Interest on the settlement account: where your cash in the account earns interest
Only neobrokers pay interest directly on the liquidity in the settlement account: Scalable Capital (2.50%) and Trade Republic (2.25%) lead, both uncapped. Direct banks usually pay 0% on the settlement account and only lure with a separate, often time-limited Tagesgeld account. Note: advertised Tagesgeld rates are not the account's own interest rate. All rates are variable (as at 22 June 2026).
By Tilman Freyenhagen · Reviewed by the Vorsorgedepot-Lotse editorial team · As at 22 June 2026 · Next review Q4 2026
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The settlement account holds your account's uninvested liquidity. Neobrokers pay interest directly on this balance; direct banks usually do not. There, interest is only available via a separate Tagesgeld account, often as a time-limited promotion. This comparison rates the directly available cash interest.
Top providers for Settlement-account interest
The three providers with the best Settlement-account interest rating.
Settlement-account interest
Settlement account 0.00%; separate Tagesgeld 3.40% p.a. (5 months, up to €1m)
Settlement-account interest compared head-to-head
Ranked by Settlement-account interest score. As at 22 June 2026, terms variable.
| # | Provider | Interest rate p.a. | Cap/condition | New vs. existing | Deposit protection | Score | Action |
|---|---|---|---|---|---|---|---|
| 1 |  | 2.50% p.a. (variable) | no cap | new and existing customers | €100,000 (FREE); up to 5 × €100,000 = €500,000 (PRIME+, spread across partner banks) | 9.5 | Learn more ↗ |
| 2 |  | 2.25% p.a. | no cap | same for new and existing customers | €100,000 (partner banks); above that, a money market fund | 8.5 | Learn more ↗ |
| 3 | Consorsbank | Settlement account 0.00%; separate Tagesgeld 3.40% p.a. (5 months, up to €1m) | up to €1m (Tagesgeld promo) | Tagesgeld promo (follow-on rate after 5 months per the price list) | €100,000 (French FGDR + BdB member) | 4.5 | Learn more ↗ |
| 4 | finanzen.net zero | No direct interest on cash; an interest offer via a money market ETF (approx. 1.91% after costs, as at 29 Aug 2025, outdated) | no maximum amount | n/a | statutory (partner bank not named on the site, [UNVERIFIED]) | 4 | Learn more ↗ |
| 5 |  | Settlement account unremunerated; separate Tagesgeld 1.5% p.a. (up to €5m) / 1.75% in the current-account bundle (new customers) | up to €5m (Tagesgeld) | new customers 1.75% in the current-account bundle | statutory €100,000 + BdB fund ([UNVERIFIED] on the official site in this session) | 3.5 | Learn more ↗ |
| 6 |  | Settlement account 0%; separate Tagesgeld 1% p.a. (variable, new accounts) | no cap | new accounts | statutory + ESF (public-sector banks) | 3 | Learn more ↗ |
| 7 |  | [UNVERIFIED]: flatex does not publish a credit interest rate on its public pages (variable, in the price list as at 16.12.2025) | n/a | n/a | statutory €100,000 (EdB) | 2.5 | Learn more ↗ |
| 8 |  | Settlement account (Extra-Konto) €0 / no guaranteed credit interest in the price list; any Extra-Konto promotion is a separate, time-limited offer ([UNVERIFIED] current rate) | n/a | n/a | statutory €100,000 + voluntary BdB fund | 2.5 | Learn more ↗ |
The providers in detail
Settlement-account interest per provider, with the full score profile and neutral pros/cons.
Bester Cash-Zins- Interest rate p.a.
- 2.50% p.a. (variable)
- Cap/condition
- no cap
- New vs. existing
- new and existing customers
- Deposit protection
- €100,000 (FREE); up to 5 × €100,000 = €500,000 (PRIME+, spread across partner banks)
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+).
Beste Gesamtwertung- Interest rate p.a.
- 2.25% p.a.
- Cap/condition
- no cap
- New vs. existing
- same for new and existing customers
- Deposit protection
- €100,000 (partner banks); above that, a money market fund
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.
- Interest rate p.a.
- Settlement account 0.00%; separate Tagesgeld 3.40% p.a. (5 months, up to €1m)
- Cap/condition
- up to €1m (Tagesgeld promo)
- New vs. existing
- Tagesgeld promo (follow-on rate after 5 months per the price list)
- Deposit protection
- €100,000 (French FGDR + BdB member)
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.
- Interest rate p.a.
- No direct interest on cash; an interest offer via a money market ETF (approx. 1.91% after costs, as at 29 Aug 2025, outdated)
- Cap/condition
- no maximum amount
- New vs. existing
- n/a
- Deposit protection
- statutory (partner bank not named on the site, [UNVERIFIED])
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.
- Interest rate p.a.
- Settlement account unremunerated; separate Tagesgeld 1.5% p.a. (up to €5m) / 1.75% in the current-account bundle (new customers)
- Cap/condition
- up to €5m (Tagesgeld)
- New vs. existing
- new customers 1.75% in the current-account bundle
- Deposit protection
- statutory €100,000 + BdB fund ([UNVERIFIED] on the official site in this session)
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.
- Interest rate p.a.
- Settlement account 0%; separate Tagesgeld 1% p.a. (variable, new accounts)
- Cap/condition
- no cap
- New vs. existing
- new accounts
- Deposit protection
- statutory + ESF (public-sector banks)
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.
- Interest rate p.a.
- [UNVERIFIED]: flatex does not publish a credit interest rate on its public pages (variable, in the price list as at 16.12.2025)
- Cap/condition
- n/a
- New vs. existing
- n/a
- Deposit protection
- statutory €100,000 (EdB)
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.
- Interest rate p.a.
- Settlement account (Extra-Konto) €0 / no guaranteed credit interest in the price list; any Extra-Konto promotion is a separate, time-limited offer ([UNVERIFIED] current rate)
- Cap/condition
- n/a
- New vs. existing
- n/a
- Deposit protection
- statutory €100,000 + voluntary BdB fund
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.
How we rate Settlement-account interest
Interest paid directly on the account's liquidity is the main measure. A purely separate Tagesgeld account counts only partially; time-limited promotional rates are dampened; unpublished rates are scored conservatively low, with a note. All rates variable.
Frequently asked questions
- Is the advertised rate the interest on my money in the account?
- Not necessarily. At neobrokers (TR 2.25%, Scalable 2.50%), yes: the account's liquidity is remunerated directly. At direct banks, the advertised rate usually applies only to a separate, often time-limited Tagesgeld account. The settlement account itself stays at 0%.
- Are these interest rates guaranteed?
- No. Cash and Tagesgeld interest rates are variable and sometimes time-limited. The figures shown here are as at 22 June 2026; the provider's current official information always applies.
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