What Does a Rental Security Deposit Account Cost?
A rental security deposit account is meant to provide security, but depending on the bank, it can be surprisingly expensive. While some institutions manage the account free of charge, others charge fees for opening, administration, or release.
This article shows which fees a rental deposit account can incur, which additional costs are often overlooked, and how current providers differ on price.
Key Facts About Rental Security Deposit Account Costs – At a Glance
- A rental deposit account can incur one-off opening fees, ongoing account charges, and extra fees for individual services.
- In the examples we currently reviewed, opening fees alone range from 0 to 69 euros.
- An opening fee of 0 euros does not automatically mean the account is free overall. Ongoing and later fees also matter.
- Additional costs can arise, for example, when the tenant or landlord changes, for paper statements, or for certain services.
- With heykaution, landlords and tenants pay no fees.
- Interest and fees should be considered separately, because a higher interest rate does not automatically offset existing costs.
What Does a Rental Security Deposit Account Cost in Practice?
Costs differ clearly depending on the provider and fee model. In the offers we currently reviewed, one-off opening fees alone range from 0 euros at heykaution to 69 euros at PSD Bank München eG. Further charges may apply, for example for account changes or sending statements.
A rental deposit account should therefore not be judged by the one-off opening fee alone. Depending on the fee model, further costs can arise during the term or when later changes are made. Total costs are what matter for a useful comparison.
The same items keep appearing:
- one-time fees for account opening
- annual account management fees
- costs for issuing the pledge declaration
- fees for release or account closure after moving out
With heykaution, landlords pay no opening, account-management, or release fees. The rental deposit account is set up and managed entirely digitally.
What Types of Costs Can a Rental Deposit Account Incur?
Total costs are made up of different fees depending on the product. These cost items in particular should be checked before opening an account:
These include:
Opening Fees
A one-off charge for setting up the rental deposit account.
Account Management Fees
Some account models can also charge ongoing fees for account management during the term.
Changes, Pledge, or Release
Additional costs can arise if, for example, a tenant or landlord is changed, a pledge is processed, or the deposit is released.
Service and Documents
Paper statements, replacement documents, or other extra services can also be chargeable.
None of these fees are legally required. They reflect the bank's internal processes rather than real added value for the customer.
Provider Cost Comparison
To make the price differences more tangible, the following examples show how differently rental deposit accounts are priced at individual providers.
Example 1: Commerzbank
- Opening:
- 59 €
- Paper statements:
- EUR 0.94–1.35 per statement
- Total costs:
- from 59 €
Example 2: Volksbank Darmstadt Mainz
- Opening:
- 40 €
- Tenant/landlord change:
- 40 €
- Total costs:
- from 40 €
Example 3: heykaution (digital)
- Opening:
- 0 €
- Account management:
- 0 €
- Release:
- 0 €
- Total costs:
- 0 €
As of September 2026. Based on publicly available pricing and product information from the providers. Terms may change at any time.
The examples show that the opening fee is not the only factor. Depending on the provider, paper documents or later account changes can also cause additional costs.
Why pay fees when you can get it for free?
Open a rental deposit account with heykaution in just a few minutes.
Do Interest Rates Still Play a Role Today?
In short: hardly. Interest rates on deposit accounts are in ranges that are symbolic at best. The bottom line is that the financial effect is usually so small that it doesn't really interest tenants or landlords. What's more crucial is how uncomplicated the whole thing runs and whether you end up paying more fees than necessary.
Who Bears the Costs – Tenant or Landlord?
The basic rule is: Whoever opens the rental security deposit account also bears the incurred costs.
This sounds trivial but causes misunderstandings in practice time and again. Some landlords expect the tenant to set up the account, others see it the other way around. With digital models, this question disappears because there are simply no costs.
What Costs Are Often Overlooked?
Many people still keep the opening fee in mind. What often gets lost, however, are the peripheral areas: the final release document, for example, which some banks charge separately. Or the time loss from branch visits when documents need to be checked again. Coordination between landlord and tenant can also eat up time. Especially when documents are missing or need to be corrected multiple times.
Digital providers bypass most of these stumbling blocks simply because work processes are automated. No appointments, no paper, no additional costs.
When Is a Rental Deposit Account Really Free?
An opening fee of 0 euros is not enough for a full cost comparison. What matters is whether no additional fees arise during administration or later release.
Landlords and tenants should therefore check opening, account management, account changes, documents, and release or closure in particular. With heykaution, landlords and tenants pay no fees.
Anyone who also wants to compare interest rates, target groups, and other terms will find them in our Rental Deposit Account Comparison 2026.
Frequently Asked Questions About Rental Security Deposit Account Costs
Published on 16 January 2026Last updated on 22 September 2026