Instant access savings: crediting interest

Crediting interest increases your capital

Different approaches to paying out interest on instant access savings

Banks use different models when it comes to crediting interest. Many pay it annually, some even quarterly or monthly. At DKB you always receive your interest on 31 December, or correspondingly earlier if you want to close the account before then. The advantage of instant access savings is that your money works from day one, and without restrictions: neither a minimum nor a maximum deposit is required. You always earn the full rate on your instant access savings from the very first euro. You can benefit further by paying a monthly amount into the account by standing order. The interest credited at the end of the year then increases accordingly. If you leave the interest in the instant access savings account, your savings capital grows again.

How DKB credits interest

At DKB you earn the full rate from the very first euro. The size of the deposit matters as little as how long it is invested for. Even if you need your money again after just a few days, you are credited the full interest for that period. Interest is always credited at the end of the year, on 31 December. If you no longer need the instant access savings account and close it, we pay the money out to you. In doing so we take into account the interest we have already credited to you, even if the year has not yet ended. Interest is always credited directly to the instant access savings account. That way your savings grow more or less automatically with each interest credit. Do you suddenly need the interest, or your whole balance, for a larger purchase after all? Then, thanks to the complete flexibility of the instant access savings account, you can simply transfer your balance to your reference account and use it accordingly.

Watch the terms attached to interest on instant access savings

You should look at more than the interest you earn. You also have to take into account the costs the instant access savings account involves. DKB customers have the advantage that no fees at all are charged for services. Opening and running the account are free of charge. Customers also pay nothing for transfers, virtual account statements or the text messages for the mTAN procedure. And there are no DKB fees for matters that have to be handled by post either. You receive a tax certificate free of charge, for example, which you can use to evidence the interest credited in your income tax return. Interest credits and payments out are made promptly: with an instant access savings account, an instruction given by 3pm is transferred the same day, otherwise the following day. Instant access savings are therefore particularly suitable for anyone who needs to get at their savings within a very short time. But savers who want to invest their money long term also often choose an instant access savings account. Thanks to a savings plan with regular payments in and the crediting of interest, the money works without you having to do anything - and does so very profitably.