Best Altersvorsorgedepot providers compared 2026
On pure cost, the neobrokers lead: Trade Republic (best overall score), Scalable Capital (highest cash interest) and finanzen.net zero (the only live AVD page). Direct banks such as ING, DKB, flatex, Consorsbank and Comdirect score well on the €0 account, but cost more on one-off orders and percentage-based savings plans. Which account fits depends on the type of investor you are.
By Tilman Freyenhagen · Reviewed by the Vorsorgedepot-Lotse editorial team · Published 22 June 2026 · Last checked 22 June 2026 · Next review Q4 2026
8 providers compared · independently evaluated · as at 22 June 2026
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The top 3 at a glance
Ranked by 5 equally weighted criteria (20% each): Account fee, Savings-plan costs, Order fees, Settlement-account interest, AVD readiness from 2027. The overall score is the unweighted mean of these criteria — no criterion counts more than another. How we rated
9.3Free ETF/share savings plans with genuine fractional shares from €1, on a €0 basis.
9.22.50% p.a. on cash, uncapped, for new and existing customers; PRIME+ raises deposit protection to up to €500,000.
A fee-free account plus a publicly promised, waiting-list-open 2027 Altersvorsorgedepot ("Riester successor, fee-free").
All providers compared
0–10 rating per dimension; overall score = unweighted mean. As at 22 June 2026, terms variable.
| # | Provider | Account | Savings plan | Orders | Cash interest | AVD readiness | Total | Action |
|---|---|---|---|---|---|---|---|---|
| 1 | Beste GesamtwertungBerlin-based neobroker with a €0 securities account, free ETF/share savings plans from €1, and a flat €1 order fee | 10 | 10 | 10 | 8.5 | 8 | 9.3 | Learn more ↗ |
| 2 |  Bester Cash-ZinsMunich-based broker with a free FREE tariff (€0 account, €0 savings plan from €1) and an optional PRIME+ subscription (€4.99/month) with a trading flat rate; the highest verified cash interest rate in the field. | 10 | 10 | 9.5 | 9.5 | 7 | 9.2 | Learn more ↗ |
| 3 | finanzen.net zeroAVD-VorreiterFee-free gettex neobroker (€0 account, €0 orders ≥ €500, €0 savings plans from €1) | 10 | 9.5 | 10 | 4 | 9.5 | 8.6 | Learn more ↗ |
| 4 |  Established online broker (flatexDEGIRO Bank SE) with a €0 account, €0 on all 5,000+ savings-plan executions, and a flat-price order model; its own AVD landing page. | 10 | 9 | 4.5 | 2.5 | 9 | 7 | Learn more ↗ |
| 5 | ConsorsbankDirect bank (BNP Paribas) with a €0 account, a 0% ETF savings-plan fee and a time-limited €0.95 new-customer order offer; the regular tariff is tiered. | 10 | 9 | 4.5 | 4.5 | 6 | 6.8 | Learn more ↗ |
| 6 |  Major-bank direct account (ING-DiBa AG) with a €0 account and permanently free ETF savings plans (all 1,100+), a classic base-fee-plus-percentage order model. | 10 | 9.5 | 4 | 2.5 | 7.5 | 6.7 | Learn more ↗ |
| 7 |  Direct bank with a €0 account for everyone (no active-status hurdle), 500+ free promotional ETFs and a publicly promised 2027 Altersvorsorgedepot. | 10 | 7.5 | 3.5 | 3 | 9 | 6.6 | Learn more ↗ |
| 8 |  Fully featured direct-bank account (a Commerzbank brand) with a huge fund/ETF universe, a €0 account (3 years, then conditional) and fractional-share savings plans from €1. | 9 | 6 | 3 | 3.5 | 6 | 5.5 | Learn more ↗ |
How we rated
- Evidence before score: raw figures (fees, interest, counts) per provider checked against the official live pricing page (retrieved 22 June 2026), then rated.
- 0–10 scale per dimension against fixed anchors (€0 unconditional = 10; percentage-based/expensive models scored down).
- Order fees rated on the sustainable regular price of a €1,000 order, not on time-limited new-customer promos.
