Top Yields for German Flexible Savings Accounts:
- Raisin Bank flexible savings account with 3.2% interest
- Consorsbank flexible savings account with 3.1% interest
- UmweltBank flexible savings account with 3% interest
A flexible savings account, or Tagesgeldkonto, offers a secure, accessible way to earn interest on your money in Germany. Maximize your savings in 2026 with our interest calculator to find the best Tagesgeldkonto. Enter your savings amount and duration, and compare yields in the account comparison:
Raisin Bank
Raisin StartZins
- 3.2% guaranteed interest rate for 3 months
- Deposit insurance in Germany
Commercial partner
Consorsbank
Tagesgeld
- 100 Euro on-top bonus
- 3.1% guaranteed interest rate for 3 months
- Deposit insurance in France
Commercial partner
UmweltBank
UmweltFlexkonto
- 3% guaranteed interest rate for 3 months
- Deposit insurance in Germany
Commercial partner
Tomorrow
Tagesgeld
- 3% guaranteed interest rate for 4 months
- Deposit insurance in Germany
Commercial partner
Renault Bank direkt
Renault Bank Tagesgeld
- 3% guaranteed interest rate for 3 months
- Deposit insurance in France
Commercial partner
Stellantis Direktbank
Stellantis Direktbank Tagesgeld
- 3% guaranteed interest rate for 3 months
- Deposit insurance in France
Commercial partner
Suresse Direkt Bank
Tagesgeld
- 3% guaranteed interest rate for 4 months
- Deposit insurance in Belgium
Commercial partner
Opel Direktbank
Opel Direktbank Tagesgeld
- 2.9% guaranteed interest rate for 3 months
- Deposit insurance in France
Commercial partner
TARGOBANK
Tagesgeld bei Depotwechsel
- 2.8% guaranteed interest rate for 12 months
- Deposit insurance in Germany
Commercial partner
TF Bank
TF Bank Tagesgeldkonto
- 2.8% guaranteed interest rate for 4 months
- Deposit insurance in Sweden
Commercial partner
ING
Tagesgeld (Extra-Konto)
- 2.75% guaranteed interest rate for 4 months
- Deposit insurance in Germany
Commercial partner
Santander
Tagesgeld
- 2.75% guaranteed interest rate for 4 months
- Deposit insurance in Germany
Commercial partner
Bank of Scotland
Tagesgeld
- 2.5% guaranteed interest rate for 3 months
- Deposit insurance in Germany
Commercial partner
Barclays
Tagesgeld
- 2.3% guaranteed interest rate for 6 months
- Deposit insurance in Austria
Commercial partner
XTB
XTB Tagesgeld + Depot
- 2.3% guaranteed interest rate for 3 months
- Deposit insurance in Germany and other countries
Commercial partner
Understanding Tagesgeld Accounts
What is a Tagesgeld Account?
A Tagesgeld account is a type of savings account in Germany, often referred to as a flexible savings account. It is a deposit account that offers a variable interest rate on your savings, allowing you to earn interest while maintaining easy access to your money. Unlike a fixed-term savings account, a Tagesgeldkonto provides the flexibility to deposit and withdraw funds whenever you need them.
When to Use a Tagesgeld Account?
Tagesgeld accounts are ideal for parking money you might need in the short to medium term. They are a great option for building an emergency fund, saving for a specific goal, or simply maximizing the interest earned on money you aren’t currently using. If you anticipate needing access to your savings, a flexible savings account is preferable to a fixed-term deposit account.
Advantages of a Flexible Savings Account
The primary advantage of a flexible savings account is its combination of accessibility and potential to earn interest. Unlike a checking account, Tagesgeld accounts offer a higher interest rate, allowing your money to grow. The variable interest rate can fluctuate with market rates, offering the potential for higher returns during periods of rising rates. Furthermore, the deposit insurance provided by German and EU banks ensures your money is safely protected.
Opening a Tagesgeld-Konto
Prerequisites for Opening an Account
To open a savings account in Germany, particularly a Tagesgeldkonto, you typically need to be at least 18 years old and a resident of Germany. Sometimes, options are available for minors that require parental or guardian consent. You will also need a valid form of identification, such as a passport or national ID card. A German bank may also require proof of address, like a utility bill, and information about your current account, which will serve as your reference account. In our individual account reviews, we describe the prerequisites for each Tagesgeldkonto.
How to Verify Your Identity
German banks offer several methods to verify your identity when you open a flexible savings account online. These include eID, VideoIdent, and PostIdent. Each method provides a secure way to confirm your identity and comply with German banking regulations.
eID Method
The eID method uses your German electronic identity card (Personalausweis) to verify your identity online. This requires an eID-enabled card reader – such as an NFC smartphone – and the associated PIN. It is a fast and secure way to open a German bank account, offering a convenient alternative to traditional verification methods and making it easier to open a flexible savings account.
