New customers need to wait for their tax ID to be verified. The verification process can take up to five business days, but it usually takes only 24 hours. Make sure you meet the N26 Instant Savings eligibility requirements — check our FAQs for more information.
What is N26 Instant Savings?
N26 Instant Savings is an easy-access savings account that’s available at no extra cost in the N26 app.
Earn interest on all your savings with no deposit limits** and instantly withdraw anytime. Win-win.
How much interest can I earn with N26?
Already an N26 customer? Your N26 Instant Savings interest rate is based on your membership: 2.6% p.a. for Metal, 2.26% p.a. for You and Smart, and 1.26% p.a. for Standard accounts. Please note that regular interest rates per membership are subject to change over time.
Saving just got more rewarding
Grow your money
Earn up to 2.6% interest p.a. — calculated daily and paid out monthly to grow your balance automatically.
100% flexibility
No need to lock your money away. Deposit and withdraw any amount in seconds, anytime.
No extra fees
Open your N26 Instant Savings account with just a few taps in the N26 app — at no extra cost.
No deposit limits**
Add as much money as you like and earn interest on your total savings balance. The sky’s the limit**.
Interest Calculator
N26 Instant Savings
Use our interest calculator to understand how your money can grow over time with N26.
Enter your starting balance and a time period:
Comparison Tool
Other savings account options
Now try it with the same deposit amount and a different interest rate offer — considering how long that offer is valid for.
Enter the starting balance, time period, and interest rate:
To choose the best savings option, consider the conditions of promotional rates — including how long they're valid for. The calculations above show gross amounts before withholding taxes and assume that the daily balance in the savings account remains the same during the whole period. If you keep the paid interest in your N26 Instant Savings account, the total gross interest earned during the whole period will be higher. This is because you'll be earning interest on the interest you've already earned in the previous months.
Start earning interest
Opening your N26 Instant Savings account is easy. Not a customer yet? Sign up to N26 right from your phone.
Once you have your N26 account set up, get your tax ID verified. Then, simply head to the ‘Finances’ tab in the N26 app and tap on ‘Instant Savings’ to create your savings account.
*We offer a 2.6% annual interest rate for eligible new customers who open a German personal N26 account and N26 Instant Savings account for the first time between November 14, 2023, and January 31, 2024. After the expiration of the 12 months promotional period, and generally for all existing customers that signed up before November 14, 2023, the interest rates will vary based on your membership: 2.6% p.a. for Metal, 2.26% p.a. for You and Smart, and 1.26% p.a. for Standard accounts. Please note that regular rates per membership are subject to change over time.
**The money in your bank accounts — including N26 Instant Savings — is protected up to €100,000 by the German Deposit Guarantee Scheme.
Your money is protected
N26 is a fully-licensed German bank. That means the money in your bank accounts — including N26 Instant Savings — is protected up to €100,000 by the German Deposit Guarantee Scheme.
See how N26 is simply secureAutomate? Great!
Growing your money is easier when you automate your savings. With N26 Rules and Goals (available for all customers) or N26 Income Sorter and Round-ups (only available for N26 Smart, You and Metal customers) you can reach your goals faster by automatically moving money between your main account and your savings account. It’s a great ‘hands-off’ way to kickstart your savings.
Automate your savings
My N26 app says Instant Savings is ‘coming soon’. When will it be available?
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.
Why can’t I find Instant Savings in my N26 app?
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.
Who's eligible for N26 Instant Savings?
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.
Is the promotional 2.6% interest rate only for new customers?
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.
Can only new customers open an N26 Instant Savings account?
No, N26 Instant Savings is available to all eligible customers — new and existing. The interest rate may differ for new and existing customers.
I already have an N26 account. What’s the interest rate for my Instant Savings?
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.
When and how is my interest paid?
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.
How is my interest calculated?
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.
Where can I find N26 Instant Savings in the app?
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.
Is there a limit on the amount of money I can deposit to my N26 Instant Savings?
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.
What happens if I make a withdrawal before the end of the month?
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.
Do I need to pay taxes on my earned interest?
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.
How is the withholding tax calculated for my N26 Savings account?
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.
Can N26 Business customers open an Instant Savings account?
At the moment, only customers with a personal N26 bank account are eligible to open an Instant Savings account.
Can I add deposits to my savings account every month?
Yes. With N26 Instant Savings, there are no deposit limits and no penalties for withdrawals — you're free to save at your own pace.
What is an easy-access savings account?
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.
How many savings accounts can I have?
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.
What is the difference between my savings account and my main account?
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.
What is the difference between a flexible savings account and a long-term or fixed-term savings account?
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.
Can I transfer money directly from my Instant Savings account?
No, you'll need to move money from your N26 Instant Savings account to your main account first.