Revolut introduced interest-bearing savings accounts in PLN

Wojciech Boczoń2022-01-11 07:17analyst at Bankier.pl

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2022-01-11 07:17

Revolut introduced interest-bearing savings accounts in PLN
Revolut introduced interest-bearing savings accounts in PLN
/ Revolut

Revolut has made it possible for customers in Poland to invest their savings in their native currency. The interest rate ranges from 0.95 percent. up to 1.4 percent depending on the plan the client is using. The funds are under the protection of the Belgian guarantee fund.

At the end of last year, Revolut introduced deposits in euro to its offer. Their interest rate, depending on the tariff plan, ranges from 0.1%. up to 0.3 percent Now fintech is expanding its offer with savings accounts in PLN. They are available in the “Safes” tab of the mobile application. As in the case of deposits in euro, also here the interest rate depends on the plan used by the client. In the case of the free plan, Standard Revolut offers 0.95 percent, for the Plus plan – 1 percent, for Premium – 1.2 percent, and for Metal – 1.4 percent.

Savings accounts kept as part of “Safes” do not require a minimum payment. There are also no upper deposit limits. Money can be withdrawn at any time and capitalization occurs daily. The guarantee of deposits is provided by the Belgian guarantee fund (the funds are deposited in Aion Bank, with which Revolut cooperates). As in the case of the Polish BFG, money up to 100,000. per capita euro are fully protected.

Application users can transfer funds to Vault vaults automatically, such as rounded to the nearest total amount from daily payments. They can also set up a periodic top-up of safes, or deposit funds at one time. Revolut customers can convert their existing safes into interest-bearing deposits with a few clicks.

Safes are a product that Revolut launched in 2018. According to the company, since then customers have already set up more than 3 million lockers and every day they install about 9,000 new ones. Until today, Revolut customers have deposited a total of over 700 million euros in their safes. Polish Revolut customers approx. 40 percent. they keep funds in the Polish currency.

Source:
Wojciech Boczoń

Banking expert. Author of comments, guides, articles and reports on banking addressed to both the industry and its customers. Managing editor of the industry website PRNews.pl. Author of the series of reports “Polish banking in numbers”. Journalist of the Year 2013 according to the Chapter of the 9th Congress of Electronic Economy at the Polish Bank Association. Twice nominated for the Journalism Award. Marian Krzak and the winner of this award in 2014. Finalist of the Press Club Polska Award for Economic Journalism for 2019.

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