Overnight Money Comparison Austria 2026 — 15 banks tested

Scored against our publicly documented methodology.

With the European Central Bank's meeting of 5 June 2026, the backdrop for overnight money accounts in Austria has shifted again. The deposit facility rate, which anchors the pricing of almost every Tagesgeld product, now sits at 1.75 per cent — 25 basis points below the level prevailing in May. For savers, that signals the end of the era of confident four-per-cent offers, and providers have begun to trim conditions quietly. Several pulled the trigger on the day of the decision itself, others have flagged cuts with the customary two-week notice.

We compared 15 overnight money providers available in Austria — domestic institutions, German direct banks with Austrian market access, EU-passported banks from France and Turkey, and fintechs with an overnight-deposit function. Scoring follows uniform criteria: headline rate, deposit insurance, terms for new and existing customers, KESt handling, and payout speed. Rates as at 6 June 2026.

The 15 providers in direct comparison

| Rank | Provider | New-customer rate | Existing-customer rate | Insurance | KESt automatic | Minimum | |------|----------|-------------------|------------------------|-----------|----------------|---------| | 1 | Renault Bank direkt | 2.40% p.a. (6 months) | 1.50% p.a. | DE EUR 100,000 | No | EUR 1 | | 2 | DenizBank AG | 2.30% p.a. (12 months) | 1.60% p.a. | AT EUR 100,000 | Yes | EUR 500 | | 3 | Santander Consumer Bank | 2.20% p.a. (4 months) | 1.55% p.a. | AT EUR 100,000 | Yes | EUR 1 | | 4 | Anadi Bank | 2.10% p.a. (3 months) | 1.45% p.a. | AT EUR 100,000 | Yes | EUR 1 | | 5 | Addiko Bank | 2.00% p.a. (12 months) | 1.40% p.a. | AT EUR 100,000 | Yes | EUR 1 | | 6 | Trade Republic | 1.85% p.a. (open-ended, up to EUR 50,000) | 1.85% p.a. | DE EUR 100,000 | No | EUR 1 | | 7 | ING Austria | 1.80% p.a. (4 months, up to EUR 100,000) | 1.30% p.a. | AT EUR 100,000 | Yes | EUR 1 | | 8 | bank99 | 1.70% p.a. (6 months) | 1.25% p.a. | AT EUR 100,000 | Yes | EUR 1 | | 9 | easybank | 1.60% p.a. (promo) | 1.20% p.a. | AT EUR 100,000 | Yes | EUR 1 | | 10 | N26 | 1.55% p.a. (main account, dynamic) | 1.55% p.a. | DE EUR 100,000 | No | EUR 1 | | 11 | BAWAG | 1.50% p.a. (6 months) | 1.10% p.a. | AT EUR 100,000 | Yes | EUR 1 | | 12 | Revolut Ultra/Metal | 1.45% p.a. (flexible EUR account) | 1.45% p.a. | LT EUR 100,000 | No | EUR 1 | | 13 | dadat | 1.40% p.a. (promo) | 1.00% p.a. | AT EUR 100,000 | Yes | EUR 1 | | 14 | Erste Bank | 1.30% p.a. (promo) | 0.95% p.a. | AT EUR 100,000 | Yes | EUR 1 | | 15 | Wise | 1.25% p.a. (EUR Interest feature) | 1.25% p.a. | BE safeguarding, no classical insurance | No | EUR 1 |

The table is sorted by new-customer rate. Readers seeking the more meaningful figure for medium-term parking should consult the "existing-customer rate" column. The order shifts noticeably there.

What changed after the 5 June ECB meeting

The cut to a 1.75 per cent deposit facility rate is the fifth in succession since the cycle peak of 4.00 per cent in summer 2024. Tagesgeld does not track that rate one-for-one but with a discount: banks earn on the gap between what they themselves park at the ECB (1.75 per cent) and what they pay savers. In the days before the meeting, several providers had already pre-emptively trimmed promo rates by 10 to 20 basis points. Renault Bank direkt and DenizBank AG followed on the day of the decision itself; ING Austria has flagged an adjustment for 20 June.

