Editing Germany/Banking/Savings
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}}{{FAQ/Item|q= How is my money protected? |a= | }}{{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. | + | Cash deposits of individual customers in the EU are insured under a deposit guarantee scheme of the country where the bank is registered in.{{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}} 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. | 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. | ||
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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'''. {{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.}} |
* 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. |