Best Savings Account Rates 2026
Where can you currently earn the highest interest on instantly accessible cash? We compare the cash rates of the major brokers and neobanks across Germany and Austria, explain the tax (German Abgeltungsteuer vs. Austrian KESt), and show what to look for when it comes to deposit protection.
Easy-Access Savings 2026: What’s it about?
An easy-access (“Tagesgeld”) account is cash you can withdraw any day, earning a variable rate — no fixed term, accessible at all times. Banks have always offered it; today, brokers and neobanks also pay interest on uninvested cash sitting in your clearing account. For many investors that’s the most convenient route: the interest accrues in the same account you use to buy stocks and ETFs.
The overview below shows the cash interest rates of the leading providers in the German-speaking region (DACH) as of June 2026. Important: these rates are variable — they track the ECB key rate and are adjusted by the providers. Always check the provider’s current rate page before opening an account.
Cash & Savings Rates Compared
The biggest differences lie not only in the size of the rate, but in the conditions: some providers pay their headline rate only with a paid subscription, only up to a certain balance, or only on US-dollar holdings. Read the “Condition” column just as carefully as the percentage.
Cash rates at major providers (as of June 2026)
| Provider | Rate p.a. | Condition | Domicile / deposit protection |
|---|---|---|---|
| eToro | up to 4.55% | via eToro Money, separate account | EU-regulated (CySEC and others) |
| Interactive Brokers | up to 4.33% | on USD balances over $10,000, tiered | US broker, SIPC + EU subsidiary |
| Trade Republic | 3.25% | entire balance, no cap, no subscription | DE — up to €100,000 statutory |
| Scalable Capital | 2.60% | only with PRIME+ subscription (€9.99/mo), up to €100,000 | DE — up to €100,000 statutory |
| Traditional direct banks | ~2.0–2.5% | often a new-customer promo only, lower afterwards | DE/AT — up to €100,000 statutory |
Cash rates are not a fixed-term guarantee. If the ECB key rate falls, providers cut their rate — usually within a few days and without prior notice. Lock-in promotions for new customers expire after 3–6 months. If you want to secure a rate for the long run, look at fixed-term deposits or money-market ETFs (see below).
How to get the rate — step by step
A rate of “up to 4.55%” is of little use if it only applies to USD balances or requires a subscription. For instantly accessible euro cash with no conditions, Trade Republic at 3.25% is currently the simplest option in the DACH region.
Opening is fully digital and takes 10–15 minutes. You’ll need an ID document and a reference account. With brokers, the cash account is automatically part of your securities account.
By SEPA transfer or instant deposit. Interest starts accruing from the day the funds are credited and is usually paid out monthly or quarterly.
In Germany you can set up an exemption order (Freistellungsauftrag) of up to €1,000 (singles) or €2,000 (married couples) right in the app. Interest stays tax-free up to that limit.
🇩🇪 Tax in Germany: flat tax on interest
This section applies to German tax residents; if you live elsewhere, check your local rules. Interest counts as income from capital assets and is subject to the flat withholding tax (Abgeltungsteuer) of 25% — plus the solidarity surcharge (5.5% of the tax) and, where applicable, church tax. In practice that works out to roughly 26.4–27.99%.
- Saver’s allowance: €1,000 per person (€2,000 for jointly assessed couples) stays tax-free — set up directly with the provider via an exemption order.
- Domestic providers (e.g. Trade Republic, Scalable) remit the tax to the tax office automatically. You don’t have to declare anything on your tax return.
- Foreign providers (e.g. eToro, IBKR without German tax withholding) do NOT remit the tax automatically — you must declare the interest yourself on the Anlage KAP form.
- If you hold several accounts, split your exemption order sensibly so the allowance doesn’t go unused.
🇦🇹 Tax in Austria: KESt on interest
This section applies to Austrian tax residents; if you live elsewhere, check your local rules. In Austria, interest on bank deposits is subject to capital gains tax (KESt) of 25% (for bank deposits — not to be confused with the 27.5% on securities income). At domestic banks the KESt is withheld and remitted automatically — you don’t have to declare anything.
- Domestic banks: KESt automatic, tax-simple — no FinanzOnline filing needed.
- Foreign providers (e.g. Trade Republic Austria, eToro, IBKR): interest generally has to be declared yourself via the employee tax assessment / income tax return (KESt equivalent of 25%).
- There is no saver’s allowance in Austria as there is in Germany — interest is taxable from the very first euro.
Easy-access vs. fixed-term deposits vs. money-market ETFs
An easy-access account isn’t the only option for parking money safely. The alternatives differ above all in availability and rate certainty:
| Criterion | Easy-access | Fixed-term deposit | Money-market ETF |
|---|---|---|---|
| Availability | any day | fixed (3–60 mo.) | any trading day |
| Rate certainty | variable | fixed, guaranteed | variable (€STR) |
| Deposit protection | up to €100,000 | up to €100,000 | segregated fund assets |
| Tax DE | flat withholding tax | flat withholding tax | flat tax + Vorabpauschale |
| Ideal for | emergency fund, flexible | fixed sum, fixed period | large cash reserve in the account |
FAQ — Savings & Cash Rates 2026
Which provider currently has the highest savings rates?
As of June 2026, eToro pays up to 4.55% via eToro Money and Interactive Brokers up to 4.33% on USD balances — but both come with conditions. For unconditional euro cash with no subscription and no cap, Trade Republic at 3.25% is the simplest front-runner in the DACH region. All rates are variable.
Are the rates guaranteed?
No. Easy-access and cash rates are variable and follow the ECB key rate. Providers can adjust the rate at any time — usually without prior notice. If you want a fixed rate over a set period, you need a fixed-term deposit.
How safe is my money?
At banks regulated in the EU, the statutory deposit protection scheme covers up to €100,000 per customer and bank. Pay attention to which country the provider holds its banking licence in — with some brokers the cash sits at a partner bank. With money-market ETFs, the protection of segregated fund assets applies instead.
Do I have to declare savings interest on my tax return?
In Germany, domestic providers remit the flat withholding tax automatically — then you don’t need to declare anything. With foreign providers, you report the interest on the Anlage KAP form. In Austria, domestic banks withhold the KESt automatically; with foreign providers you have to assess the interest yourself.
Is an easy-access account still worth it when rates are low?
As a place to park your emergency fund and money you need in the short term, yes — it’s safe and accessible any day. For long-term wealth building, a broadly diversified ETF savings plan beats a savings account significantly over the years, but it carries market risk.
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