The relevant detail for savers: promotional rates are usually guaranteed for the communicated period — four, six, or twelve months. Anyone signing up today locks the rate in for the full promo window, even if the provider lowers the new-customer rate shortly afterwards. Once the promo lapses, the lower existing-customer rate takes over. That mechanism is what makes the comparison complex — and what keeps rate-shopping between banks alive.

Deposit insurance — where the money actually sits

In Austria, the Einheitliche Sicherungseinrichtung (ESA) applies under the EU deposit guarantee directive. It protects deposits up to EUR 100,000 per customer per institution. That covers Erste Bank, BAWAG, easybank, bank99, dadat, Anadi Bank, Addiko Bank, ING Austria, DenizBank AG, and Santander Consumer Bank Austria, provided the local arm is an Austrian institution in its own right.

For the German direct banks (Renault Bank direkt, Trade Republic, N26), the German Entschädigungseinrichtung deutscher Banken (EdB) kicks in — also EUR 100,000 per customer per institution. EU-wide passporting applies: a deposit insurance scheme in one member state is recognised in all others. In practice, this means an Austrian saver faces one additional procedural step in an insolvency, because payout runs through the German agency.

Revolut relies on the Lithuanian deposit insurance scheme via its EU subsidiary bank Revolut Bank UAB. Wise, by contrast, is not a bank in the classical sense but a Belgian-licensed e-money institution. Balances at Wise are segregated under the EU e-money regime — they are not part of the insolvency estate, but also not protected by classical deposit insurance. Anyone using Wise should keep large balances elsewhere.

KESt — automatic or not

Austrian banks automatically withhold the 25 per cent capital gains tax (KESt) on interest income. Savers see the net yield on the statement, with the gross figure appearing only in the annual summary. That applies to all Austrian-resident institutions in our list: Erste Bank, BAWAG, easybank, bank99, dadat, Anadi Bank, Addiko Bank, ING Austria, DenizBank AG, and Santander Consumer Bank Austria. See also KESt.

At German providers without an Austrian branch (Renault Bank direkt, Trade Republic, N26) and at Revolut and Wise, no such automatism applies. Savers must declare the interest income themselves on the Austrian income-tax return — as investment income — and credit any German withholding tax. Trade Republic has issued an Austria-specific annual report since early 2026, which reduces the filing burden; Renault Bank direkt and N26 deliver only German tax certificates.

For a simple filing process, Austrian-resident banks are markedly more comfortable. Anyone chasing the rate advantage who has a tax adviser, or who is confident filing independently, can pursue the German direct route — the net position after KESt credit is typically the same as at an Austrian provider with an identical gross rate.

Conditions and the fine print

The gross rate is only one half of the story. The other half is the fine print.

• Promo period — Renault Bank direkt: 6 months. Santander: 4 months. DenizBank AG: 12 months. Anadi: 3 months. Addiko: 12 months. Once the promo ends, the rate falls back to the existing- customer figure, which often sits 20 to 50 per cent below the promotional level.

• Cap — Trade Republic pays interest up to EUR 50,000; ING Austria up to EUR 100,000 within the promo window. Sums above run at the (lower) existing-customer rate.

• Existing-customer exclusion — several providers (Santander, BAWAG, easybank) grant the promotional rate only to new customers. Anyone with an account in the past 12 or 24 months is excluded.

• Main-account binding — N26 ties the rate to use as a salary account. Pure parking, without main-account function, sees lower rates.

• Subscription tie — Revolut pays the cited 1.45 per cent only on the Ultra and Metal tiers (EUR 16.99 and EUR 13.99 per month, respectively). On Plus or Standard the rate is considerably lower or zero.

• FX costs — Wise pays 1.25 per cent on the EUR balance of the Interest feature. USD or GBP holders get different rates and incur a modest FX charge on reconversion.

Seven profiles, seven recommendations

1. Maximum rate, six months, German bank

Renault Bank direkt at 2.40 per cent over six months is the highest reliable rate in the comparison. Downside: KESt not automatic, and the rate falls to 1.50 per cent after the promo. On EUR 50,000 over six months, that is around EUR 600 gross, or roughly EUR 450 net after KESt.

