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Revolut offers 5% savings rate for new customers
Student Finance

Revolut offers 5% savings rate for new customers

Revolut is offering a 5% savings rate for new customers who sign up before August 4. This deal allows customers to earn interest on their savings with no minimum balance requirement. The offer is open to new customers only.

By Ratio Report Editorial 2 min read Via Independent Money

Key takeaway

New Revolut customers can earn 5% interest on their savings with no minimum balance requirement until August 4.

  • The 5% savings rate is available to new Revolut customers who sign up before August 4.
  • There is no minimum balance requirement to earn the 5% interest.
  • The offer is limited to new customers only.

How the offer works

If you're a new customer, you can sign up for a Revolut account and start earning 5% interest on your savings immediately. There's no minimum balance requirement, so you can start earning interest with as little or as much as you like. The offer is open until August 4, so you'll need to sign up before then to take advantage of it.

Revolut is a popular digital bank that offers a range of features, including real-time exchange rates, a debit card, and mobile banking.

The 5% savings rate is a competitive offer, especially for students or young adults who may not have a lot of money to save.

What this means for students

For students, this offer could be a great way to start building up your savings. If you're planning to start uni in September, you could open a Revolut account and start earning interest on your summer earnings. For example, if you save £1,000 over the summer, you could earn £50 in interest by the time you start uni. This could help you cover some of the costs of uni, such as textbooks or living expenses.

However, it's worth noting that this offer is only available to new customers, so if you already have a Revolut account, you won't be eligible.

Source

Independent Money

Read original article (opens in new tab)

This article is based on reporting from Independent Money. Ratio Report provides context and analysis for UK students and young adults.

FAQ

Frequently Asked Questions

What is Revolut? +
Revolut is a digital bank that offers a range of features, including real-time exchange rates, a debit card, and mobile banking.
Is there a minimum balance requirement to earn the 5% interest? +
No, there is no minimum balance requirement to earn the 5% interest.
What if I already have a Revolut account? +
Unfortunately, this offer is only available to new customers, so if you already have a Revolut account, you won't be eligible.
How do I sign up for a Revolut account? +
You can sign up for a Revolut account online or through the mobile app. You'll need to provide some personal details and verify your identity.
What if I'm not a student? +
This offer is available to anyone who is a new customer to Revolut, not just students.
Revolut savings rate new customers

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