What is a savings account?
A savings account is a safe place to put money aside and ideally increase it with the highest possible interest. In addition to the classic savings book of the savings banks (in book form or as an electronic SparCard), almost all banks and financial institutions offer other savings accounts under different conditions that are explicitly intended for saving and cannot be used for everyday financial transactions. They usually have similar names, often a combination of "savings book" or "savings account" and the name of the financial institution. But other accounts are also suitable for savings, such as overnight money or fixed-term deposits.
By making a comparison test-vergleiche.com you can see which banks offer the best savings rates for sight and time deposits. After the comparison, you can open the desired savings account on the provider's website. The savings rates are updated daily.
How the savings account works
As a rule, account holders can deposit money as often and in the desired amount into their savings account as well as into a current account or a current account. You can withdraw money at most banks at any time, but only up to a maximum of 2.000 euros per month. This is an essential difference to current and fixed deposit accounts: With overnight money, the money is available in full at all times, while with fixed deposit accounts the account holders have no access to their money at all during the term.
