Decision Summary
Overall outcome based on all metrics
✓ Consorsbank (3,40% Tagesgeld bonus) or Trade Republic (2,00% permanent) wins
For maximum rate in Germany in June 2026: Consorsbank at 3,40% for 5 months is the top promotional Tagesgeld rate - ideal for savers who actively manage their savings and are willing to switch after the promotion ends. ING is close behind at 3,20% for 4 months and is better for savers who want to combine the savings account with a full German current account relationship. For a permanent set-and-forget rate: Trade Republic at 2,00% requires zero management - no switching, no promotion tracking, available to all customers. Expats wanting English-first service should choose TF Bank (3,25% introductory, 1,45% standard) or Trade Republic. For fixed-term Festgeld: Raisin via SWK Bank at 3,50% for 6 months is the best short-term fixed rate, with 3,00-3,20% available for 12-month terms from multiple EU banks. The German big three (Deutsche Bank, Commerzbank, Sparkasse) should be used for current account and mortgage only - not for savings.
Best promotional Tagesgeld rate
🇩🇪 Consorsbank (3,40% for 5 months)
Highest introductory Tagesgeld rate in Germany June 2026. EUR 1.000.000 cap. German DGS. Free custody account included.
Best permanent Tagesgeld rate - no promotion
🇩🇪 Trade Republic (2,00% permanent)
2,00% with no expiry, no new-customer restriction, no balance cap. Monthly interest. German DGS. Combined with free ETF and stock investing.
Best fixed Festgeld rate
🔒 Raisin via SWK Bank (3,50% for 6 months)
Top short-term Festgeld rate in Germany June 2026 via Raisin marketplace. Access to 100+ EU banks. Spread deposits to multiply deposit insurance.
Best for expats wanting English service
🇩🇪 TF Bank (3,25% introductory) or Trade Republic
Both offer full English-language apps. TF Bank gives 3,25% for 4 months then 1,45%. Trade Republic gives 2,00% permanently with investing included.
Best combined savings and investing platform
🇩🇪 Trade Republic or Scalable Capital
Trade Republic 2,00% cash plus free ETF and stock trading. Scalable Capital approximately 2,50% cash plus robo-advisor and ETF plans. Both German-licenced with German DGS.
3,45%
Top flexible Tagesgeld rate (June 2026)
Advanzia Bank - 3,45% for 3 months introductory. Consorsbank 3,40% for 5 months. ING 3,20% for 4 months. Trade Republic 2,00% permanent with no cap. Source: Finanztip June 2026, Handelsblatt June 2026
up to 3,50%
Top fixed-term Festgeld rate (June 2026)
Via Raisin/Weltsparen marketplace - SWK Bank 3,50% for 6 months, various EU partner banks for 12-month terms around 3,00-3,20%. Source: settle-in-germany.com / Raisin June 2026
2,00%
ECB deposit rate (June 2026)
ECB deposit facility rate as of June 2026. Down from 4,00% peak in 2023. Sets the floor for Eurozone savings rates and has driven Tagesgeld rates down from 4%+ highs.
0,75-1,25%
German big bank standard rates
Deutsche Bank, Commerzbank, Sparkasse standard variable rates well below challenger banks. ING standard rate 0,75% (promotional 3,20% for 4 months). Source: Handelsblatt / Finanztip June 2026
EUR 1.000
Sparerpauschbetrag tax-free allowance
Per person per year tax-free on savings interest (EUR 2.000 for couples). Above this, 25% Kapitalertragsteuer plus Soli applies. File a Freistellungsauftrag with your bank. Source: Bundeszentralamt fuer Steuern 2026
⚖️ Side-by-Side Comparison
Metric
🇩🇪 Flexible (Tagesgeld)
🔒 Fixed-Term (Festgeld)
Winner
Consorsbank - Best Overall Tagesgeld Bonus Rate
German online bank with highest introductory Tagesgeld rate June 2026
3,40% for 5 months for new customers (Aktionszins). Standard rate lower after promotion. EUR 0 account fees. Up to EUR 1.000.000 eligible for promotional rate. Interest paid quarterly. German DGS (EdB) up to EUR 100.000. Full English banking app available. BaFin regulated. Consorsbank is a subsidiary of BNP Paribas. Source: Handelsblatt June 2026, fynfyn June 2026
No Festgeld product from Consorsbank directly. For fixed-term deposits use Raisin/Weltsparen marketplace which gives access to EU partner banks at higher fixed rates. Consorsbank also offers a free custody account (Depot) alongside the savings account
🇩🇪 Flexible (Tagesgeld)
Consorsbank offers the highest introductory Tagesgeld rate in the German market at 3,40% for 5 months as of June 2026. The EUR 1.000.000 cap makes it accessible for large savers. German DGS and BaFin regulation give full local deposit protection.
