It’s a common thread among our customers that it’s a priority to save money. Whether it’s saving up for something on their wishlist or just saving for the sake of saving, customers like you have expressed the need for a savings product. Today we’re proud to announce the first such product - a fixed term high interest savings account that offers interest rates as high as 1,48% that you can get through an easy paperless signup process.
How can N26 offer high interest rates?
We’ve often searched for the best savings account, and found that many offer low interest rates or make it hard to sign up. N26 Savings makes it possible to open an international savings account in a seamless, paperless process. We work with our partner WeltSparen to provide a marketplace of different banks across Europe that offer high interest rates.
What is a fixed savings account?
A fixed savings account means you make a one-time deposit for a fixed amount of time, and it collects interest over that time. You can’t withdraw the money until that time period ends, but you’ll get your deposit plus fixed interest back. It’s a classic “set it and forget it” scenario that makes it as easy and convenient as possible for you to store your money in a safe place and get it back with interest. Like every savings deposit in the EU, these savings plans are protected up to €100.000 according to EU law in all EU countries.
How does N26 Savings work?
- Choose how much you want to deposit into your N26 Savings account from a minimum of €2.000 to a maximum of €100.000.
- Choose how long you want it to be in the account from a minimum of 12 months to a maximum of 60 months.
- Choose which partner bank you want to open your account in, and the interest rate that bank is offering. Every bank is a trusted, hand-selected partner.
- We’ll show you the bank with the highest interest rate by default, but you can pick whichever one you like.
- Confirm your deposit directly from your phone.
- Write a letter to your future self that you’ll reopen when your term ends.
You can check on the status of your savings at any time, and see how your money has grown. Learn more about how to manage your savings in Germany in N26 Magazine.