Klarna Directly Enter Irish Savings Market With 2.30% Instant Access

L

Lightning

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Klarna have entered the Irish savings market directly for the first time. (Klarna are also still available via Raisin.ie).

Instant access account paying 2.95%. Details here: https://www.klarna.com/ie/flex-savings/

You can open 3 accounts to segregate savings.

No tax taken at source.

No minimum balance.

Interest paid monthly.

Term deposit products launched too which are here: https://www.klarna.com/ie/fixed-savings/

The instant access product rate is good. Highest 4 year term deposit rate on the market. And close to the highest 3 year term deposit rate. But not as great a rate with shorter terms.
 
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Anyone used these through Raisin in the past? How was the experience?
 
Yes, used through Raisin. No issues but you don't interface much with individual banks as it's all via the raisin platform
 
Only the 2.83% available on Raisin as of this morning.
Edit: I see that is clearly indicated on Best Buys.
 
That's great news. I hope more banks will follow. I have used Klarna on Raisin and they have been fine to use. Thanks for the update @Lightning
 
Yeah I set up in five minutes too and added funds from N26 which were instant transfers. Time to cancel the metal membership with N26.
Thanks OP for bringing this to our attention.
 
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Klarna seem to pay the same rate in all European countries that they operate. This rate change is effecting all their direct European customers.

Coincidence that this rate change has occurred just after launching here / understandable that cuts are occuring post ECB cut, albeit it's a slightly larger cut.

I will update the best buys later.
 
Was about to open an account with Klarna when it was at 2.95% but will stick with my current combination of Advanzia at 3.4% and Trade Republic at 2.75%.
 
Alkers86 said:
How much hassle is it to declare these kind of savings to revenue for DIRT as a PAYE earner?
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Pretty straightforward if you keep the your Deposit Interest (excluding DIRT) below €5,000 in total. If you exceed that yo need to register for income tax and complete form 11 which is certainly more cumbersome.
 
Freelance said:
Pretty straightforward if you keep the your Deposit Interest (excluding DIRT) below €5,000 in total
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Is it definitely €5K net of DIRT that causes you to become self-assessed? I always assumed that any non-PAYE income of €5K+ gross caused this to happen?
 
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