Klarna Locked Savings.

Klarna Locked Savings is our savings account that lives in the Klarna app. It makes signing up, saving, and tracking your money easy.

You can open as many savings accounts as you need if you are a German resident and at least 18 years old.

To open your Klarna Locked Savings:

• You need a Klarna Bank Account. It only takes a few minutes to sign up and there is no paperwork needed – it’s all online and easy to use.

• You get a German IBAN with your Klarna Bank Account, so you can transfer money to it from any other bank account. It takes 1 to 3 business days.

• Once you’ve topped up your Klarna Bank Account, go to the Savings section, choose your preferred term, type the amount you want to lock in with Klarna Locked Savings, and you are all set!

Locked Savings accounts are always paired with a Klarna Bank Account. You must open a Klarna Bank Account to start saving with Klarna Locked Savings.

There are no fees for Klarna Locked Savings accounts, nor for creating and maintaining a Klarna Bank Account.

For Locked Savings accounts with a term of 1 year or less, your interest is paid out when the account matures.

Interest is paid out every year for terms longer than 1 year and then in a final payment when the account matures.

The easiest way to submit your tax exemption order is with the Klarna app. You can find it in your Klarna Bank Account settings.

You can also submit exemption orders using our PDF form.

Please contact our customer support team if you have more questions about tax exemption orders.

The interest rate for Klarna Locked Savings is fixed at the beginning of the term and is guaranteed for the entire term length.

Klarna, as a Swedish credit institution, is covered by the Swedish deposit guarantee scheme. This means that funds up to 100.000 € (or more for certain deposited funds) per individual (across all their accounts) are protected by the Swedish Deposit Guarantee Scheme*.

*The account is covered by the Swedish deposit guarantee scheme in accordance with a decision by the Swedish National Debt Office. The maximum compensation to each customer is 100.000 € and the National Debt Office will make the compensation available for payment within 7 business days of the date the right to compensation commenced.

If you’re using our browser-based offer, you cannot close it or switch it to Locked Savings in the Klarna app.
If you have questions, you can reach us via the hotline or email listed in your application letter and contract confirmation.

You can also open an additional Klarna Locked Savings account in the Klarna App.

If you filled out a form and sent it to us by post, you opened a Klarna fixed-term account (Festgeld). These accounts are not visible in the Klarna app, but you can always reach us via the hotline or email listed in your application letter and contract confirmation you received by post.

If you signed up for Klarna Locked Savings (Festgeld+), you’ll see your balance and timeline in the “Savings” tab in the Klarna app. Learn more.

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