Overview
- Revolut launched the promotion on Tuesday, June 16, offering 3.51% TAE to new Spanish customers who register between June 16 and August 16 with the rate guaranteed until October 16, 2026.
- The promotional yield applies only to the first €25,000 per customer, pays interest daily, has no maintenance or cancellation fees, and deposits are protected up to €100,000 under the deposit guarantee scheme.
- After the promotion ends Revolut says returns will vary by the user’s subscription plan, with its free tier paying about 1.15% TAE and higher paid tiers offering up to roughly 2.27% TAE.
- Competitors have already increased offers — Trade Republic at 3.04% for new clients, ING a three-month 3% welcome deposit, and Bankinter and Openbank raising rates to about 2.50% — while big banks prefer targeted deposits and bonuses tied to payroll or customer links.
- The push follows the ECB’s recent rate rise that set the deposit facility at 2.25%, and savers should compare headline yields against caps, eligibility rules and the expected post-promotion rate before switching accounts.