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Tax on Instant Access Savings

As required by Romanian law, we'll make a 10% tax deduction on any interest before it's credited to your Instant Access Savings. The Romanian Government sets the tax withholding rate and may change it at any time.

The deductible tax needs to reach RON 0.01 before we begin withholding this tax. In cases where it's less than this amount, we'll continue to accrue your interest until it reaches RON 0.01 (at which point it's deducted from your next interest payment).

As a result, the tax rate for each interest payment may be different. To see the tax withheld on your total interest payments, you can use your combined savings statements. Read this article to learn how to calculate interest and tax on Instant Access Savings.

Personal tax responsibility

If you have any questions regarding your tax responsibilities, you should seek independent advice from a professional tax adviser.

For more information, refer to our Instant Access Savings Terms.

Instant Access Savings statement

Generate your Instant Access Savings account statement using this link.

Changes since the Revolut Romanian branch launch

Revolut has now opened a local branch in Romania and the migration of customer's accounts to this branch will be a staged roll-out until the end of the year. That's why Instant Access Savings are no longer provided by the Lithuanian entity, but by the Romanian branch of Revolut Bank UAB instead.

For accounts that haven't been migrated yet, as required by Lithuanian law, we make a 15% tax deduction on any interest before it's credited to your Instant Access Savings. Then, we report and remit the taxes withheld to the Lithuanian authorities.

However, after your account is migrated, we will make a 10% tax deduction on any interest before it's credited to your Instant Access Savings as is required by Romanian law. We then report and remit the taxes withheld to the Romanian tax authorities.