It’s a bit of a bolt from the blue in the world of online banking. This Thursday, October 24, Revolut is launching its first savings account with very attractive features for its users. The opportunity for us to take stock of this new opportunity.
Details of this Revolut offer
The British fintech, which has 3.5 million customers in France, therefore draws up a savings account with a daily interest rate of up to 3.25% gross on deposits, paid daily. Best of all, no fees apply to withdrawals and deposits of funds.
In detail, the following gross annual rates apply:
- 1% for Standard and Plus plans
- 1.5% for the Premium plan
- 3% for the Metal plan
- 3.25% for the Ultra plan
Finally, note that a maximum balance of 100,000 euros is applied to this booklet, while no minimum is required.
How does the Revolut savings account compare to the Livret A?
For the moment, the remuneration rate for Livret A is 3% net. It therefore turns out to be more profitable than Revolut’s offer which is at best 3.25% gross. On the other hand, it is expected that the Livret A rate will fall at the start of next year due to the reduction in inflation. We will therefore have to compare at this time to see which of the two is more interesting.
Simplify saving
Commenting on the news, Albert Codorniu, general manager of savings at Revolut, underlines: “We want to make Revolut the best option for everyday banking. With daily interest payments and the ability to withdraw funds secured by our approved bank at any time, we make saving simpler and more efficient than ever. »
Antoine Le Nel, Chief Growth and Marketing Officer at Revolut, agrees: “We simplify the way our users manage and save their money, by offering them different ways to grow their savings: investments, savings, lifestyle tools… we allow them to choose what best suits their lifestyle”.
He adds:
Today, one of our 3.5 million customers in France can, upon receipt of their salary, easily, intuitively and securely allocate part of it to their savings, while benefiting from very high returns. attractive quickly, without worrying about the accessibility of these funds. We will also continue to develop our range of savings and credit products, with Livret A and real estate credit in our sights.
How to subscribe to the Revolut savings account?
If you want to open a Revolut Savings book, here is the procedure to follow:
- Update the Revolut app to the latest version (10.47 and above)
- Click on “Accounts”.
- Tap “Add New”.
- Scroll down and click on “Savings and funds”.
- Choose “Savings Booklet”.
This announcement in any case confirms Revolut’s ambitions for the French market. The online bank has also planned to invest 100 million euros over two years in France, as we told you about previously.