2. Maximum rate, twelve months, Austrian branch

DenizBank AG at 2.30 per cent over twelve months combines a high rate with a longer guarantee and Austrian tax service. Minimum deposit EUR 500. For many Austrian savers, this is the best overall package — provided the 2.30 per cent holds and the bank does not adjust before the end of the promo.

3. Consistent promo bonus for larger sums

Santander Consumer Bank Austria pays 2.20 per cent over four months with an Austrian branch and automatic KESt. Four months is short — those willing to rotate actively keep the top rate across quarter boundaries.

4. Starter without promo pressure

Trade Republic at 1.85 per cent open-ended (up to EUR 50,000) is no longer a top rate, but it is stable. Anyone already holding stocks or ETFs in a Trade Republic account avoids switching and has the liquidity instantly available. See also setting up a savings plan 2026.

5. Established Austrian high-street bank, modest ambitions

Erste Bank and BAWAG pay 1.30 and 1.50 per cent respectively on promo. Anyone with a main account there who does not want to switch can simply let Tagesgeld run alongside — without chasing the best rate. Convenient, not maximum.

6. Fintech with comfort, mid-range terms

N26 and Revolut Ultra/Metal sit at around 1.5 per cent and are interesting for users who already operate these accounts as main or travel accounts. As a pure savings vehicle, they are not a first choice — the Revolut subscription cost eats part of the rate advantage.

7. Multi-currency parking

Wise is not a Tagesgeld provider in the classical sense, but for savers with international balances (freelancers, Austrians abroad), it is an option. Because of its e-money status, no deposit insurance applies — sums above a few thousand euros do not belong there long term.

Common questions

How quickly do Tagesgeld rates change?

In the weeks after an ECB decision, most providers adjust their existing-customer rates with a two-week notice period. Promotional offers for new customers often hold longer, as they serve a marketing purpose. Anyone chasing the highest rate today should review at least every three months.

Is my deposit at a foreign bank safe in Austria?

Within the EU, deposit insurance passporting applies. A German, Dutch, or Lithuanian bank is covered up to EUR 100,000 per customer through its national scheme. In insolvency, payout runs via the home-state authority. For German direct banks, this is uncritical in practice.

Should I split Tagesgeld across several banks?

For sums above EUR 100,000 per person per institution, splitting is mandatory to stay within the insurance cap. Below that, it is a matter of convenience: two accounts at two different banks diversify insolvency risk, but cost effort in opening, KESt declaration (at German banks), and tracking.

Is rotating between promo providers every few months worth the effort?

For sums upwards of EUR 20,000 and rate gaps of 50 basis points or more, the effort may pay off — a 2.40 per cent promo over six months brings 50 basis points more than a 1.90 per cent one, which is around EUR 50 gross per EUR 20,000. For many savers, the complexity is not worth it. Those who already enjoy active parking come out measurably ahead through rotation.

What is the difference between Tagesgeld and Festgeld?

Tagesgeld is available daily; the rate is variable and can change at short notice. Festgeld locks the deposit for a defined period (3, 6, 12 or 24 months) at a fixed rate. Anyone needing liquidity takes Tagesgeld. Those willing to forgo access to lock in a rate take Festgeld.

How does inflation affect the real Tagesgeld rate?

HICP inflation in Austria ran at 2.4 per cent in May 2026. On a gross rate of 2.30 per cent and a 25 per cent KESt withholding, around 1.73 per cent remains net — slightly below the prevailing inflation rate. Cash on a Tagesgeld account loses real purchasing power, modestly. For liquidity reserves, that is acceptable; for medium-term wealth building, it is not. With a 5- to 10-year horizon, Tagesgeld should sit only as a base layer, with the rest shifted into ETF savings plans or other vehicles. See also buying ETFs in Austria.

What if the ECB cuts further?

The market consensus for the second half of 2026 sees a further cut to 1.50 per cent, with room down to 1.25 per cent should inflation slip further below target. Tagesgeld rates would follow — promotional offers would drift toward 1.80 to 2.00 per cent, existing-customer rates toward 1.00 per cent. Anyone wanting to fix a rate for 12 months should consider Festgeld.