N26's Instant Savings Accounts: A Game Changer for Savers in Ireland
published date:21.03.2024
Who is N26? N26, headquartered in Berlin, is a renowned digital bank operating across Europe, serving over 8 million customers, including around 200,000 in Ireland. Known for its online-only banking model, N26 offers a modern mobile app through which customers conduct all their transactions.
What's on Offer?
N26's Instant Savings accounts provide customers with attractive interest rates:
- Standard, Smart, or You account holders can earn 2.8% interest.
- Metal account holders enjoy a higher rate of 4%, along with exclusive features and benefits. However, this account comes with a notable monthly maintenance fee of €16.90.
Opening an account is hassle-free, with no minimum deposit or setup fees. Customers can manage their savings conveniently through the N26 app, with interest paid out monthly to accelerate savings growth. Additionally, all deposits up to €100,000 are safeguarded by the German Deposit Protection Scheme.
How to Open a Savings Account? For existing N26 customers, opening an Instant Savings account is a seamless process:
- Log into the N26 app.
- Navigate to the 'Finances' tab and select 'Instant Savings.'
- Answer a few simple questions.
- Add funds easily from your main N26 account or via bank transfer.
The Competitive Edge
While other providers also offer attractive interest rates on instant-access savings, N26's proposition stands out due to its user-friendly interface, competitive rates, and full banking license, ensuring depositor protection. The absence of a maximum deposit limit appeals to savers with substantial balances and may exert pressure on competitors like Revolut to introduce similar offerings.
Explore Your Options For those considering their savings options, platforms like Trade Republic, Raisin, and Bunq offer alternative rates and features. However, N26's combination of competitive rates, accessibility, and robust banking infrastructure makes it a compelling choice for savers in Ireland.
Discover the Best Savings Accounts Explore a wide range of savings account options from various providers, including AIB, Bank of Ireland, PTSB, Trade Republic, Raisin, Bunq, and more, through our comparison tool on SaverStop.ie.
What's on Offer?
N26's Instant Savings accounts provide customers with attractive interest rates:
- Standard, Smart, or You account holders can earn 2.8% interest.
- Metal account holders enjoy a higher rate of 4%, along with exclusive features and benefits. However, this account comes with a notable monthly maintenance fee of €16.90.
Explore Your Options
For those considering their savings options, platforms like Trade Republic, Raisin, and Bunq offer alternative rates and features. However, N26's combination of competitive rates, accessibility, and robust banking infrastructure makes it a compelling choice for savers in Ireland.
Discover the Best Savings Accounts: Explore a wide range of savings account options from various providers, including AIB, Bank of Ireland, PTSB, Trade Republic, Raisin, Bunq, and more, through our comparison tool on SaverStop.ie.
How to Open a Savings Account?
For existing N26 customers, opening an Instant Savings account is a seamless process:
- Log into the N26 app.
- Navigate to the 'Finances' tab and select 'Instant Savings.'
- Answer a few simple questions.
- Add funds easily from your main N26 account or via bank transfer.
The Competitive Edge
While other providers also offer attractive interest rates on instant-access savings, N26's proposition stands out due to its user-friendly interface, competitive rates, and full banking license, ensuring depositor protection. The absence of a maximum deposit limit appeals to savers with substantial balances and may exert pressure on competitors like Revolut to introduce similar offerings.
Explore Your Options For those considering their savings options, platforms like Trade Republic, Raisin, and Bunq offer alternative rates and features. However, N26's combination of competitive rates, accessibility, and robust banking infrastructure makes it a compelling choice for savers in Ireland.
Discover the Best Savings Accounts Explore a wide range of savings account options from various providers, including AIB, Bank of Ireland, PTSB, Trade Republic, Raisin, Bunq, and more, through our comparison tool on SaverStop.ie.