Digital bank N26 has announced the expansion of its Instant Savings accounts to 13 additional markets across Europe, providing customers with the opportunity to earn up to 4% interest per annum on their savings. This move marks a significant step in N26’s mission to enhance the financial well-being of millions of Europeans by offering innovative banking solutions.

Effective immediately, customers in Austria, Belgium, Estonia, Finland, Greece, Ireland, Latvia, Lithuania, Luxembourg, the Netherlands, Portugal, Slovakia, and Slovenia can benefit from the competitive interest rates offered by N26 Instant Savings accounts. These accounts come with no deposit limits and no additional costs, providing customers with flexibility and convenience in managing their finances.

Activation of the N26 Instant Savings account can be completed with just a few taps within the N26 app, allowing customers to seamlessly move funds between their interest-bearing Instant Savings account and their main account at any time. Interest income is calculated daily based on the account balance, considering any transactions made throughout the day, and is disbursed at the beginning of the following month.

N26 has introduced a tiered interest rate system for its Instant Savings account, offering 4% interest per annum to N26 Metal customers and 2.8% interest per annum to customers with an N26 Smart and You or free N26 standard account. These competitive rates apply to both new and existing customers, with no maximum limit on the amount of deposits eligible for the interest rates.

Valentin Stalf, CEO at N26, highlighted the bank’s commitment to providing consistent and competitive interest rates across various European markets. “Thanks to our pan-European business model, we can bridge the gap between fragmented interest rate offers that may vary significantly across multiple markets,” stated Stalf. “We’re pleased to be able to now offer customers in these markets highly competitive interest rates on their savings alongside our everyday banking and investing products.”

It’s important to note that all funds held with N26, including those in Instant Savings accounts, are protected up to EUR 100,000 per customer by the German Deposit Protection Scheme, ensuring the security of customers’ savings. This additional layer of protection enhances trust and confidence among N26 customers across Europe.