ING Germany - Best German IBAN Bonus Rate
Largest direct bank in Germany by customers - raised rate to 3,20% June 2026
3,20% for 4 months for new Extra-Konto customers as of June 2026 (raised from 3,00%). Up to EUR 250.000 eligible. Standard variable rate: 0,75% after promotion. German DGS (EdB) up to EUR 100.000. Full German and English service. Requires opening an ING current account (Girokonto) first. Monthly interest crediting. Source: Handelsblatt June 2026, wiwo.de June 2026
ING Germany does not offer a standalone Festgeld product. Fixed-term savers should use Raisin for higher fixed rates. ING is best used as the primary German current account with Tagesgeld for short-term savings alongside it
🇩🇪 Flexible (Tagesgeld)
ING raised its Tagesgeld bonus rate to 3,20% for 4 months in June 2026 - the best rate from a major German full-service bank. As Germany's largest direct bank, ING is the go-to for expats needing a full German banking relationship alongside competitive savings.
TF Bank - Best Permanent Flexible Rate for Expats
Swedish bank with strong English service and competitive rate in Germany
3,25% for 4 months introductory (new customers). Standard rate 1,45% after promotion. Interest credited monthly - compounding benefit. EUR 100.000 maximum. Swedish DGS up to approximately EUR 100.000 equivalent. Full English-language service. App available in English. Open online in minutes with passport and German address. Source: how-to-germany.com / Handelsblatt June 2026
TF Bank also offers Festgeld fixed-term deposits in Germany at competitive rates. Check TF Bank website for current fixed-term rates. Swedish DGS applies to both flexible and fixed accounts up to approximately EUR 100.000
🇩🇪 Flexible (Tagesgeld)
TF Bank is the top pick for expats in Germany who want a straightforward English-language savings account without needing to open a full German current account first. Monthly interest crediting gives a compounding advantage. 3,25% introductory rate is among the highest in Germany.
Trade Republic - Best Permanent Rate Without Time Limit
Berlin-based neobroker with 2,00% permanent Tagesgeld rate - no promotion expiry
2,00% variable - permanent rate with no expiry or new-customer restriction. Available to all customers both new and existing. Monthly interest crediting. No balance cap. Free custody account (Depot) included. Full banking licence (BaFin). German DGS up to EUR 100.000. App fully in English. Also offers stock, ETF, bond and crypto trading from same app. Source: Handelsblatt June 2026, investingintheweb.com June 2026
No Festgeld product. Trade Republic focuses on flexible Tagesgeld and investment products. Cash in the account earns 2,00% automatically without any setup required. Best for savers who also want to invest in ETFs or stocks from the same account
🇩🇪 Flexible (Tagesgeld)
Trade Republic is the best option for savers who want a reliable 2,00% permanent rate without managing promotional periods or switching banks. The combined savings and investment platform is unique in the German market. 2,00% is below the top promotional rates but requires zero active management.
Raisin (Weltsparen) - Best Fixed-Term Festgeld Marketplace
Berlin-based marketplace connecting German savers to EU partner banks
Avarda (Sweden) flexible rate via Raisin approximately 2,00-2,50%. Access to multiple EU partner banks from one Raisin account. Each partner bank covered by its home country DGS up to EUR 100.000. Open one Raisin account and split across multiple banks to multiply deposit protection coverage. German-founded company headquartered in Berlin. Source: checkalle.de / settle-in-germany.com June 2026
SWK Bank Festgeld 3,50% for 6 months via Raisin - top short-term fixed rate in Germany June 2026. Various 12-month Festgeld rates 3,00-3,20% from EU partner banks. Longer terms available up to 5+ years. Minimum deposit typically EUR 1.000-5.000 per bank. Each partner covered by home country DGS. Source: settle-in-germany.com June 2026
🔒 Fixed-Term (Festgeld)
Raisin is the clear winner for fixed-term Festgeld in Germany. Access to 100+ EU partner banks from one account, with rates up to 3,50% for 6 months or 3,00-3,20% for 12 months. The ability to spread deposits across multiple banks multiplies deposit insurance coverage beyond EUR 100.000.
