Sparkonto

In short: The Sparkonto is the most flexible of Bank Norwegian's three savings accounts: unlimited free withdrawals, no notice period, no minimum deposit. In return it pays the lowest rate of the three, currently 1.90%. It suits an emergency fund you want to access at any time.

What is the Sparkonto?

The Sparkonto is a variable-rate deposit account from Bank Norwegian, a brand of NOBA Bank Group AB (publ) NUF, based in Oslo. The bank calls it "our most flexible savings account"; according to the bank the balance is available daily in any amount. This is how it differs from the bank's two other savings accounts:

• Sparkonto: 1.90% interest, unlimited fee-free withdrawals, no notice period.
• Sparkonto Plus: 2.00% interest, no notice period, 6 fee-free withdrawals per calendar year, then 0.50% of the amount withdrawn.
• Sparkonto 31: 2.80% interest, the highest of the three, fee-free withdrawals only with 31 days' notice, otherwise 1.50% of the amount withdrawn.

Each customer can open one Sparkonto, one Sparkonto Plus and one Sparkonto 31, so the accounts can be combined.

Interest rate

The rate is currently 1.90% a year from the first euro. It is variable and Bank Norwegian can change it. Interest is calculated on the actual number of days and credited on 31 December, or earlier if the account is closed. For deposits above EUR 1,000,000 the bank states a rate of 0.00%.

By comparison: among 43 instant-access and savings accounts on BankSorter (as of 15 October 2026), the Sparkonto ranks 32nd with 1.90%. The median is 2.25% and the best offer is Ikano Bank's Tagesgeld at 3.91%. This compares offers listed on BankSorter, not the whole market.

Withdrawals and fees

• Opening the account is free and there is no account maintenance fee.
• Deposits and withdrawals are free in unlimited number.
• No notice period and, according to the bank, no minimum deposit.
• You pay in by transfer to your IBAN, which you find in the app.
• Transfers to your reference account usually arrive within 1-2 banking days.

We did the maths

EUR 10,000 left for a full year at an unchanged 1.90%: EUR 10,000 × 1.90% = EUR 190 interest, gross before tax. On Sparkonto Plus at 2.00% it would be EUR 200, so EUR 10 more.

Whether Plus pays off depends on your withdrawals. Example: you withdraw EUR 500 twelve times a year. On the Sparkonto that costs EUR 0. On Sparkonto Plus 6 withdrawals are free and the other 6 cost EUR 500 × 0.50% = EUR 2.50 each, EUR 15 in total. That is more than the EUR 10 rate advantage.

Not for you if ...

• You hardly touch your money: the same bank's Sparkonto Plus (2.00%) or Sparkonto 31 (2.80%) pay more.
• The rate matters more to you than flexibility: 1.90% is below the median in our comparison (2.25%).
• You want to deposit more than EUR 100,000 with NOBA Bank Group: deposit protection does not cover more than that.
• You are looking for a savings account for a business: the savings accounts are for private individuals only.

Watch out for

• The rate is variable and Bank Norwegian can change it.
• Interest accrues continuously but is credited only once a year, on 31 December (or when the account is closed).
• Deposit protection is Swedish (Riksgälden): up to EUR 100,000 per customer at NOBA Bank Group AB (publ). A savings account with Nordax Bank counts towards the same limit.
• In certain cases Bank Norwegian may deduct provisional taxes from capitalised interest.

You can combine accounts: you may open a Sparkonto Plus alongside the Sparkonto. Transfers from the Sparkonto to Sparkonto Plus are free without limit; transfers the other way count towards the 6 free transactions of the Plus account.

Requirements and opening the account

You must be at least 18, live in Germany, and have a German mobile number and a German tax ID (Steueridentifikationsnummer). Identity is verified by VideoIdent in the Bank Norwegian app. The online application starts with your title, first and last name (as in your ID) and date of birth. The savings accounts are for private individuals only. You have a 14-day right of withdrawal after signing the contract.

To close the account, transfer the balance to your reference account in the app, then close the account under "Sparen". Accrued interest is also paid to the reference account. Customer service is available on 0800 7 238470 (Mon-Fri 10:00-16:00), in German or English.

Verdict

The Sparkonto is the choice for money you want to reach at any time without fees. At 1.90% it pays the lowest rate of Bank Norwegian's three accounts and sits below the median in our comparison. If you rarely withdraw, Sparkonto Plus pays 2.00%; if you can plan withdrawals a month ahead, Sparkonto 31 currently pays 2.80%.

As of 15 October 2026. Terms can change, so check them with Bank Norwegian before opening an account.