N26 announced that new Metal customers will benefit from an ECB-linked interest rate, currently 2.75% per annum, on their Instant Savings.
N26 Instant Savings reportedly comes with “no additional costs, no deposit limits, and full flexibility to withdraw funds at any time.”
With an N26 Metal subscription, new customers are now able to take advantage of one of the “highest” interest rates, making it a competitive choice for growing savings while benefiting from various features of the N26 Metal plan.
To take advantage of this offer, new N26 customers should “select an N26 Metal plan when they register for their account.”
After their account is open, they may start growing their savings in a few taps by opening their “Instant Savings” account within the N26 app.
From there, they can instantly transfer funds “between their Main Account, Spaces, and their Instant Savings account.”
Interest income is calculated daily based “on the balance in the N26 Instant Savings account and is paid out at the beginning of the following month.”
All funds held with N26, including those in N26 Instant Savings accounts, are protected “up to EUR 100,000 per customer by the German Deposit Protection Scheme.”
N26 Offers Instant Savings with ECB-Linked Interest Rate.
Valentin Stalf, Founder and CEO of N26, said:
“This new offering as well as our recently introduced free trading service are a testament to our commitment to providing our customers with the best tools to manage their finances and reach their goals. They no longer have to worry about how to save; it’s simple, transparent, and aligned with the current ECB rate.”
In addition to the “competitive” interest rate, the Metal plan includes a range of premium benefits, such as “a stainless steel debit card, a comprehensive premium insurance package, and a dedicated customer support phone line for quick and efficient assistance.”
This offer is available to eligible N26 Metal customers “in 15 markets: Austria, Belgium, Estonia, Finland, France, Germany, Greece, Ireland, Latvia, Lithuania, Luxembourg, the Netherlands, Portugal, Slovakia, and Slovenia.”
As covered, N26 is Europe’s digital bank with a “full” German banking license.
It offers mobile banking to customers in 24 markets across Europe.
N26 says it processes over “140bn EUR in transactions a year and currently has a 1,500-strong team of more than 90 nationalities.”
The company is headquartered in Berlin, with offices in multiple cities across Europe, “including Vienna, Paris, Milan and Barcelona.”
Founded by Valentin Stalf and Maximilian Tayenthal in 2013, N26 has raised close to “$ 1.8 billion from some of the world’s investors.”