Need a hand?

Just pop your question below to get an answer.

Topics
Personal · Accounts · Savings Accounts

Earning interest with Savings

What is the interest rate?

The interest rate on your Savings account depends on your plan. If you change your plan, your rate will change accordingly when the plan change comes into effect. For more info, see our Instant Access Savings (powered by ClearBank) Terms and Savings Vaults Terms.

The Annual Equivalent Rate (AER) shows the amount of interest you'd earn in a year, taking into account daily compounding. This allows you to compare rates with a different compounding schedule.

You can see the AER under your savings account balance in-app by tapping 'Info' and viewing the 'Deposit Information' or 'Summary Box' document.

Why is the interest rate different depending on the partner?

We always negotiate the best possible rates for our customers. However, our bank partners offer their own competitive rates, which may differ. Customers are able to choose the best rates — see this article — while keeping other factors such as maximum deposit amounts in mind. See this FAQ for more.

How is the interest calculated and paid?

Interest is accrued and paid daily. While interest accrues daily, the minimum threshold for interest payable is GBP 0.01; this means interest may not be paid to your savings every day (until net interest becomes at least GBP 0.01). This is the only case where the interest payout would be postponed.

Funds must arrive at the partner bank before starting to earn interest. Funds usually arrive on the next business day after sending.

For example, a deposit made on Friday settles by Monday, and interest begins to accrue from Tuesday. For GBP savings with Clearbank, your funds settle immediately in most cases and start accruing interest from the next calendar day.

Can the interest rate change?

We may adjust interest rates on your Savings account as explained in our Instant Access Savings T&Cs and Savings Vaults T&Cs. We'll notify you before any decrease, but we may not notify you before increases happen. To view notice periods in the Revolut mobile app:

  • Go to 'Home' on the bottom menu
  • Below your balance, tap Accounts
  • Select your Savings account
  • Tap 'Info'
  • Tap 'Documents' or 'Summary Box'
  • Select 'Deposit Information'

You can also review our partners terms for further information on your Savings accounts (ClearBank T&Cs and Flagstone T&Cs).