{"id":490069,"date":"2026-06-09T04:47:30","date_gmt":"2026-06-09T04:47:30","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/490069\/"},"modified":"2026-06-09T04:47:30","modified_gmt":"2026-06-09T04:47:30","slug":"revolut-launches-5-savings-rate-for-new-bank-customers","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/490069\/","title":{"rendered":"Revolut launches 5% savings rate for new bank customers"},"content":{"rendered":"\n

Competition in the UK<\/a> savings market is intensifying, as challenger bank Revolut<\/a> is offering a 5 per cent variable savings rate for new customers.<\/p>\n

The deal applies to new instant access savings accounts, featuring an initial promotional annual equivalent rate (AER) of 5 per cent until 4 December.<\/p>\n

Customers must sign up for an account before 4 August to be eligible. When the promotional rate ends, savings rates will revert to the ‘base rate’ of the customer’s deal, Revolut said.<\/p>\n

Balances above a \u00a325,000 threshold will also transition to other rates, depending on the plan, according to the bank. This follows Revolut’s launch as a licensed bank in the UK earlier this year.<\/p>\n

Albert Codorniu, general manager of savings at Revolut, said: \u201cImplementing this boosted 5 per cent rate is a commitment to passing tangible value back to our users.\u201d<\/p>\n

Terms and conditions will apply to the offer. The 5 per cent boosted rate is only eligible for new UK customers aged over 16, signing up to Revolut for the first time.<\/p>\n

Savers can also get some other 5 per cent savings deals on the market. Nationwide Building Society offers a savings rate of 5 per cent for its members, which is fixed for 15 months for people who are able to lock balances of up to \u00a310,000 away for the period.<\/p>\n

\"British British online bank Revolut has announced plans to invest 1 billion in France over the next three years and make Paris its headquarters for Western Europe (AFP\/Getty) <\/p>\n

The digital banking firm, <\/a>which recently secured its long-awaited full banking<\/a> licence in the UK, reported pre-tax profits<\/a> of \u00a31.7 billion, a substantial rise from \u00a31.1 billion in the preceding year.<\/p>\n

This financial milestone coincides with a 30 per cent expansion of its global customer base, now standing at 68.3 million.<\/p>\n

The company attracted an additional 16 million new retail customers, while its business client roster grew by a third to 767,000.<\/p>\n

Earlier this month, Revolut received regulatory approval for a full banking licence in the UK, nearly five years after its initial application.<\/p>\n

The company also applied for a banking licence in the US in March and currently operates as a licensed bank in over 30 of its 40 markets worldwide, underscoring its rapid global expansion and strategic push into regulated financial services.<\/p>\n","protected":false},"excerpt":{"rendered":"Competition in the UK savings market is intensifying, as challenger bank Revolut is offering a 5 per cent…\n","protected":false},"author":2,"featured_media":490070,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60,8581,69101,123624],"class_list":["post-490069","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ie","tag-ireland","tag-revolut","tag-savings-rate","tag-savings-rates"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/490069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=490069"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/490069\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/490070"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=490069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=490069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=490069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}