Your Instant Savings interest rate is changing
We’re writing to let you know that starting October 1, 2024, your Instant Savings account’s interest rate will change.
From this date, the new Instant Savings interest rates will be 3% p.a. for N26 Metal customers, 2% for N26 You customers, and 1.7% for N26 Smart and Standard customers.
no, I am metal and was told by email my rate will drop to 3 percent from Oct 1Will the 4% rate stay the same for metal? . I doubt it.
Literally just did the same a few weeks back.I literally paid for metal for a year only a month ago to get the higher savings rate.
The 4% always felt like it was a promo to attract funds and build out the premium client base. It was above almost every one of its competitors and so a scaling back was to be expected. Not the size of the cut, and the fact it's going to happen in one bite is indeed strange, and could loose them a good number of the clients paying for Metal. Surprising and possibly short-sited of them.That's a huge drop, and a strange decision in one go.
.. the same. About 2 weeks with metal. Still waiting for the card.I literally paid for metal for a year only a month ago to get the higher savings rate.
It may be worth trawling the terms and see if canceling is viable. Even if they charge x for the card or similar, you may be better off. I suspect if they dropped to 3 percent this time, it will happen again at a multiple of an ECB cut.... the same. About 2 weeks with metal. Still waiting for the card.
Will do.. someone here made a very useful excel sheet with the interests rates for 4% etc.. must find it..I have until Oct 1st with 4% and I think you can cancel and pay pro rata for the time.It may be worth trawling the terms and see if canceling is viable. Even if they charge x for the card or similar, you may be better off. I suspect if they dropped to 3 percent this time, it will happen again at a multiple of an ECB cut..
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