Earning interest with instant access Savings
What is the interest rate?
The interest rateon your instant access Savings will depend on your plan.
Your annual interest rate (p.a.) is used to calculate the interest earned before taxes. The Annual Equivalent Rate (AER) shows the amount of interest you'd earn in a year before taxes, taking into account daily compounding. This allows you to compare rates that may have a different compounding schedule.
You'll only see the AER under the balance of your instant access Savings. You can see both rates by tapping on 'Details', then opening the 'Deposit Information' document.
How is the interest calculated and paid?
Interest is compounded and paid daily. This means you earn 1/365th (or 1/366th in leap years) of the annual interest rate (p.a.) on your closing balance every day.
Any required 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.
Can the interest rate change?
Rate charged by Revolut
We have the right to change the annual interest rate as per our Terms and conditions. If the rate is decreased, we'll let you know at least 15 days before the change. If the rate is increased, we can make the change immediately and we aren't required to notify you.
Changing plan
If you change your plan, your interest rate will change accordingly when the plan change comes into effect.