Santander Tagesgeld

Introduction

Santander Tagesgeld is aimed at savers who want a rate well above the market average for a limited period while still being able to access their balance flexibly. The offer is particularly suited to new customers who have not held a Santander savings account in the past twelve months.

Interest Rate

The regular rate is 0.30% p.a. For newly opened accounts, however, Santander grants a promotional rate of 2.75% p.a. for the first four months. This promotion applies to accounts opened from 7 May 2026 onward and is explicitly reserved for new customers who have not held a Santander savings account in the past twelve months. After the four months, the rate reverts to the variable standard rate of 0.30% p.a.

Terms

There is no minimum deposit and, according to the bank, no limit on the deposit amount. Account management is free of charge and conveniently handled via MySantander online banking or the Santander app. The balance is available daily. A checking account with Santander is not mandatory; however, a reference account is required for withdrawals, which can be a Santander checking account but does not have to be.

Pros and Cons

• Promotional rate of 2.75% p.a. for the first four months
• No minimum deposit, no limit on the deposit amount
• Free account management via online banking and app
• Daily availability of funds
• No checking account with Santander required

Verdict

Santander Tagesgeld pays off mainly for new customers who benefit from 2.75% p.a. in the first four months. After that, the rate drops significantly to the regular 0.30% p.a., which is low by market standards. Anyone leaving money with Santander beyond the promotional period should realistically expect an effective rate much closer to 0.30% than to 2.75%, and should consider switching providers once the promotion ends.