Best Savings Accounts for International Students in Denmark
The best savings accounts for international students in Denmark offer competitive interest, low fees and withdrawal conditions that match the student’s financial needs.
Students often keep their savings in the same account used for rent and everyday purchases. This is convenient, but ordinary current accounts may pay little or no interest. After obtaining a Danish address and MitID, students can often open a separate savings account with their main bank or a digital savings provider.
The interest rates below were checked on July 30, 2026. Savings rates are variable unless the account specifically offers a fixed rate.
Best Savings Accounts for International Students in Denmark
1. Facit Bank Plusrente Fri Variabel: Best Flexible Savings Rate
Facit Bank’s Plusrente Fri Variabel is one of the strongest flexible options for students who have completed Danish registration.
The account currently offers:
- 1.35% variable annual interest
- No fixed commitment period
- No transfer or withdrawal fees
- Interest on the complete eligible balance
- Maximum total deposit of DKK 745,000
Students who expect to hold more money can consider Plusrente Max Variabel. It currently pays 1.50% on balances below DKK 500,000 and 2.00% when the relevant balance reaches at least DKK 500,000, under the bank’s published conditions.
Facit Bank operates entirely online. Applicants must be adults, live in Denmark and have MitID. The bank may also request photo identification, tax-residence information and evidence showing where the deposited money comes from.
Facit is a savings provider rather than a complete replacement for an everyday bank. Students still need another Danish account for cards, salary deposits, bills and ordinary payments.
Best for: Students with MitID who want competitive interest without locking away their emergency savings.
2. Nordea Fastrentekonto: Best for Small Fixed-Term Deposits
Nordea’s fixed-rate savings account is accessible to students who do not have a very large amount to deposit.
The minimum deposit is only DKK 1,000, while the available fixed terms range from three to 12 months.
Rates published on July 27, 2026 include:
- 3 months: 1.61%
- 6 months: 1.77%
- 9 months: 1.89%
- 12 months: 2.00%
The interest rate remains fixed during the selected term. Withdrawing money before the agreement ends can result in a deduction calculated according to market rates and the remaining period, with a minimum charge of DKK 250.
Nordea also provides a flexible savings account paying 0.25% on balances up to DKK 100,000. It has no minimum deposit or fixed term, but no interest is currently paid on the portion exceeding DKK 100,000.
Best for: Students who already bank with Nordea and can leave at least DKK 1,000 untouched for several months.
3. Santander Savings Accounts: Best Range of Fixed and Flexible Options
Santander Consumer Bank offers several savings products in Denmark.
Current options include:
- Opsparing Fri: 1.30% variable interest with flexible access
- Opsparing 6: 1.80% fixed interest for six months
- Longer-term savings: Rates of up to 2.20%, depending on the selected product and conditions
Santander’s six-month account permits early access subject to a financial deduction. Its flexible account is more suitable for an emergency fund because money is not committed to a fixed period.
Students should confirm the minimum deposit, early-withdrawal calculation and identification requirements before applying. Promotional rates can also have application deadlines and may change quickly.
Best for: Students who want to choose between flexible savings and a higher fixed rate.
4. Kompasbank Fixed Savings: Best for Balances Above DKK 100,000
Kompasbank offers competitive fixed-term accounts, but its minimum deposit makes them unsuitable for many students.
Current fixed rates include:
- 6 months: 1.65%
- 12 months: 1.85%
- 18 months: 1.95%
- 24 months: 1.55%
- 36 months: 1.40%
Each fixed account requires a minimum deposit of DKK 100,000. Kompasbank also offers a variable account paying 1.50%, with withdrawals available after 31 days’ notice.
Account opening is digital and requires MitID. Customers first receive a free BASIS account, which is used to transfer money into the selected savings product. Ending a fixed agreement early can result in a charge.
Best for: Students holding substantial tuition reserves or savings that will not be needed during the fixed term.
5. Danske Indlån: Best for Existing Danske Bank Students
Danske Indlån is a simple savings account for customers aged 18 or older.
It offers:
- No minimum balance
- No fixed commitment period
- Unlimited deposits
- One free withdrawal or transfer each month
- DKK 40 charge for every additional monthly withdrawal
The interest rate depends on the account balance and whether the customer has registered a NemKonto with Danske Bank. Interest is added annually on December 31.
Danske Bank also provides Toprente fixed savings accounts with terms of six, 12 or 24 months. These accounts require at least DKK 40,000, making them less accessible than Nordea’s DKK 1,000 fixed-rate minimum.
Best for: Students already using Danske Bank who value convenience more than achieving the highest available savings rate.
Do International Students Need CPR and MitID?
Most online savings providers require:
- Danish residential address
- CPR number
- MitID
- Valid passport or identity document
- Danish payment account
- Foreign tax identification number, when applicable
- Evidence of the source of larger deposits
Facit Bank specifically requires applicants to live in Denmark and use MitID. It also collects information about foreign tax residence, TIN numbers and the origin of deposited money.
Newly arrived students should usually open an everyday current account first. After CPR and MitID are active, they can apply for a higher-interest savings account.
Flexible vs. Fixed Savings Accounts
Choose Flexible Savings When:
- The money is your emergency fund.
- You may need it for rent or tuition.
- You expect irregular withdrawals.
- You are uncertain how long you will remain in Denmark.
Choose Fixed-Term Savings When:
- You know the money will not be needed.
- The fixed rate is meaningfully higher.
- You understand the early-withdrawal deduction.
- You have already set aside an accessible emergency fund.
Do not lock away money needed for residence-permit requirements, university fees or daily living costs.
Are Savings Protected in Denmark?
Eligible bank deposits in Denmark are generally protected up to the equivalent of €100,000 per depositor, per financial institution.
The protection applies to the combined eligible deposits held at the same bank, not separately to every account. A person holding money at two different covered institutions can receive a separate protection limit at each institution.
What Should Students Compare?
Before opening a savings account, check:
- Annual interest rate
- Fixed or variable interest
- Minimum deposit
- Withdrawal restrictions
- Early-termination charges
- MitID and residency requirements
- Whether another Danish account is required
- Deposit-guarantee coverage
- Tax-residency documentation
- Whether interest is paid monthly or annually
A higher rate is not automatically better when withdrawing your money creates a substantial penalty.
Final Verdict
Facit Bank Plusrente Fri Variabel is the best flexible savings option for students who live in Denmark and already have MitID. It currently offers 1.35% interest without a commitment period or withdrawal fees.
Nordea Fastrentekonto is the strongest option for students with smaller fixed-term savings because its minimum deposit is only DKK 1,000 and the 12-month rate currently reaches 2.00%.
Santander offers a useful choice between flexible and fixed savings, while Kompasbank is better suited to students with at least DKK 100,000. Danske Indlån is convenient for existing Danske Bank customers but should be compared carefully with higher-interest alternatives.
Official Sources
- Facit Bank: Current Savings Rates
- Nordea: Flexible Savings Account
- Nordea: Fixed-Rate Savings
- Santander Consumer Bank: Savings Accounts
- Kompasbank: Personal Savings Accounts
- Danske Bank: Danske Indlån Savings Account
- Finansiel Stabilitet: Danish Deposit Protection
