Sparkonto 31

In short: Sparkonto 31 currently pays a variable 2.80% from the first euro, the highest rate of Bank Norwegian's three savings accounts. You can only withdraw fee-free with 31 days' notice, though; an instant withdrawal costs 1.5% of the amount. It suits savings whose withdrawal you can plan a month ahead.

What is Sparkonto 31?

Sparkonto 31 is a variable-rate deposit account from Bank Norwegian, a brand of NOBA Bank Group AB (publ) NUF, based in Oslo. The "31" is the notice period: a fee-free withdrawal is executed 31 days after you order it. Bank Norwegian offers three savings accounts in Germany, which differ as follows:

• 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• Sparkonto Plus: 2.00% interest, no notice period, 6 fee-free withdrawals per calendar year, then 0.50% of the amount withdrawn.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2.80% interest, the highest of the three, fee-free withdrawals only with 31 days' notice, otherwise 1.50% of the amount withdrawn.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 2.80% a year from the first euro. Bank Norwegian calls it "our best savings rate": it is 0.80 percentage points above Sparkonto Plus (2.00%) and 0.90 percentage points above the Sparkonto (1.90%).

The rate is variable. 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), Sparkonto 31 ranks 18th with 2.80%, above the median of 2.25%. 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 are unlimited. You order withdrawals in the Bank Norwegian app.

• With 31 days' notice: free. The bank executes the transfer after 31 days or on the next banking day, and the money usually arrives 1-2 banking days later.
• Without notice: 1.5% of the amount withdrawn.
• According to the bank there is no maximum withdrawal amount.

We did the maths

Say you suddenly need EUR 10,000 and withdraw it without notice: EUR 10,000 × 1.5% = EUR 150 in fees. The same withdrawal costs EUR 0 from the Sparkonto. From Sparkonto Plus it is free as long as you have not used up your 6 free withdrawals for the year, otherwise EUR 10,000 × 0.50% = EUR 50.

Set that against the rate advantage: EUR 10,000 left for a full year at an unchanged rate earns EUR 10,000 × 2.80% = EUR 280 interest, gross before tax. On Sparkonto Plus it would be EUR 10,000 × 2.00% = EUR 200, so the advantage is EUR 80 a year. A single instant withdrawal of the full sum, at EUR 150, costs almost twice that annual advantage.

Not for you if ...

• You want to pay unexpected expenses from this money: without 31 days' notice every withdrawal costs 1.5%.
• 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: Bank Norwegian offers its savings accounts to private individuals only.

Watch out for

• The 31 days run from the moment you order the withdrawal in the app, plus 1-2 banking days for the money to arrive.
• 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.

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

Sparkonto 31 makes sense for money whose withdrawal you can plan a month ahead: then you get 2.80%, the highest of Bank Norwegian's three rates, without fees. It is not an emergency fund. For that, the Sparkonto (1.90%, unlimited free withdrawals) or Sparkonto Plus (2.00%, 6 free withdrawals a year) fit better, and all three can be held side by side.

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