Digital bank N26 today announced the launch of its savings account in Portugal, where customers can earn up to 4% interest per annum on their savings, with no deposit limits and no additional cost.
Thus, N26 Metal customers (costing €16.90 per annum) will receive an interest rate of 4% per annum, while customers with a free N26 Smart and You or N26 standard account (€9.90 and €4.90, respectively) will receive an interest rate of 2.8% per annum. On their deposits.
To activate, just a few taps on the N26 app, and you can move your money between your interest-bearing savings account and your main account at any time.
Interest income is calculated daily based on the balance in the N26 Savings Account, taking into account any funds moved into the account on that day (in and out) and paid at the beginning of the following month.
This product will also be available to customers in 12 other markets across Europe, including Austria, Belgium, Estonia, Finland, Greece, Ireland, Latvia, Lithuania, Luxembourg, the Netherlands, Slovakia and Slovenia.
“Thanks to our pan-European business model, we are able to bridge the gap in fragmented interest rate offers that can vary significantly across multiple markets. We are pleased to now be able to offer highly competitive interest rates to clients in These markets access their savings, alongside our everyday banking and investment products.”
The digital bank also emphasizes that all funds are protected up to €100,000 per customer through the German Deposit Protection Scheme.
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