Revolut and Norwegian Bank interest rate updates

Revolut and Norwegian Bank have implemented various changes to their savings account interest rates and deposit protections.

In mid-August 2026, Revolut announced it would end a promotional 3.51% TAE interest rate for new sign-ups on August 16, with rates eventually reverting to plan-specific levels between 1.25% and 2.27% TAE. Concurrently, Norwegian Bank updated its rates, increasing its standard account to 2.2% TAE while keeping its Plus account at 2.51% TAE.

By August 20, Revolut has positioned itself as a leader in the German call money (Tagesgeld) market. According to an evaluation by comparison portal Verivox, Revolut’s promotional rate of 4.25% per annum is currently the highest available in Germany, surpassing competitors like Chase, which offers 4% for the first four months.

This German offering applies to new customers on deposits up to 25,000 euros, with interest credited daily. To maintain the rate for the full four-month promotional period, users must perform at least three card transactions of at least 5 euros every 30 days. Following the initial 30-day grace period, failure to meet these activity requirements results in the rate reverting to standard levels. After four months, rates vary by subscription tier, ranging from 1.25% to 2.50%.

In a structural change, newly opened German call money accounts are covered by the statutory German deposit insurance scheme for up to 100,000 euros, as funds are held in trust with Deutsche Bank AG. Existing accounts remain under the Lithuanian deposit protection scheme via Revolut Bank UAB.