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− | + | {{DISPLAYTITLE:List of German Savings Accounts}} | |
− | {{ | + | '''Savings accounts''' pay interest on your money. There are two types: |
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* money market account (German: ''Tagesgeld'') and | * money market account (German: ''Tagesgeld'') and | ||
* fixed-term deposit account (German: ''Festgeld''). | * fixed-term deposit account (German: ''Festgeld''). | ||
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{{FAQ| | {{FAQ| | ||
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However, fixed deposits usually offer a higher interest rate. | However, fixed deposits usually offer a higher interest rate. | ||
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}}{{FAQ/Item|q= Are the interest rates fixed? |a= | }}{{FAQ/Item|q= Are the interest rates fixed? |a= | ||
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}}{{FAQ/Item|q= Are interest payments taxed? |a= | }}{{FAQ/Item|q= Are interest payments taxed? |a= | ||
− | * Yes, in Germany capital gains from savings accounts are taxed with the '''Withholding Tax''' | + | * Yes, in Germany capital gains from savings accounts are taxed with the '''Withholding Tax''' (''Abgeltungsteuer''). |
* Basically, you pay '''25% flat''' on your earnings. | * 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. | * 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. | ||
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}} | }} | ||
}} | }} | ||
− | + | == Comparisons == | |
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− | == Comparisons | ||
=== List of Money Market Accounts (''Tagesgeld'') === | === List of Money Market Accounts (''Tagesgeld'') === |