Interest that’s actually interesting

Instant Savings is available in the app for both new and existing eligible customers. Make sure you’re using the latest version of the N26 mobile app.

Eligible customers must have a personal or business N26 bank account with a Spanish IBAN, have a registered local tax identification number, and be a resident of Spain. Additionally, if you have renewed your identity document after opening your N26 account, you will need to contact us by chat in the N26 app to update your information. Please note that other security-related eligibility criteria may apply.

No. We offer the same interest rate to both new and existing eligible customers. All eligible customers who have a personal or business N26 Standard, Smart, You, or Metal account can open an Instant Savings account in their N26 app.

The interest you earn is automatically calculated and paid out to your Instant Savings account on the first day of each month.

Your interest is calculated daily at a rate of 2.26% AER (2.26% annual NIR), based on your Instant Savings account balance at the end of the day.

For example, if you maintain a daily balance of €15,000 in your Instant Savings account for a period of 12 months, you’ll earn a total gross interest of €339. Similarly, if there are 30 days in a month and your Instant Savings account balance remains €15,000 for the whole month, you’ll earn a total gross interest of €27.86 (€15,000 x 2.26% x 30/365) at the end of the month.

Instant Savings is located in the Finances section of your N26 app, no matter what kind of personal or Business account you have, premium or free account. If you’re an eligible N26 customer and Instant Savings doesn’t appear in this section, please make sure that your N26 app is updated and you’re using the latest version.

You may deposit as much money as you like into your savings account: you’ll earn interest on the total balance of your Instant Savings account.

N26 Instant Savings is a fully flexible easy-access savings account, so there are no penalties for withdrawing a part — or all — of your deposit before the end of the month. You won’t lose any interest that was already paid out, nor will you lose any interest that’s already been calculated for the previous days of the current month.

Your interest is calculated every day according to the current balance of your Instant Savings account — so once you make a withdrawal, you will simply earn less interest than before, because your savings account balance will be lower.

Simply defined, AER and annual NIR are measures of the interest rate you’ll earn on your savings in a year. NIR (Nominal Interest Rate) is the fixed percentage you’ll earn as agreed upon with your bank. AER (Annual Equivalent Rate), on the other hand, is the actual interest rate, including any bank fees and extra costs.

As Instant Savings is offered to N26 customers at no extra cost, the AER is the same as the annual NIR. In Spanish terms and conditions, AER and annual NIR are often called TAE (Tasa Anual Equivalente) and TIN (Tipo de Interés Nominal) respectively.

No, there are no minimum or maximum deposit limits for N26 Instant Savings. You can deposit as much money as you like into your easy-access savings account, and you’ll earn interest on the total balance of your Instant Savings account.

Yes, the interest you earn in your N26 Instant Savings account is taxable by the Spanish government. But no stress — we’ll automatically withhold and transfer this tax percentage to the authorities on your behalf every month, when you receive your earned interest.

We need your Spanish tax ID because when you earn interest on your savings, we're required to withhold and pay your taxes to the local tax authorities. Your Spanish tax ID number is your DNI (Documento Nacional de Identidad) if you’re Spanish, or your NIE (Número de Identidad de Extranjero) if you’re a foreign resident in Spain.

At the moment, only customers with a Spanish IBAN are eligible to open an Instant Savings account.

Yes, both customers with a personal and business N26 bank account are eligible to open an Instant Savings account, whatever tier subscription they have.

In Spain, the risk level of investment products is measured on a numerical scale from one to six. This means that the products marked as 1/6 are considered the safest, and those with 6/6 carry the most risk. As N26 is a member of the Deposit Guarantee Fund for Credit Institutions in Spain, all funds deposited into your N26 bank account — including Instant Savings — are always protected up to €100,000.