N26 launches new Instant Savings account, offering French customers until 4% interest on savings for Metal customers
Today, the online bank N26 announced the launch of its new offer “N26 Instant Savings” in France, offering eligible Standard customers get 2.26% and Smart and You customers get 2.8% AER on deposits with no conditions of permanence, no minimum deposit amounts required, no additional fees for N26 Standard, Smart and You customers. The interest is earned on all unlimited balances. For N26 Metal customers, they will enjoy a 4% yield on their savings, which is one of the best savings offers they can find with a bank on the French market today.
“It’s exciting to launch a product that offers one of the most competitive rates in the French market. Both existing and new N26 customers will be able to earn interest on their savings (without minimum or maximum limits on deposits). Customers will be able to access their funds freely and without restrictions at any time. N26 Saving products will give customers more autonomy and opportunities to drive their finance more efficiently and of course for no additional fees”, underlines Jérémie Rosselli, N26 GM France & Benelux.
Customers will be able to earn 2.8% interest on their deposits held with N26 if they hold a personal N26 Standard, N26 Smart, N26 You account and meet local eligibility requirements, including being a resident of France with a French IBAN. For N26 Metal customers the interest rate will be 4%, assuring them to reach one of the best offers they could find in the French market. Last but not least, the interest is calculated or accrued daily and the paid out is monthly (1st day of the month) in order to give the largest autonomy N26 can to their customer in the way they love to manage their finance for their project.
“We have already launched this new way of offering Savings in Germany and other European markets where we are already the daily bank of a majority of our customers. We are very proud to now launch it in France and we are pretty confident that it will be an important step not only to attract new French customers but also to become the daily bank of more and more of our current customers in France with a French IBAN”, adds Jérémie Rosselli.
Easily accessible via the Finance tab of the N26 application, the new N26 Savings account functionality will be gradually rolled out to eligible customers on the French market, starting today. It will simply be necessary for each N26 customer in France to switch to a French IBAN if this has not already been done. After launching the Crypto product last March, N26 is complementing its portfolio of everyday banking services with this savings product to accelerate, on the one hand, its adoption as the main account, which is increasingly important to its clientele in France, but also to continue to make new consumers want to discover a new way to manage their everyday banking with the N26 application.
It is also a new additional step to ensure overall profitability in a sustainable manner in the coming weeks for the Berlin company. The development of the N26 banking offer is not finished since N26 customers in France will have the pleasure of discovering new features and services between now and this summer and the next school year.
More information about N26 Instant Savings can be found here.
Reminder The money at N26 accounts - including N26 Instant Savings - are protected up to EUR 100,000 by the German Deposit Protection Scheme
About N26
N26 is Europe’s leading digital bank with a full German banking license. It offers simple, secure and customer-friendly mobile banking to millions of customers in 24 markets across Europe. N26 processes over 100bn EUR in transactions a year and currently has a 1,500-strong team of more than 80 nationalities. The company is headquartered in Berlin, with offices in multiple cities across Europe, including Vienna, Paris, Milan and Barcelona. Founded by Valentin Stalf and Maximilian Tayenthal in 2013, N26 has raised close to US$ 1.8 billion from some of the world’s most renowned investors.
Website: n26.com | X: @n26 | Facebook: facebook.com/n26 | YouTube: youtube.com/n26bank
N26 Press Contact
press@n26.com