Editing Germany/Banking/Savings

{{DISPLAYTITLE:Savings Accounts in Germany (FAQ, Calculator)}}
'''Savings accounts''' pay interest on your money. There are two types:

* money market account (German: ''Tagesgeld'') and 
* fixed-term deposit account (German: ''Festgeld'').

{{FAQ|
{{FAQ/Item|q= Which type of saving account is right for me? |a=

It depends on how accessible your money shall be:

* Money market (''Tagesgeld'') deposit accounts let you add and '''withdraw money all the time'''.
* Fixed-term or fixed deposits (''Festgeld'') let you access your money '''only after the term ends'''.

However, fixed deposits usually offer a higher interest rate.

}}{{FAQ/Item|q= Are the interest rates fixed? |a=

* 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'''.

However, you will notice that interest rates in the Eurozone are very low. If you consider investing into shares and ETFs, check the [[Germany/Banking/Brokers|List of German Brokers]].

}}{{FAQ/Item|q= Are interest payments taxed? |a=
* Yes, in Germany capital gains from savings accounts are taxed with the '''Withholding Tax''' (''[https://en.wikipedia.org/wiki/Abgeltungsteuer#Germany 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'').
}}
}}
== Comparisons ==

=== List of Money Market Accounts (''Tagesgeld'') ===
{{FA-DE-Tagesgeldrechner}}

=== List of Fixed Deposit Accounts (''Festgeld'') ===
{{FA-DE-Festgeldrechner}}

== See also ==
* [https://germantaxes.de/tax-tips/capital-gains-withholding-tax/ Withholding Tax (Abgeltungsteuer) on Capital Gains] by ''germantaxes.de''

{{Notes}}

[[Category:Banking]]
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-<div style="display:none;"><ref name="affiliate" /></div>
+{{DISPLAYTITLE:Savings Accounts in Germany (FAQ, Calculator)}}
-{{Head
+'''Savings accounts''' pay interest on your money. There are two types:
-|Savings Accounts in Germany
-|with calculator
-|'''Savings accounts''' pay interest on your money. There are two types:
 * money market account (German: ''Tagesgeld'') and
 * fixed-term deposit account (German: ''Festgeld'').
-}}
 {{FAQ|
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 However, fixed deposits usually offer a higher interest rate.
-}}{{FAQ/Item|q= How is my money protected? |a=
-Cash deposits of individual customers in the EU are insured under a  deposit guarantee scheme of the country where the bank is registered in.<ref>{{Cite|date=2022-07-27|url=https://en.wikipedia.org/wiki/Deposit_insurance#European_Union|quote=requires all member states to have a deposit guarantee scheme}}</ref> The insurance sum is currently in every country €100,000 (or equivalent).
-So even if a bank goes bankrupt, '''your money up to €100,000 will be safe''', guaranteed by the government of the bank's country.
-This of course only helps if the country itself does not go bankrupt. For that reason, some people '''also pay attention to which country''' the bank is registered in.
 }}{{FAQ/Item|q= Are the interest rates fixed? |a=
@@ Line 35: / Line 23: @@
 }}{{FAQ/Item|q= Are interest payments taxed? |a=
-* Yes, in Germany capital gains from savings accounts are taxed with the '''Withholding Tax'''. <ref>{{Cite|date=2022-07-27|url=https://en.wikipedia.org/wiki/Abgeltungsteuer#Germany Abgeltungsteuer|quote=The Abgeltungsteuer (German, from Abgeltung "settlement", "discharge" + Steuer "tax") is a flat tax on private income from capital.}}</ref>
+* Yes, in Germany capital gains from savings accounts are taxed with the '''Withholding Tax''' (''[https://en.wikipedia.org/wiki/Abgeltungsteuer#Germany 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.
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 }}
 }}
-== Banks with English support ==
+== Comparisons ==
-* {{AffLink|bunq Easy Savings|bunq.savings}} – free online savings account with 1.31% p.a. <ref>as of 2023-01-25</ref>
-== Comparisons with Calculators ==
 === List of Money Market Accounts (''Tagesgeld'') ===