- Cash interest: interest paid directly on the account's liquidity counts in full; a purely separate Tagesgeld account counts only partially.
- overallScore = the unweighted mean of the 5 dimensions; ranking descending; badges only for clearly differentiated top places.
What is an Altersvorsorgedepot provider?
An Altersvorsorgedepot provider is a securities-account provider (a neobroker or a direct bank) through which you can already invest cost-effectively in ETFs and funds today, and which plans to convert or extend this account into the new, state-subsidised Altersvorsorgedepot (AVD) from 1 January 2027. Two things are compared: (1) how cheap the account is today (account management, savings-plan and order fees, interest on cash balances) and (2) how well prepared the provider is for the AVD (fractional shares, flexible savings plans, low costs, a public AVD commitment).
What should you look out for when choosing?
- Account management fee p.a.: ideally €0 with no condition (watch for "free for 3 years only" or activity requirements).
- Savings-plan costs: €0/execution beats percentage-based models; check the number of free/promotional ETFs and the minimum savings rate.
- Fractional shares: essential so a fixed monthly amount is fully invested (and a basic requirement for AVD micro-contributions).
- Order fees: secondary for buy-and-hold, decisive for one-off purchases/active trading; flat fee vs. base fee + % + venue fee.
- Interest on the settlement/cash account: neobrokers pay interest directly on liquidity; direct banks usually pay 0% and only via a separate Tagesgeld account.
- Savings-plan-eligible ETFs & trading venues: selection, and whether there is only a single venue (gettex/LS) or several exchanges.
- AVD readiness from 2027: an own AVD page/waiting list/commitment (the strongest signal) versus mere structural suitability; the Riester transfer path.
- Deposit protection: the statutory €100,000 and what happens to cash above that (a money market fund versus spreading across partner banks).
Which option suits whom, and which costs count?
Dig into the individual cost levers in the detailed comparisons:
Common mistakes when choosing an account
- Looking only at new-customer promotional prices. €0.95 or €3.90 order promos expire after 12–24 months; the regular tariff then applies.
- Underestimating savings-plan costs. A 1.5% model costs €7.50 per execution at €500/month, and over the years, more than any account fee.
- Overrating order fees for buy-and-hold. Anyone investing long term via a savings plan rarely triggers one-off orders.
- Confusing settlement-account interest with Tagesgeld. A direct bank's "X% interest" often applies only to a separate, time-limited Tagesgeld account.
- Taking AVD marketing promises at face value. No AVD is live before 2027; "fee-free"/"0.15%" are sometimes an announcement or a secondary source.
- Overlooking deposit protection above €100,000. Cash above the threshold is protected differently depending on the provider (a money market fund is not classic deposit protection).
The providers in detail
Beste GesamtwertungBerlin-based neobroker with a €0 securities account, free ETF/share savings plans from €1, and a flat €1 order fee. The cheapest realistic entry cost for long-term investing.
What stands out
Free ETF/share savings plans with genuine fractional shares from €1, on a €0 basis.
Pros
- No ongoing account/savings-plan fees: €0 account + €0 savings plan.
- Flat, volume-independent order fee (€1 whether you invest €1,000 or €10,000).
- 2.25% interest on cash, no cap, the same for new and existing customers.
Cons
- Only one trading venue (LS Exchange/Lang & Schwarz): no choice of exchange, no direct Xetra routing.
- Cash above €100,000 does not fall under classic deposit protection, but into a money market fund (a different protection regime).
Best for: Cost-conscious private investors who want broad, long-term diversification via a free savings plan from €1.
Bester Cash-ZinsMunich-based broker with a free FREE tariff (€0 account, €0 savings plan from €1) and an optional PRIME+ subscription (€4.99/month) with a trading flat rate; the highest verified cash interest rate in the field.
What stands out
2.50% p.a. on cash, uncapped, for new and existing customers; PRIME+ raises deposit protection to up to €500,000.
Pros
- Zero ongoing platform costs on the FREE tariff (€0 account + €0 savings plan from €1, fractional shares).
- Genuine €0 orders ≥ €250 via the PRIME+ flat rate on gettex.
