Editing Germany/Banking/Savings
Jump to navigation
Jump to search
Warning: You are not logged in. Your IP address will be publicly visible if you make any edits. If you log in or create an account, your edits will be attributed to your username, along with other benefits.
The edit can be undone. Please check the comparison below to verify that this is what you want to do, and then save the changes below to finish undoing the edit.
Latest revision | Your text | ||
Line 1: | Line 1: | ||
− | + | {{DISPLAYTITLE:List of German Savings Accounts}} | |
− | {{ | + | '''Savings accounts''' pay interest on your money. There are two types: |
− | |||
− | |||
− | |||
* money market account (German: ''Tagesgeld'') and | * money market account (German: ''Tagesgeld'') and | ||
* fixed-term deposit account (German: ''Festgeld''). | * fixed-term deposit account (German: ''Festgeld''). | ||
− | |||
− | + | <div id="faq"/> | |
− | + | == Frequently Asked Questions (FAQ) == | |
+ | |||
+ | === Which type of saving account is right for me? === | ||
It depends on how accessible your money shall be: | It depends on how accessible your money shall be: | ||
Line 19: | Line 17: | ||
However, fixed deposits usually offer a higher interest rate. | However, fixed deposits usually offer a higher interest rate. | ||
− | + | === Are the interest rates fixed? === | |
− | |||
− | |||
− | |||
− | |||
− | |||
− | |||
− | |||
− | |||
− | |||
− | |||
− | |||
− | |||
− | |||
− | + | * With money market accounts, the interest rate is not fixed. It can change from day to day. | |
− | * | + | * Fixed-term accounts offer a fixed interest rate. |
− | |||
− | |||
− | |||
− | |||
− | |||
− | |||
− | * | ||
− | == | + | === Are interest payments taxed? === |
+ | * Yes, in Germany capital gains from savings accounts are taxed with the Withholding Tax (''Abgeltungsteuer''). | ||
+ | * Basically, you pay 25% flat on your earnings. | ||
+ | * However, there's an allowance of €801 per year. It means that if you have earned less than €801 on interest payments in a year, you pay no Withholding Tax on this sum. Only earnings above will be taxed. | ||
+ | * When using a German bank for your savings, the bank automatically deducts your tax payments. If you want them to automatically respect your allowance, you can give them an exemption order (''Freistellungsauftrag''). | ||
− | + | == List of Money Market Accounts (''Tagesgeld'') == | |
{{FA-DE-Tagesgeldrechner}} | {{FA-DE-Tagesgeldrechner}} | ||
− | + | == List of Fixed Deposit Accounts (''Festgeld'') == | |
{{FA-DE-Festgeldrechner}} | {{FA-DE-Festgeldrechner}} | ||
== See also == | == See also == | ||
− | * [https://germantaxes.de/tax-tips/capital-gains-withholding-tax/ Withholding Tax (Abgeltungsteuer) on Capital Gains] by ''germantaxes.de'' | + | * [https://germantaxes.de/tax-tips/capital-gains-withholding-tax/ Withholding Tax (Abgeltungsteuer) on Capital Gains] by ''[https://germantaxes.de germantaxes.de]'' |
{{Notes}} | {{Notes}} | ||
[[Category:Banking]] | [[Category:Banking]] |