Best savings accounts in Luxembourg

Checked on 28 September 2026. 11 savings accounts, term deposits and money market funds from 10 providers accept someone resident in Luxembourg. The three highest rates:

• Trading 212, Interest on cash (Trading 212 EU GmbH) at 4.20%, instant access, no minimum, deposit guarantee: Germany, up to €100,000.
• bunq, Easy Savings at 3.01%, instant access, no minimum, deposit guarantee: Netherlands, up to €100,000.
• Trade Republic, Interest on cash at 3.00%, instant access, no minimum, deposit guarantee: Germany, up to €100,000.

8 of the 11 are covered by a national deposit guarantee scheme. The best rate you can withdraw at any time is 4.20% at Trading 212, and the best fixed term is 2.50% at BluOr Bank. Rates are variable unless the entry says the term is fixed.

What to know if you live in Luxembourg

Deposits are covered up to €100,000 per depositor per bank, and temporary high balances up to €2,500,000 in total for money credited less than twelve months before deposits became unavailable, where it comes from a transaction on your private home or from a life event such as a marriage, a divorce, retirement, dismissal, disability or death (FGDL).

Interest paid by a Luxembourg paying agent carries the 20% retenue libératoire, which is final and needs no declaration. It applies to current accounts paying more than 0.75% and to savings interest above €250 per paying agent per year, so the exemption multiplies across banks rather than being one personal allowance. Interest from a paying agent elsewhere in the EEA is outside it: you either declare it at progressive rates or opt for the same 20% by filing form 931 (guichet.public.lu).