VideoIdent Method
VideoIdent involves a live video call with a representative from the bank or a third-party provider. During the call, you will be asked to show your ID document to the camera, and the representative will verify your identity visually. This method is convenient as it can be done from anywhere with an internet connection and a webcam.
PostIdent Method
PostIdent requires you to visit a local post office with your ID document and a PostIdent coupon provided by the bank. The latter is usually provided as a PDF and must be printed before visiting the post office. A postal worker will verify your identity and send confirmation to the bank. While this method is more traditional, it is still widely used and accepted by many German banks. It may be the preferred option for those who are less comfortable with online verification methods.
Safety and Insurance of Flexible Savings Accounts
How Safe is a Flexible Savings Account?
A flexible savings account, or Tagesgeldkonto in Germany, is considered a very safe way to store your savings. German banks are subject to strict regulations and oversight, ensuring the stability of the financial system. Additionally, the deposit insurance scheme protects your money up to at least 100,000 euros, providing an additional layer of security. With a high degree of safety, the risk of opening a savings account is low.
EU Regulation on Money Insurance
The EU enables German savers to invest their money all over the continent to profit from the best interest rates. The European Union has established a harmonized deposit insurance scheme to protect depositors in case of a bank failure. Under this regulation, savings in a savings account are insured up to 100,000 euros per depositor, per bank. This means that if a German bank were to fail, your savings up to this amount would be protected. The regulation ensures a high level of protection for money held in deposit accounts. Deposit insurance is organized at the national level; therefore, its effectiveness also depends on each country’s financial stability.
Who Should Consider a Tagesgeld Account?
Target Audience for Tagesgeld Accounts
Tagesgeld accounts are suitable for a wide range of individuals looking for the best ways to manage their savings. They are particularly attractive to those who want to earn interest on their money while maintaining easy access. Savers building an emergency fund, accumulating money for a specific goal, or seeking a safe place to park their money will find a flexible savings account in Germany appealing.
Types of Banks Offering Flexible Savings Accounts
Many types of banks in Germany offer flexible savings accounts, including traditional brick-and-mortar banks, online banks, and cooperative banks. Online banks often offer higher interest rates on Tagesgeld accounts due to their lower overhead costs. Moreover, banks in other EU countries, such as Sweden and Italy, provide competitive rates. Comparing offers from various banks is crucial to finding the best savings account with the most favorable variable interest rate and conditions.
Interest Rates and Offers
Current Interest Rates for Flexible Savings Accounts
In 2026, interest rates on flexible savings accounts in Germany can vary significantly across banks. The best interest rate is currently offered by Raisin Bank at 3.2% per year. Generally, online banks tend to offer higher interest rates. Comparing offers from different banks is essential to finding the best savings account.
Factors Influencing Interest Rates
Several factors influence the interest rates offered on flexible savings accounts in Germany. The most significant factor is the overall interest rate environment set by the European Central Bank (ECB). When the ECB raises interest rates, banks often raise savings account rates in parallel to attract deposits. Other factors include the bank’s funding needs, competitive pressures, and the overall economic outlook. Banks often offer new customers a higher interest rate.
Promotional Offers for New Customers
Many German banks offer promotional interest rates to attract new customers to their flexible savings accounts. These offers typically provide a higher interest rate for a limited period, such as the first three to six months, after which the interest rate reverts to the standard variable rate. This is a great opportunity to earn additional yield. However, it is essential to consider the long-term interest rate and the savings account’s terms. It is also common to switch banks after the promotional period ends, a practice known as “Zinshopping” or “interest hopping”.
Tax Implications on Interest Earnings
Taxes Applicable to Savings Account Interest
In Germany, interest earned on savings accounts, including flexible savings accounts, is taxable. The applicable tax is the Kapitalertragsteuer (capital gains tax), which is a flat rate of 25% plus a solidarity surcharge (Solidaritätszuschlag) and, if applicable, the church tax (Kirchensteuer). However, there is an option called “Günstigerprüfung” when filing your annual tax declaration, which can reduce your charges to your personal income tax rate if it is below 25%. Moreover, there is an annual tax-free allowance, the Sparer-Pauschbetrag, which allows individuals to earn up to 1000 euros in interest tax-free each year.
Frequently Asked Questions
How often does Settle in Germany update the interest rates for the flexible savings account calculator?
Can I open a German flexible savings account online?
What is a reference account?
Can I open a flexible savings account in other EU countries with a residence in Germany?
What is a deposit insurance?
What alternatives to a Tagesgeldkonto exist?
How much does a Tagesgeldkonto cost?
