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Interest is compounded and paid daily. This means you earn 1/365th (or 1/366th in leap years) of the per annum (p.a.) interest rate on your closing balance every day. Any payable tax on the accrued interest will be deducted before the interest is paid to you.

The minimum threshold for interest payable is €0.01. If your net interest earned after taxes is less than €0.01 on a given day, no interest will be payable. The interest will begin accruing once we have your tax details (Tax ID number and church tax details) from the central tax authority portal.

You can review the Customer Privacy Notice for more information about how Revolut processes and protects your personal data. The first interest payment will be made on the next calendar day after we get your full tax details. However, you can always add or withdraw money in the meantime.

We have the right to change the per annum (p.a.) interest rate as per our Instant Access Savings Terms. If the rate is decreased, we'll let you know at least 15 days before the change by sending an e-mail to your registered email address.

If the rate is increased, we can make the change immediately and we aren't required to notify you. If you don’t agree to the new rate, you can terminate your Instant Access Savings as outlined in the T&Cs. To access information on notice periods, follow these steps in-app:

• Go to ‘Home’ on the bottom menu
• Below your balance, tap ‘Accounts’
• Select your Savings Account
• Tap 'Details' and then 'Terms & Conditions'

If you change your plan, your interest rate may change accordingly when the plan change comes into effect.