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> Updated May 19 2026. Compare every Austrian Tagesgeld account by rate, promo period, and your real net year-one return after KESt. Top promo rates up to 2.50% p.a., permanent rates up to 2.50% from Scalable. EUR 100,000 deposit insurance.

Updated: May 19 2026 · By Jules de Bruin · URL: https://www.how-to-austria.com/banking/savings-accounts

Updated May 19 2026. **Scalable Capital pays 2.50% p.a. permanently** on unlimited balance, the highest no-promo rate available to Austrian residents. **DADAT Sparkonto and Santander BestFlex offer 2.40% p.a. for 3 months**, then drop to roughly 1.25% to 1.50%. **DenizBank promo 2.30% p.a.** sits on an Austrian licence. Every account is **protected up to EUR 100,000** by EU deposit insurance, with a flat **25% KESt withholding tax** on interest. On EUR 10,000 the highest net year-one return is around **EUR 188 after tax**.

## How Austrian savings tax (KESt) works

Austria taxes interest income at a flat **25% Kapitalertragsteuer (KESt)**. There is **no saver's allowance** like the German Sparerpauschbetrag, so every euro of interest is taxed. The after-tax return is what lands in your account and is the number every tile above shows in the green "Net year 1" box.

- **Steuereinfach** accounts: the bank withholds and remits KESt for you. No tax return entry needed. Most Austrian banks and some EU banks (DenizBank, DADAT, Anadi, bank99) are in this category.
- **Self-declare** accounts: foreign banks (Trade Republic, Scalable Capital, Renault Bank) usually pay gross interest. You declare it in your annual Einkommensteuererklärung and pay the 25% via FinanzOnline.
- **Worked example:** EUR 10,000 at 2.50% p.a. earns EUR 250 gross. After 25% KESt (EUR 62.50), you keep **EUR 187.50 net**.

## Tagesgeld vs Festgeld vs Sparbuch

| Feature | Tagesgeld | Festgeld | Sparbuch |
| --- | --- | --- | --- |
| Access | Daily | After fixed term (3-60 mo) | Daily or 3-mo notice |
| Rate type | Variable | Fixed for term | Variable |
| Typical 2026 rate | 1.50 to 2.50% p.a. | 2.00 to 3.00% p.a. | 0.01 to 0.50% p.a. |
| KESt | 25% | 25% | 25% |
| Best for | Emergency fund | 6+ month savings | Conservative legacy savers |

## Frequently asked questions

### Which Austrian bank pays the best savings interest in 2026?

As of April 2026, Scalable Capital and Trade Republic offer the highest permanent rates (2.50% and 2.00% p.a. respectively) on unlimited balance, available to Austrian residents. For promotional rates, DenizBank Austria leads at 2.30% p.a. for 3 months and DADAT Sparkonto at 2.40% p.a. for 3 months. After the promo period, post-promo rates fall sharply (often to 0.50 to 1.50% p.a.), so always factor in the blended year-one rate, not just the headline.

### How is Tagesgeld interest taxed in Austria?

Austrian residents pay a flat 25% Kapitalertragsteuer (KESt) on all interest income. Most domestic banks (DADAT, DenizBank, Anadi, bank99) and some EU banks withhold KESt automatically (steuereinfach). For foreign banks (Trade Republic, Scalable Capital, Renault Bank), you must self-declare interest in your annual tax return. There is no Sparerpauschbetrag (saver's allowance) in Austria, unlike Germany.

### Is my money safe in an Austrian Tagesgeld account?

Yes. Every EU bank operating in Austria is covered by deposit insurance up to EUR 100,000 per person per bank licence. In Austria, the scheme is run by Einlagensicherung Austria (ESA). For deposits above EUR 100,000, split across multiple banks. Insurance pays out within 7 working days of a bank failure under EU directive 2014/49/EU.

### What is the difference between Tagesgeld, Festgeld, and Sparbuch?

Tagesgeld is a flexible savings account with daily access and a variable rate. Festgeld is a fixed-term deposit (3 to 60 months) with a fixed rate, usually 0.5 to 1.0 percentage points higher than Tagesgeld. A Sparbuch is the traditional Austrian passbook savings account at branch banks, typically with low rates (0.01 to 0.50% p.a.) and either daily access or a 3-month notice period. For emergency funds, Tagesgeld; for medium-term savings, Festgeld; Sparbuch is mostly legacy.

### Do I need an Austrian IBAN to open a Tagesgeld account?

It depends on the provider. Austrian banks (DADAT, DenizBank, Anadi, bank99, Porsche Bank) require an Austrian IBAN as the reference account for deposits and withdrawals. EU banks like Trade Republic, Scalable Capital, and Renault Bank accept any SEPA IBAN, including German, Dutch, or other Austrian IBANs. For new arrivals without an Austrian bank account, the latter group is the easier entry point.

### What does 'steuereinfach' mean?

Steuereinfach (literally tax-simple) means the bank automatically withholds the 25% Austrian KESt on interest and remits it to the Finanzamt on your behalf. You do not need to declare the income in your annual Einkommensteuererklärung. Most Austrian banks and some EU banks (DenizBank, DADAT, bank99) are steuereinfach; foreign-domiciled banks (Trade Republic, Scalable, Renault) usually are not, requiring self-declaration.

## Related guides

[### Open a Bank Account in Austria The Austrian-IBAN reference account most Tagesgeld providers require.](/banking/open-bank-account)[### Best Credit Cards Pair your savings with a fee-aware card. Live finder included.](/banking/credit-cards)[### Asset Managers Beyond Tagesgeld: when to step up to ETF and discretionary portfolios.](/banking/asset-managers)[### Austrian Income Tax How interest income is reported when your bank is not steuereinfach.](/taxes/income-tax)Rates verified May 2026 against issuer pages. Tagesgeld conditions change frequently; always confirm the current promo and post-promo rates on the issuer's site before opening an account.

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Source: https://www.how-to-austria.com/banking/savings-accounts
Last updated: Updated: May 19 2026
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