The amount is the portion subject to charges (after deducting the freely available amount). The deposit rate is divided by 4 to obtain the early withdrawal rate. The days correspond to the remaining notice period, maximum 90.
Knowledge
Calculating early withdrawal interest
How early withdrawal interest is calculated for premature access to savings deposits.
Standard model: deposit rate/4, days/360 and at most 90 days. Contract mode: agreed rate, entered days and a 360 or 365 basis.
Early withdrawal interest formulaEarly withdrawal interest = Amount × (deposit rate / 4) × days / 360
Only the standard model uses the quarter-rate and 90-day cap. Contract mode uses the individual terms.
Standard model: deposit rate/4, days/360 and at most 90 days. Contract mode: agreed rate, entered days and a 360 or 365 basis.
There is no universal 90-day cap; it applies only to the standard model.
Standard model: deposit rate/4, days/360 and at most 90 days. Contract mode: agreed rate, entered days and a 360 or 365 basis.
Early withdrawal interest is deducted from the payout amount.
Knowledge
Legal background
Legal basis and framework for early withdrawal interest.
Section 21 RechKredV concerns accounting classification of savings deposits; rate, free withdrawals and notice follow the contract and terms.
Section 21 RechKredV concerns accounting classification of savings deposits; rate, free withdrawals and notice follow the contract and terms.
There is no universal 90-day cap; it applies only to the standard model.
Banks are not obligated to allow premature access.
The level of early withdrawal interest (1/4 of deposit rate) is industry standard but not legally mandated.
Some banks waive early withdrawal charges for small amounts.
Practice
Practical examples
For illustration only – your own calculation is what counts.
Premature withdrawal of EUR 10,000 at 2.5% deposit rate
A saver wants to withdraw EUR 10,000 early from their savings book. The deposit rate is 2.5% and the remaining notice period is 90 days. No amount is already freely available.
Result: The early withdrawal interest is approx. EUR 15.63. The applied rate is 0.625% (one quarter of 2.5%). The payout amount is EUR 9,984.37.
Partial amount already freely available — no charges
A saver wants to withdraw EUR 5,000. Of that, EUR 5,000 is already available without notice period. No early withdrawal charges apply.
Result: The amount subject to charges is EUR 0. No early withdrawal interest applies.
Partial amount freely available, remainder subject to charges
A saver wants to withdraw EUR 8,000. Of that, EUR 2,000 is already freely available. Only the remaining EUR 6,000 incurs early withdrawal interest at 2% deposit rate and 60 days notice period.
Result: The amount subject to charges is EUR 6,000. The early withdrawal interest is approx. EUR 5.00 at a rate of 0.5% for 60 days.
Notes
Common mistakes
Assuming the entire withdrawal amount is subject to charges
Up to EUR 2,000 per calendar month can be withdrawn without early withdrawal charges. Only the amount beyond that is subject to charges. Using the entire amount overestimates the costs.
Deduct the monthly free amount (usually EUR 2,000) — only the excess is subject to early withdrawal charges.
Not giving timely notice
Anyone who foreseeably needs money should give notice early. After the 3-month period expires, withdrawal is free of charge. Early withdrawal interest only arises with unplanned, immediate withdrawal.
When capital needs are foreseeable, initiate the 3-month notice period in time.
Confusing early withdrawal interest with penalty interest
Early withdrawal interest is not a penalty but compensation for the bank. It amounts to only 1/4 of the already low deposit rate. At current rates, the costs are often minimal (a few euros).
Calculate early withdrawal interest in advance — it is often so small that waiting for the notice period is not worthwhile.
FAQ
Frequently asked questions
What is early withdrawal interest?
Early withdrawal interest is a fee charged by banks when a saver wants to access their balance before the notice period expires. It compensates the bank for the shorter use of the money. The early withdrawal interest is deducted from the paid-out amount.
When does early withdrawal interest apply?
Whether charges apply follows from the savings contract and terms; the calculator assumes no automatic allowance.
How is the early withdrawal rate calculated?
Standard model: deposit rate/4, days/360 and at most 90 days. Contract mode: agreed rate, entered days and a 360 or 365 basis.
Does the 90-day cap also apply in contract mode?
No. Contract mode uses the entered days without an artificial 90-day cap.
Does the calculator recommend an early withdrawal?
Only the standard model uses the quarter-rate and 90-day cap. Contract mode uses the individual terms.
Is the entered freely available amount automatically EUR 2,000?
The freely available amount must be taken from the specific contract.
Do all banks calculate early withdrawal interest the same way?
For different terms, select Contract terms and enter the agreed rate, days and basis.
Can early withdrawal interest exceed the earned interest?
Theoretically no, since the early withdrawal rate (1/4 of the deposit rate) is always lower than the deposit rate itself. However, early withdrawal charges can exceed the interest for the remaining notice period if the savings book has existed for a longer time.
Limits
Limitations
Only the standard model uses the quarter-rate and 90-day cap. Contract mode uses the individual terms.
A free amount of EUR 2,000 is not automatically guaranteed by law; enter the contractual amount.
No tax calculation: Tax effects of early withdrawal interest (reduction of taxable interest) are not calculated.
Sources
Sources and references
§ 21 RechKredV — SpareinlagenBundesministerium der Justiz
Section 21 RechKredV describes features of certain savings deposits, not a uniform charge formula.
View sourceRetrieved: 09/28/2026 · Verified on: 09/28/2026 · Primary source
Bundesbank — Statistikrichtlinien zu SpareinlagenDeutsche Bundesbank
The Bundesbank explains statistical recording of early-withdrawal interest without prescribing one formula.
View sourceRetrieved: 09/28/2026 · Verified on: 09/28/2026 · Primary source
Sparkasse.de — Sparbuch und VerfügbarkeitDeutscher Sparkassen- und Giroverband
A concrete product example for monthly availability; the individual contract remains authoritative.
View sourceRetrieved: 09/28/2026 · Verified on: 09/28/2026
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