Get interest on your money

If you’re a new N26 customer who’s eligible for N26 Instant Savings, you might need to wait for your tax ID to be verified. The verification process usually takes 24 hours, but it can take up to 5 business days. If you’re an existing customer, please note that we're gradually introducing N26 Instant Savings to eligible customers, so make sure you have the latest version of the app installed and check again in a couple of weeks. To be eligible to create a savings account, customers need to have a personal N26 bank account, German IBAN, German T&Cs, a legal residence in Germany, and a verified German Tax ID.

We're gradually introducing Instant Savings over the next few weeks to eligible customers who have a personal N26 bank account, German IBAN, German T&Cs, a legal residence in Germany, and a verified German Tax ID. During this time, some customers might see Instant Savings as ‘coming soon’ in their N26 app. Please make sure you have the latest version of the app installed. If you don't see Instant Savings as ‘coming soon’ in your Finances tab, you might not meet some of the eligibility criteria.

To create a savings account, customers need to have a personal N26 bank account, German IBAN, German T&Cs, a verified German tax ID, and a legal residence in Germany. New customers might have to wait up to 5 business days for their Tax ID to be verified. Other eligibility criteria may also apply.

We offer a 2.6% annual interest rate for 12 months for eligible new customers who open a German N26 account and an Instant Savings account for the first time between November 14, 2023, and January 31, 2024.

For existing customers who opened their personal N26 account before November 14, 2023, the interest rate varies according to their membership: 2.6% p.a. for N26 Metal, 2.26% p.a. for N26 You and N26 Smart, and 1.26% p.a. for N26 Standard accounts. Please note that regular rates per membership are subject to change over time.

No, N26 Instant Savings is available to all eligible customers — new and existing. The interest rate may differ for new and existing customers.

As an existing customer, the interest rates vary based on your membership: 2.6% p.a. for N26 Metal, 2.26% p.a. for N26 You and Smart, and 1.26% p.a. for N26 Standard accounts. Please note that regular interest rates per membership are subject to change over time.

The interest you earn is automatically calculated and paid out to your Instant Savings account on the first day of the following month. You’ll see separate transactions: the deposit of the gross interest into your account and the deduction of the taxes that are withheld from the interest you earned.

Your interest is calculated daily based on your account balance and your Instant Savings interest rate. For instance, if your interest rate is 2.6% p.a. and you maintain a daily balance of €15,000 in your Instant Savings account for 12 months, you’ll earn a total gross interest of €390 before taxes. Similarly, if there are 30 days in a month and your Instant Savings account balance remains at €15,000 for the whole month, you’ll earn a total gross interest of €32.05 (€15,000 x 2.6% x 30/365) for that month.

Whether you have a free N26 account or a premium one, you can find Instant Savings in the Finances tab of your N26 app. If you’re an eligible N26 customer but can’t see the Instant Savings option, please make sure that you have the latest version of the app.

You may deposit as much money as you like into your savings account: you’ll earn interest on the total balance of your Instant Savings account. The sky’s the limit.

N26 Instant Savings is a fully flexible, easy-access savings account, so there are no penalties for withdrawing part — or all — of your funds before the end of the month. You won’t lose any interest that was already paid out or the interest you’ve accrued over the previous days of the current month.

Yes, the interest you earn in your N26 Instant Savings account is taxable by the German government. But no stress — we’ll automatically withhold and transfer this tax percentage to the authorities on your behalf every month, when you receive your earned interest. If you've received interest during the calendar year, the annual tax certificate will be sent to you in the first quarter of the following year via the app.

In Germany, 'withholding tax' (Abgeltungssteuer) is the tax deducted from the money you make from financial investments. This includes the interest you earn on your savings. This tax is automatically calculated, withheld and transferred by N26 to the authorities on your behalf every month, when you receive your earned interest.

The current withholding tax rate in Germany is 25% and, if applicable, a 5.5% solidarity surcharge and a church tax of 8% or 9%. These percentages may change according to new tax laws or personal circumstances.

At the moment, only customers with a personal N26 bank account are eligible to open an Instant Savings account.

Yes. With N26 Instant Savings, there are no deposit limits and no penalties for withdrawals — you're free to save at your own pace.

It’s a savings account without a strict commitment and without a fixed length of deposit. That means you can deposit and withdraw money at any time, without reducing your interest rate or paying penalty fees for early withdrawals.

At N26, each customer can have one Instant Savings account. There's no limit to the number of savings accounts you can have with different banks.

Your main account is the one you use for everyday transactions and payments, but the money in it doesn't earn interest. A savings account allows you to earn interest on the money you deposit in it, but can't be used for everyday payments or be linked to a card.

With a flexible savings account, you can deposit and withdraw money at any time, without reducing your interest rate or paying penalty fees for an early withdrawal. With a fixed-term savings account, you have to lock your money away for a certain period of time — usually, at least one year. If you decide to withdraw money from a fixed-term savings account during this period, you won’t get the earned interest and may have to pay a fee, depending on the T&Cs.

No, you'll need to move money from your N26 Instant Savings account to your main account first.