What is the tax on deposit interest in Greece?

Deposit interest in Greece is taxed at a flat rate of 15%. This tax is automatically withheld by the bank, so you receive the net interest amount.

How is deposit interest calculated?

You can choose simple interest (no compounding) or compound interest (monthly or annual compounding). The annual rate is applied over your chosen number of days using a 365- or 360-day year. Tax is applied to gross interest (default 15%).

Do I need to declare deposit interest on my tax return?

No, since the 15% tax is withheld at source by the bank, you don't need to include deposit interest in your annual tax return in Greece.

Deposit Interest Calculator

Calculation Parameters

Default is simple interest (no compounding). Choose compound for interest on interest.

Principal Amount (€)

Annual Interest Rate (%)

Interest type

Day count basis

We spread the annual rate using 365 or 360 days per year. Banks may use other conventions.

Tax rate (%)

Applied to gross interest (withholding). Default 15%.

Start Date

End Date

Period presets (from start date)

Results may differ from bank calculations due to different compounding and day-count conventions.

Calculation Information

Interest Formula

Gross = Principal × annual rate × (days ÷ day-count basis). Simple interest — no compounding.

Tax Information

Default withholding is often 15% in Greece — change the tax field for what-if scenarios
Tax is withheld at source by the bank
No additional declaration required for this income

Deposit Interest Calculation: See the Return on Your Money

Want to know how much money you'll earn from your savings? The interest calculator is the ideal tool to calculate the net return on a term deposit or savings account.

Interest Tax & Net Return

In Greece, interest from bank deposits is taxed at a rate of 15%. Our tool:

Automatically deducts tax from gross interest.
Shows the net amount that will be credited to your account at maturity.
Supports simple or compound interest and different day-count bases.

Compare Interest Rates

With interest rates constantly changing, calculating your return helps you choose the most suitable bank for your savings.

Important Notice

Disclaimer: Calculations and information are provided for informational and educational purposes only and do not constitute investment, financial, or legal advice. While we strive for accuracy, results may contain errors or be based on assumptions that may not apply to your situation. Use of these tools is at your own risk. We shall not be held liable for any financial losses or damages arising from the use of this data. Always consult with a certified professional before making any financial decisions.

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