Scalable Capital - Best for Combined Savings and ETF Investing
Munich-based investment platform with competitive cash interest
Approximately 2,50% on cash balances in the Scalable Capital investment account. German banking licence and German DGS (BaFin regulated). Also offers automated ETF investing plans (Robo-Advisor) and self-directed ETF and stock trading. App in English and German. Available to German residents and expats. Source: investingintheweb.com June 2026
No Festgeld product. Cash interest on uninvested balance within investment platform. Best suited to savers who also want to invest in index funds or ETFs from the same account. Competitive platform fee structure for ETF investing versus standalone brokers
🇩🇪 Flexible (Tagesgeld)
Scalable Capital is the best alternative to Trade Republic for combined savings and ETF investing. The approximately 2,50% cash rate is higher than Trade Republic's 2,00% permanent rate. Munich-based with German DGS gives full local protection. Best for investors who want a single platform for savings and investments.
N26 - Best for Existing N26 Users
Berlin neobank offering 2,00% savings rate on Metal account
2,00% per annum on savings balance for N26 Metal account holders. N26 Metal has a monthly fee. Standard N26 account offers lower savings rate. German banking licence and German DGS (BaFin) up to EUR 100.000. Full English-language service. Widely used by expats in Germany. Very fast account opening - passport and German address sufficient. Source: fynfyn.com June 2026
No Festgeld product from N26 directly. N26 is a current account and lifestyle banking platform - savings rate is a feature of the premium Metal account tier rather than a standalone savings product. For better rates use Raisin alongside N26
🇩🇪 Flexible (Tagesgeld)
N26 Metal's 2,00% savings rate matches Trade Republic but requires paying the Metal monthly fee. Best for expats who already use N26 as their main bank and want to earn interest without opening a separate savings account. For dedicated savings at higher rates, Consorsbank, TF Bank or Raisin are better choices.
Deutsche Bank / Commerzbank / Sparkasse - The German Big Three
Traditional German high-street banks - low standard rates but full service
Standard variable Tagesgeld rates typically 0,50-1,25%. Commerzbank standard Tagesgeld approximately 1,00%. Deutsche Bank lower. Sparkasse rates vary by local institution. All covered by German DGS (EdB or Sparkassen-Finanzgruppe) up to EUR 100.000. Full German service, branch network, mortgage and pension integration. Source: Finanztip June 2026
Big three banks offer Festgeld at rates broadly similar to or slightly above their Tagesgeld rates. Not competitive versus Raisin or TF Bank for fixed-term deposits. Main advantage is full-service German banking with all products in one relationship - current account, mortgage, Bausparvertrag, private pension
🔒 Fixed-Term (Festgeld)
The German big three banks pay far below market-leading rates. Standard Tagesgeld at 0,50-1,25% compares to Consorsbank at 3,40% promotional and Trade Republic at 2,00% permanent. On EUR 50.000 the gap between Commerzbank and Trade Republic is approximately EUR 375-500 per year in lost interest. Stick with big banks only for the current account and mortgage relationship.
Kapitalertragsteuer - German Tax Impact on Savings Returns
25% withholding tax on interest above Sparerpauschbetrag
Germany charges 25% Kapitalertragsteuer (capital gains tax) plus 5,5% Solidaritaetszuschlag on interest income above the Sparerpauschbetrag of EUR 1.000 per person (EUR 2.000 for couples) per year. Effective tax drag: approximately 26,375% on interest above exemption. File a Freistellungsauftrag with each bank to prevent automatic withholding up to your allowance. Split allowance across multiple banks if needed. Source: Bundeszentralamt fuer Steuern 2026
Kapitalertragsteuer applies equally to Tagesgeld and Festgeld interest. Festgeld interest may be paid at end of term, creating a potential tax timing advantage if it falls in a year when other investment income is lower. At 3,40% on EUR 30.000 the annual interest is EUR 1.020 - just above the single person Sparerpauschbetrag of EUR 1.000. Above EUR 30.000 tax begins to reduce effective returns.
🇩🇪 Flexible (Tagesgeld)
File Freistellungsauftraege with every bank where you earn interest to protect your full EUR 1.000 per person allowance. The Freistellungsauftrag must be filed per bank and the total across all banks cannot exceed EUR 1.000. Above the allowance, 26,375% tax applies to all interest. Maximise the tax-free allowance before worrying about which bank offers the highest gross rate.
ⓘ All rates are as of June 2026 and are variable unless stated as fixed. Variable rates can change at any time without notice. EU deposit guarantee covers up to EUR 100.000 per depositor per bank under Directive 2014/49/EU. German DGS is the Einlagensicherungsfonds deutscher Banken (EdB) for private commercial banks and the Sparkassen-Finanzgruppe scheme for savings banks. File a Freistellungsauftrag with each bank to protect your EUR 1.000 per person Sparerpauschbetrag. Rates retrieved from Finanztip (June 9 2026), Handelsblatt (June 2026), fynfyn (June 2026) and investingintheweb.com (May 2026). This is not financial advice - always verify current rates directly with providers before depositing.