Cons
- "Free" comes with conditions: it depends on the tariff, the €250 threshold, ETF partner status and the trading venue; a €1,000 non-PRIME ETF order costs €0.99 on the FREE tariff, plus €3.99 on Xetra in both tariffs.
Best for: Savings-plan investors on the €0 platform, plus active traders who route orders ≥ €250 via gettex (PRIME+).
Fee-free gettex neobroker (€0 account, €0 orders ≥ €500, €0 savings plans from €1). The only provider with an already live AVD product page and waiting list.
What stands out
A fee-free account plus a publicly promised, waiting-list-open 2027 Altersvorsorgedepot ("Riester successor, fee-free").
Pros
- Genuine zero costs: €0 account, €0 orders ≥ €500, €0 savings plans from €1, fractional shares (per the site, "cost leader, Stiftung Warentest 12/2025").
- Explicit, early AVD commitment: dedicated page, waiting list, Riester transfer, "fee-free," from €10/month.
Cons
- Single venue + PFOF risk: gettex only; the fee-free model is PFOF-funded, and the PFOF ban from July 2026 forces a tariff change.
- No genuine interest-bearing cash account (return only via a money market ETF); orders below €500 cost €1.
Best for: Buy-and-hold savers who trade ≥ €500 via gettex and want to join the 2027 AVD early.
Established online broker (flatexDEGIRO Bank SE) with a €0 account, €0 on all 5,000+ savings-plan executions, and a flat-price order model; its own AVD landing page.
What stands out
€0 on every one of 5,000+ savings-plan executions, with fractional shares from €25 a month.
Pros
- €0 account + €0 on all 5,000+ savings-plan executions (1,000+ ETFs), minimum rate €25, fractional shares.
- Visible 2027 AVD readiness: a dedicated AVD page plus an existing fractional-share/flexible-plan engine.
Cons
- Single/one-off orders carry a fixed minimum of around €7.90 (€5.90 + €2 venue fee), volume-independent: expensive for small one-off trades.
- No published interest rate on cash holdings (a transparency gap) plus a custody fee for Xetra-Gold/ADR/GDR.
Best for: Cost-conscious long-term savings-plan investors (and AVD prospects) who place €0 executions alongside inexpensive one-off trades.
Direct bank (BNP Paribas) with a €0 account, a 0% ETF savings-plan fee and a time-limited €0.95 new-customer order offer; the regular tariff is tiered.
What stands out
€0 account + 0% ETF savings-plan fee + automatic fractional shares: an almost frictionless savings-plan machine.
Pros
- No account fee and a 0% ETF savings-plan fee (both officially confirmed).
- Low entry point plus fractional shares: savings plans from €10, 1,700+ ETFs.
Cons
- The low order price is mostly a time-limited promotion: after the opening month plus 12 months, the tiered model applies (Silver €4.95 + 0.25%, min. €9.95); regular one-off orders cost considerably more.
Best for: Cost-sensitive ETF savings-plan investors who want a €0 account, 0% savings plans and fractional shares from €10.
Major-bank direct account (ING-DiBa AG) with a €0 account and permanently free ETF savings plans (all 1,100+), a classic base-fee-plus-percentage order model.
What stands out
All 1,100+ ETF savings plans permanently €0 execution on a €0 account: a fully free savings-plan engine from a major bank.
Pros
- €0 account with no turnover condition, and all 1,100+ ETF savings plans permanently €0 (confirmed in the binding price list).
- Low entry barrier with fractional shares (savings plan from €1, sellable fee-free).
- Double deposit protection (statutory + BdB fund).
Cons
- One-off orders are comparatively expensive: 0.25% + venue fee with no low flat cap: around €10.30 on €1,000 via Xetra, scaling with volume; the model favours savings plans, not one-off trades.
Best for: Cost-conscious buy-and-hold ETF savers with automatic savings plans from €1, not frequent traders.
Direct bank with a €0 account for everyone (no active-status hurdle), 500+ free promotional ETFs and a publicly promised 2027 Altersvorsorgedepot.
What stands out
Free account management for everyone with no active-status hurdle, plus a publicly promised 2027 AVD product.
Pros
- €0 account for everyone, with no activity hurdle.
