Calculate tax on bank interest and bond interest in Greece 2026. Interest income is taxed at a flat 15% withholding rate. See net interest after Greek tax.
Enter the gross interest earned and the deposit or bond value to see the Greek withholding tax and your net interest income.
Net interest received
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Withholding tax (15%)
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Gross interest yield
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Net after-tax yield
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Tax retained at source
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Your breakdown
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How interest income is taxed in Greece
Greek banks automatically deduct 15% from interest credited to deposit accounts and remit it to AADE. No action is required from the depositor for Greek accounts. Bond interest follows the same rule. This simplicity makes fixed-income investing straightforward from a tax compliance perspective, but the 15% rate does reduce the after-tax yield compared to dividends (taxed at only 5%).
Example calculation
A Greek resident holds a 12-month term deposit of 10,000 EUR at 2.5% annual interest, earning 250 EUR gross. The bank deducts 15% (37.50 EUR) and credits 212.50 EUR net. The after-tax yield is 2.125% on the principal.
Tips and considerations
Compare after-tax yields when choosing between deposits, bonds, and dividend stocks. Remember that Greek bank deposits up to 100,000 EUR per person per bank are protected by the Hellenic Deposit and Investment Guarantee Fund (HDIGF). For larger amounts, spreading across banks or investing in bonds provides different risk/return tradeoffs. Shop rates on the hellenic-bankassociation.gr comparison tools.
Frequently asked questions
What is the tax rate on bank interest in Greece in 2026?
Interest income from Greek bank deposits is subject to a 15% withholding tax deducted at source by the bank, under Article 64 of the Greek Income Tax Code (Law 4172/2013). This withholding is final for Greek resident individuals, meaning the interest does not need to be declared in your annual income tax return and no further tax is owed. The bank pays the 15% directly to AADE and credits the net interest to your account. The same 15% rate applies to interest from Greek government bonds and most corporate bonds listed on the Athens Exchange.
Is interest income from foreign bank accounts taxed in Greece?
Greek resident individuals are taxed on worldwide income. Interest received from foreign bank accounts or foreign bonds must be declared on Form E1 of the annual Greek tax return. The applicable rate is 15%, consistent with domestic interest. If the foreign country withheld tax on the interest, Greece allows a credit up to the Greek tax owed, preventing double taxation where a tax treaty applies. You should keep statements from foreign banks and report the gross interest and any foreign tax withheld on your Greek return.
Are Greek government bonds a good savings option after tax?
Greek government bonds (GGBs) offer yields that vary with the credit environment and maturity. After the 15% withholding tax, the net yield is 85% of the coupon. For example, a 10-year GGB with a 3.5% coupon gives a net yield of 2.975%. Compared to bank deposits, GGBs carry slightly more liquidity risk (you need to sell on the secondary market before maturity if you need funds). However, GGBs have the advantage of being explicitly backed by the Hellenic Republic and are available through brokerage accounts and through the Public Debt Management Agency (PDMA) platform.
How does the 15% withholding on interest compare to the 5% on dividends?
Interest income in Greece is taxed at 15%, which is three times higher than the 5% rate on dividends from Greek shares. This creates a structural incentive for income investors to prefer dividend-paying equities over fixed-income deposits. However, equities carry capital risk that deposits do not. Bonds and deposits are also treated differently in Greek inheritance and gift tax rules. For risk-averse savers who primarily want income with capital preservation, the 15% rate on interest is the cost of the lower-risk profile. Tax-efficient investors sometimes balance the two to manage overall portfolio tax drag.