🧠 Analysis
German Big Banks Pay 1,65-2,65 Percentage Points Below Market Leaders - That Is EUR 825-1.325 Per Year Lost on EUR 50.000
Key Evidence
- Commerzbank and Deutsche Bank standard Tagesgeld: approximately 0,75-1,00%
- Sparkasse standard rates vary but typically 0,50-1,00%
- Consorsbank promotional Tagesgeld: 3,40% for 5 months
- Trade Republic permanent rate: 2,00%
- Gap between Deutsche Bank (approximately 0,75%) and Consorsbank (3,40%): 2,65 percentage points
- On EUR 50.000 savings: Deutsche Bank earns approximately EUR 375/year. Consorsbank earns EUR 1.700/year. Gap: EUR 1.325 per year
- Source: Finanztip June 2026. Handelsblatt June 2026. wiwo.de June 2026
What This Means
Every year you keep savings in Deutsche Bank, Commerzbank or Sparkasse instead of Consorsbank, Trade Republic or TF Bank, you are leaving EUR 825-1.325 per year unclaimed on a EUR 50.000 balance. Opening a Consorsbank or Trade Republic account takes 10-15 minutes for German residents. You can keep your existing bank for payments and mortgage while moving savings to a higher-rate provider.
Source: Finanztip Tagesgeld-Vergleich June 2026. Handelsblatt Tagesgeld-Vergleich June 2026
Sparerpauschbetrag of EUR 1.000 Per Person Makes the First EUR 29.000-50.000 of Savings Effectively Tax-Free
Key Evidence
- Sparerpauschbetrag: EUR 1.000 per person (EUR 2.000 for couples) per year
- At Consorsbank 3,40%: EUR 29.412 in savings generates exactly EUR 1.000 interest - fully within the exemption
- At Trade Republic 2,00%: EUR 50.000 in savings generates exactly EUR 1.000 interest - fully within the exemption
- Above the exemption: 25% Kapitalertragsteuer plus 5,5% Soli = 26,375% effective rate
- Must file Freistellungsauftrag with each bank separately - does not apply automatically
- Source: Bundeszentralamt fuer Steuern 2026
What This Means
For most German savers with less than EUR 29.000-50.000 in savings, all interest earned is fully tax-free under the Sparerpauschbetrag. File a Freistellungsauftrag with every bank where you earn interest. If you use multiple banks (Raisin plus Trade Republic plus Consorsbank) you must split your EUR 1.000 allowance across them - the total cannot exceed EUR 1.000. Couples can each claim EUR 1.000 for a combined EUR 2.000 household allowance.
Source: Bundeszentralamt fuer Steuern - Sparerpauschbetrag 2026
✓ Understanding Check
Understanding Check
Test your understanding of savings accounts and rates in Germany in 2026.
0 / 3
What is the highest introductory Tagesgeld rate available in Germany in June 2026?
🎯 Make Your Decision
Which savings account is right for your situation in Germany?
Based on access needs, balance size and banking preferences - June 2026
Maximum promotional Tagesgeld rate
🇩🇪Consorsbank (3,40% for 5 months)
Highest introductory Tagesgeld rate in Germany June 2026. EUR 1.000.000 cap. German DGS. Free Depot included. Quarterly interest. BNP Paribas subsidiary.
Maximum Festgeld fixed-term rate
🔒Raisin via SWK Bank (3,50% for 6 months)
Top fixed-term rate via Raisin marketplace. Access to 100+ EU banks. Spread across banks for multiply deposit insurance beyond EUR 100.000.
Permanent rate - zero management required
🇩🇪Trade Republic (2,00% permanent)
2,00% with no expiry for all customers. No switching needed. Combined with free ETF and stock investing. German DGS. Monthly interest.
Expat wanting English service
🇩🇪TF Bank (3,25% introductory) or Trade Republic
TF Bank gives 3,25% for 4 months then 1,45% - monthly English-language app. Trade Republic gives 2,00% permanently in English. Both open online without visiting a branch.
Full German banking plus savings
🇩🇪ING Germany (3,20% for 4 months)
Best Tagesgeld rate from a full-service German bank. Open a Girokonto and Extra-Konto together. 3,20% for 4 months then 0,75% standard. German DGS up to EUR 100.000.
