Freistellungsauftrag

In English: Exemption order

A form (usually a click in online banking) that tells your bank how much of your saver's allowance to apply. Without it, the bank deducts tax from the first euro and you can only reclaim it in your tax return.

Where it comes up

All terms in the glossary
These are estimates to help you plan – not financial, tax or legal advice. They use German tax rules for 2026, assume steady returns and interest rates, and simplify where the page says so. Check the figures with your bank or a tax adviser before you decide.