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Revolut accrues and pays you interest on your savings balance daily. However, as per local tax laws, we're required to withhold 33% of your interest income as DIRT (Deposit Interest Retention Tax) and remit it to tax authorities.

Interest accrues daily, but if your net interest is less than 0.01 in the corresponding savings currency, it won't be paid until the cumulative interest exceeds this amount.

Rates are variable per plan. For more details about the tax on your Instant Access Savings, read this FAQ.

Consider a balance of €1,000 with a 2.5% per annum (p.a.) interest rate, compounded daily, and subject to 33% tax withholding:

• Interest accrued: €1,000*2.50%/365=€0.0684932
• Payable interest: €0.06(remaining keeps accruing until it becomes €0.01)
• Tax accrued: €0.06*33%=€0.0198000
• Tax withheld: €0.01(remaining tax keeps accruing until it becomes €0.01)
• Interest paid after tax: €0.06-€0.01=€0.05
• New balance: €1,000+€0.05=€1,000.05

• Interest accrued: 1,000.05 * 2.50 %/365 = €0.0684966
• Payable interest: 0.06 + 0.01 = €0.07 (with accrued interest from days 1 and 2)
• Tax accrued: 0.07 * 33% = €0.0231000
• Tax withheld: 0.02 + 0.01 = €0.03 (with accrued tax from days 1 and 2)
• Interest paid after tax: 0.07 - 0.03 = €0.04
• New balance: 1,000.05 + 0.04 = €1,000.09