⚖️ Related Comparisons
📊 Related Intelligence
❓ Frequently Asked Questions
It depends on the provider. ING Germany requires you to open a current account (Girokonto) first before opening their Extra-Konto savings account. Consorsbank and TF Bank can be opened as standalone savings accounts without a German current account prerequisite. Trade Republic operates as a broker with banking features and can be opened with just a passport and German address - no existing German bank account needed. Raisin (Weltsparen) can also be opened standalone. If you are new to Germany and have not yet received your BSN equivalent (Steuernummer), most providers will still allow account opening with a passport and registered German address.
A Freistellungsauftrag is an exemption order that instructs your bank not to withhold Kapitalertragsteuer on interest income up to your annual Sparerpauschbetrag of EUR 1.000 (EUR 2.000 for couples). You must file a separate Freistellungsauftrag with each bank where you earn interest. The total across all banks cannot exceed your annual allowance of EUR 1.000. If you have savings at multiple banks (for example Trade Republic, Consorsbank and Raisin), you should split the EUR 1.000 allowance between them - for example EUR 500 at each of two banks. If you do not file a Freistellungsauftrag, the bank will automatically withhold 25% Kapitalertragsteuer plus Soli on all interest, even if your total interest is below EUR 1.000. You can reclaim over-withheld tax via your annual Einkommensteuererklaerung.
When you use the Raisin platform, each deposit you place with a partner bank is separately covered by that partner bank's national deposit guarantee scheme up to EUR 100.000 per depositor per bank. Because Raisin gives you access to 100+ EU partner banks, you can effectively stack EUR 100.000 of deposit insurance per bank. For example, placing EUR 100.000 with SWK Bank (German DGS) and EUR 100.000 with an Estonian partner bank (Estonian DGS) would give you EUR 200.000 of total coverage from one Raisin account. This is a significant advantage over placing all savings with a single bank. All EU deposit guarantee schemes are equivalent in coverage amount (EUR 100.000) and operate under EU Directive 2014/49/EU, though enforcement jurisdiction differs by country.
✓ Key Takeaways
Key Takeaways
✓
Best Tagesgeld June 2026: Consorsbank 3,40% for 5 months. ING 3,20% for 4 months. TF Bank 3,25% for 4 months.
✓
Best permanent rate: Trade Republic 2,00% with no expiry - available to all customers. No balance cap.
✓
Best Festgeld: Raisin marketplace - SWK Bank 3,50% for 6 months. 12-month rates 3,00-3,20% from EU partner banks.
✓
Deutsche Bank, Commerzbank, Sparkasse standard rates: 0,50-1,00% - far below challengers. Use for current account only.
✓
Sparerpauschbetrag: EUR 1.000 per person tax-free per year. File Freistellungsauftrag with every bank where you earn interest.
✓
25% Kapitalertragsteuer plus Soli (26,375% effective) applies to interest above EUR 1.000 per person.
✓
Raisin (Weltsparen) allows spreading deposits across multiple EU banks - multiplying deposit insurance beyond EUR 100.000.
✓
ECB deposit rate is 2,00% in June 2026 - down from 4,00% peak. Tagesgeld rates have been falling and may continue to fall.
✓
TF Bank and Trade Republic are the top choices for expats in Germany wanting English-language service.
✓
All EU-licenced banks in this comparison are covered by EUR 100.000 deposit guarantee - country of guarantee differs but coverage is equivalent.
Sources & References
›
Finanztip - Tagesgeld-Vergleich June 9 2026 - Advanzia 3,45%, Consorsbank 3,40%
Retrieved 2026-06-10
›
Handelsblatt - Tagesgeld-Vergleich June 2026 - Consorsbank, Trade Republic, ING, TF Bank
Retrieved 2026-06-10
›
fynfyn - Tagesgeld Vergleich June 2026 - Consorsbank, Santander, Ikano Bank rates
Retrieved 2026-06-10
Comparison for informational purposes only. Results depend on individual circumstances. Last updated Jun 2026.
Disclaimer
Savings rates change frequently. All rates are as of June 2026 and may have changed by the time you read this. Always verify current rates directly with providers. Deposit guarantee coverage is EUR 100.000 per depositor per bank. Kapitalertragsteuer of 25% plus Soli applies to interest above the Sparerpauschbetrag of EUR 1.000 per person. File a Freistellungsauftrag with each bank. This is not financial advice. Consult a Steuerberater for personalised German tax guidance.
Savings rates change frequently. All rates are as of June 2026 and may have changed by the time you read this. Always verify current rates directly with providers. Deposit guarantee coverage is EUR 100.000 per depositor per bank. Kapitalertragsteuer of 25% plus Soli applies to interest above the Sparerpauschbetrag of EUR 1.000 per person. File a Freistellungsauftrag with each bank. This is not financial advice. Consult a Steuerberater for personalised German tax guidance.