- Broad savings-plan range with 500+ free promotional ETFs and genuine fractional shares from €25/month.
- A concretely promised 2027 AVD: a front-runner among the direct banks.
Cons
- One-off trades are comparatively expensive: a €10 minimum order commission (+ up to €2.50 on Xetra) versus around €1/free at neobrokers; the standard savings plan costs €1.50/execution outside the promotional ETFs.
- Fractional shares are not portable when switching accounts.
Best for: Buy-and-hold ETF savers who want a permanently free full-service bank account and an early line to the 2027 AVD.
Fully featured direct-bank account (a Commerzbank brand) with a huge fund/ETF universe, a €0 account (3 years, then conditional) and fractional-share savings plans from €1.
What stands out
A genuinely free account (3 years unconditional, then free with 1 quarterly savings plan) plus fractional-share savings plans from €1 across > 1.3 million instruments.
Pros
- A free account that's easy to keep fee-free (3 years unconditionally, then €0 with, e.g., 1 savings plan per quarter).
- Low-threshold fractional-share savings plans from €1 across > 10,000 instruments.
- Independently ranked cost-competitive (Stiftung Warentest "cost leader 12/2025," a self-citation).
Cons
- The savings-plan fee scales poorly (1.5%/execution; 1.5% on €500 = €7.50) and regular orders are expensive (base fee + 0.25% plus a €2.50 minimum venue fee → approx. €12.40 on €1,000), far above neobroker flat fees.
Best for: Long-term investors who want a free, fully featured account with a huge fund/ETF universe and small, flexible savings plans, not large one-off orders.
Frequently asked questions
- Which securities account is cheapest in 2026?
- On pure cost, the neobrokers lead: Trade Republic (€0 account, €0 savings plan, a flat €1 order), Scalable Capital (€0 account/savings plan, the highest cash interest) and finanzen.net zero (€0 orders ≥ €500). Direct banks such as ING, DKB or Comdirect also offer a €0 account, but cost more on one-off orders and percentage-based savings-plan models. (As at 22 June 2026; terms vary.)
- What is the Altersvorsorgedepot from 2027, and which provider is ready for it?
- The AVD is the state-subsidised, capital-market-based retirement product launching on 1 January 2027 (a Riester successor with no insurance wrapper); the law is passed and promulgated. finanzen.net zero, DKB and flatex already have their own AVD product pages/waiting lists; Trade Republic and ING have stated their intent. Structurally, all the compared providers are suited to it.
- "X% interest": does that apply to my money in the account?
- At neobrokers (Trade Republic 2.25%, Scalable 2.50%), yes: the liquidity in the settlement/cash account is remunerated directly. At direct banks, the settlement-account interest is usually 0%; advertised rates (e.g. Consorsbank 3.40%, Comdirect 1.5%) apply only to a separate, often time-limited Tagesgeld account.
- Can I later move my current ETF savings plan into the AVD?
- That depends on the provider. finanzen.net zero names a Riester transfer path from 2027; the exact portability of existing accounts into the AVD is not yet finalised per provider (as at 22 June 2026). Whoever runs a low-cost savings-plan account with an AVD front-runner early holds the best cards.
- Are "free" accounts really free?
- Account management, yes (€0 p.a.), but watch for conditions (Comdirect: €0 for only 3 years or with activity), savings-plan fees (1.5% models), venue fees and spreads. Genuine zero cost exists at Trade Republic, Scalable (FREE) and finanzen.net zero.
Sources
- Trade Republic: Trade Republic: Sparpläne (retrieved 22 June 2026)
- Scalable Capital: Scalable: Trading-Gebühren (retrieved 22 June 2026)
- finanzen.net zero: finanzen.net zero: Konditionen (retrieved 22 June 2026)
- flatex: flatex: Preise (retrieved 22 June 2026)
- Consorsbank: Consorsbank: Preise/Zinsen Wertpapiere (retrieved 22 June 2026)
- ING: ING: PLV (Stand 10.02.2026) (retrieved 22 June 2026)
- DKB: DKB: Depot/Order (retrieved 22 June 2026)
- Comdirect: Comdirect: Konditionen Wertpapierhandel (retrieved 22 June 2026)
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