Republic can be a practical alternative to opening a separate savings account in Germany. Open your Trade Republic account here*.

Are savings accounts in Germany safe and covered by deposit protection?

Yes – savings accounts in Germany are protected by the statutory deposit guarantee scheme. For banks in Germany and the rest of the EU, deposits are usually protected up to the equivalent of €100,000 per person and per bank. Some banks are also part of additional voluntary schemes that cover even higher amounts,  but for most people the standard guarantee level is the relevant limit.

Are savings accounts taxed in Germany?

Yes. Interest from savings accounts in Germany is taxed as investment income. Banks usually deduct 25% Abgeltungsteuer (capital gains tax on investment income) plus a 5.5% solidarity surcharge on this tax and, if applicable, church tax. In practice, that’s roughly 26.4% tax on your interest if you don’t pay church tax.

You can earn up to 1,000 euros per year in capital income tax-free (2,000 euros for couples) under the Sparer-Pauschbetrag. To use this allowance directly at the bank, you submit a Freistellungsauftrag – this is a simple form where you tell the bank how much of your tax-free allowance to apply there. As long as your interest at that bank stays within the amount you have “freigestellt”, the bank does not withhold tax. If you do not submit a Freistellungsauftrag, the bank will withhold tax on all your interest, and you can only get any overpaid tax back later through your tax return.

Which bank in Germany offers the highest interest rate on your savings?

The best savings accounts in Germany are mainly offered by online and digital banks. Right now, the highest interest rates of 3-3.10% can be found at Comdirect*, BBVA*, and Consorsbank*. Traditional banks also offer savings accounts, but their standard interest rates are often lower unless they run a special promotion.

What minimum deposit do savings accounts in Germany require?

Most savings accounts in Germany do not have a minimum deposit – you can often start with a small amount. Some high-interest offers set limits on how much money earns the highest interest rate (for example, up to €50,000 or €100,000).

How do I open a savings account in Germany?

You usually open a high-yield savings account in Germany online. The typical steps are: fill in an application form, submit the required documents, complete an identity check via video or at the post office. Once your new savings account is open and you get your new IBAN, you can transfer money from your current account. If you already have a current account with the same bank, opening a savings account is often just a few clicks in online banking or the app.

Can I open a savings account in a German bank online?

Yes. Most banks in Germany that offer savings accounts allow you to open them fully online. You complete the application on the website or in the app, verify your identity digitally, and receive your account details by email or in online banking. You don’t usually need to visit a branch to open a high-yield savings account in Germany.

What documents do I need to open a savings account in Germany?

Typically, you need a valid passport or national ID card, proof of address in Germany, and your German tax identification number (Steuer-ID). Some banks may also ask for details of an existing current account in your name for transfers. Requirements can be stricter if you’re not yet registered in Germany or if you’re opening certain types of accounts as a non-resident.

If you’ve just moved to Germany or you’re not registered here yet, some banks won’t open a savings account for you, or they may ask for extra documents. In practice, this means it’s usually easier to open a savings account in Germany once you’re officially registered and already have a current account.