Best Savings Accounts for International Students in Germany
Best Savings Accounts for International Students in Germany
A savings account can help international students in Germany build an emergency fund, reserve money for rent, or keep tuition and living expenses separate from daily spending.
German banks commonly offer two types of savings products:
- Tagesgeldkonto: An instant-access savings account with a variable interest rate.
- Festgeldkonto: A fixed-term deposit that normally offers a higher rate but locks the money away for an agreed period.
This guide compares the best savings accounts for international students in Germany in 2026, including current interest rates, withdrawal conditions, eligibility requirements, taxes, and deposit protection.
Last updated: August 2, 2026. Savings rates are variable unless otherwise stated and may change after publication.
Best Savings Accounts in Germany: Quick Picks
The strongest options currently include:
- Revolut Instant Access Savings: Best overall flexible savings account
- Commerzbank Topzinskonto Plus: Best promotional rate from a traditional bank
- DKB Tagesgeld: Best straightforward long-term instant-access account
- N26 Instant Savings: Best for existing N26 customers
- Deutsche Bank FestzinsSparen: Best fixed-term option
Best Savings Accounts for International Students in Germany
1. Revolut Instant Access Savings
Revolut Instant Access Savings is one of the most attractive options for students who want a competitive rate and daily access to their money.
As of June 11, 2026, newly opened eligible savings accounts receive a variable rate of 2.25% per year, matching the applicable European Central Bank deposit rate under the current offer. Interest is calculated and paid daily.
The account provides:
- No minimum deposit
- No account-holding fee
- Instant withdrawals
- Daily interest payments
- Account management through the Revolut app
- A maximum combined savings balance of €5 million under the current terms
Money can only be deposited into or withdrawn from the savings account through the customer’s Revolut current account. The rate is variable and Revolut may adjust it when interest-rate or economic conditions change.
Eligibility
Students generally need:
- An eligible Revolut personal account
- Legal residence in Germany
- Valid identity and tax information
- Access to the latest version of the Revolut app
German taxes are deducted from the interest unless the customer submits an accepted exemption order or non-assessment certificate.
Best for: Students who want flexible withdrawals, daily interest, and fully digital account management.
2. Commerzbank Topzinskonto Plus
The Commerzbank Topzinskonto Plus currently offers a variable promotional rate of 2.25% per year on qualifying new money.
The promotional rate applies:
- For up to 12 months after opening
- To qualifying balances of up to €1 million
- To money that was not held with Commerzbank or comdirect during the previous six months
The standard rate for existing or non-qualifying money is currently 0.75% per year. Interest is credited quarterly, and the account does not have a maintenance fee.
Students can access their savings at any time without a notice period. Withdrawals are normally sent to a nominated reference current account, which can be held with another SEPA bank.
How to open the account
New customers can apply online using a valid passport or identity card. Existing customers can normally open the account through Commerzbank online banking.
The promotional rate is variable rather than guaranteed for the entire 12 months, so Commerzbank can adjust it after notifying customers.
Best for: Students who have new savings and want a traditional German bank with a competitive promotional rate.
3. DKB Tagesgeld
DKB Tagesgeld is a straightforward instant-access account for students who prefer a consistent rate without special new-customer or new-money conditions.
The account currently pays 1.00% per year, regardless of whether the customer is new or existing and without a maximum interest-bearing balance. The rate shown by DKB was current on July 21, 2026.
Main features include:
- No account-maintenance fee
- No fixed term
- No minimum or maximum deposit
- Flexible deposits and withdrawals
- Quarterly interest payments
- No notice period
New customers must first open a DKB current account, which acts as the reference account. Identity verification can be completed online through VideoIdent.
The requirement to open a DKB current account makes the product less convenient for students who already use another German bank.
Best for: Students who want a simple instant-access account and are willing to use DKB for everyday banking.
4. N26 Instant Savings
N26 Instant Savings is convenient for international students who already use an N26 account.
The account is available at no additional charge and allows customers to deposit and withdraw money without penalties. Interest is calculated daily and paid monthly.
Current rates depend on the N26 plan:
- N26 Standard and Smart: 0.25% per year
- N26 Go: 0.55% per year
- N26 Metal: 1.50% per year
Some Metal customers who opened their account during an earlier qualifying promotional period receive 2.25%, but new Metal accounts currently receive the standard 1.50% rate.
Eligibility requirements
Students need:
- An eligible N26 personal account
- A German N26 IBAN beginning with DE
- A valid German residential address
- A valid tax identification number
- The latest version of the N26 app
There is no minimum deposit, fixed term, or withdrawal penalty.
The free Standard plan is convenient but currently offers a significantly lower rate than Revolut or Commerzbank. Paying for N26 Metal solely to obtain a higher savings rate may not be worthwhile for students with small balances.
Best for: Existing N26 customers who value convenience more than the highest available interest rate.
5. Deutsche Bank FestzinsSparen
Deutsche Bank FestzinsSparen is different from the other accounts because it requires customers to lock their money away for a fixed period.
The current promotional offer pays 2.70% per year for 12 months on qualifying new deposits between €2,500 and €250,000. The money must not have previously been held with Deutsche Bank Group institutions covered by the offer’s conditions.
This account may offer a higher return than many instant-access products, but students should not use it for:
- Emergency savings
- Upcoming rent payments
- Tuition due during the fixed term
- Money they may need unexpectedly
Students should keep an accessible emergency fund before placing additional money into a fixed-term deposit.
Best for: Students with at least €2,500 that they are certain they will not need for 12 months.
Documents International Students May Need
Requirements vary, but students should prepare:
- Valid passport or national identity card
- German visa or residence permit
- German residential address
- Anmeldung or registration certificate
- German tax identification number
- Foreign tax identification number
- Existing German or SEPA current account
- Evidence showing the source of the savings
The bank may request university enrolment confirmation, scholarship documents, payslips, or foreign bank statements when additional verification is required.
How Is Savings Interest Taxed in Germany?
Savings interest is generally taxable in Germany.
Individuals currently receive a Sparer-Pauschbetrag, or saver’s allowance, of €1,000 per year. Married couples or registered partners assessed jointly receive a combined allowance of €2,000.
To prevent a German bank from withholding tax on interest within your unused allowance, you can submit a Freistellungsauftrag, or exemption order.
International students should consider:
- Whether they are German tax residents
- Whether interest is paid by a German or foreign institution
- Whether they have savings at several banks
- How much of their annual allowance has already been allocated
Students with accounts at foreign or European providers may have additional tax-reporting responsibilities.
Is Your Money Protected?
Germany’s statutory deposit-guarantee scheme generally protects eligible deposits of up to €100,000 per customer, per bank. This protection covers qualifying current accounts, instant-access accounts, savings accounts, and fixed-term deposits.
When using a European digital bank, check which country’s guarantee scheme applies. The €100,000 limit normally applies to the combined eligible deposits held with the same banking institution rather than separately to each account.
Which Savings Account Is Best?
Revolut Instant Access Savings is the best overall option for eligible students because it currently combines a 2.25% variable rate with daily interest and unrestricted access.
Commerzbank Topzinskonto Plus is the strongest traditional-bank option, particularly for students transferring new money. Remember that the promotional rate is variable and lasts for no more than 12 months.
DKB Tagesgeld offers a simpler long-term structure, while N26 Instant Savings is most useful for students who already use N26 and prioritise convenience.
Students who can safely lock away at least €2,500 may consider Deutsche Bank FestzinsSparen, but emergency funds should remain in an instant-access account.
