Instant Access Savings
(additional service of Revolut current account framework agreement)
This document contains a summary of the most important features of the Instant Access Savings demand deposit product. This document also applies to Revolut Kids & Teens Instant Access Savings and Joint Instant Access Savings.
This document was updated on 20.08.2026. If you have opened an Instant Access Savings Account before 20.08.2026, this document applies to your Instant Access Savings Account.
You can check the previous applicable versions of this document in the History section of this page.
Product data | |
Product | Savings Account (sub-account of the main current account) |
Bank | Revolut Bank UAB - Italian Branch Address: Via Dante 7, 20123 - Milano |
Product type | Demand deposit account |
Currency | EUR |
Term | Indefinite. The account can be closed at any time. |
Deposit amount | No minimum amount established. The maximum amount that can be placed in all of your personal Instant Access Savings at Revolut combined is EUR 5,000,000. In case you have several accounts with Revolut Bank UAB all your deposits held with Revolut Bank UAB are aggregated and the insurance coverage limit of EUR 100,000 applies to the total amount of your deposits. Please also note that some exceptions apply. More information can be found in the Deposit Insurance Information. |
Deposit start date | The date when the money is received in the Instant Access Savings. This happens immediately after you deposit funds from your current account to the Instant Access Savings. While we aim to process these requests immediately, there may be exceptional occasions where deposits are delayed due to operational reasons. If a delay occurs, we will provide updates through the Revolut app. |
Risks | |
Risk in the event of insolvency of the bank | Deposits held with Revolut Bank UAB are insured by the Lithuanian Public Institution "Deposit and Investment Insurance". Insurance coverage limit: up to EUR 100,000 for a single depositor for all their deposits held with Revolut Bank UAB. In case you have several accounts with Revolut Bank UAB all your deposits held with Revolut Bank UAB are aggregated and the insurance coverage limit of EUR 100,000 applies to the total amount of your deposits. |
Interest | |
Interest type | Variable |
Interest rate | For new Revolut customers who successfully onboard and complete Know Your Customer (KYC) checks on or after 20 August 2026, and who open a personal Instant Access Savings account within 30 days of joining Revolut, a promotional rate of 3.5% p.a. (gross rate) applies on balances up to €15,000. This promotional rate applies for 4 months upon Instant Access Savings account opening. After that, or past €15,000, plan rates apply as listed below. Rates per plan consider your total Savings balance. Standard:
Plus:
Premium:
Metal:
Ultra:
If you have a Joint Instant Access Savings account, the lowest plan rate will apply if holders are on different subscription plans. If you have a Revolut - Kids & Teens Instant Access Savings account, the plan rate of the lead parent account will be applied. Joint Instant Access Savings accounts and Revolut - Kids & Teens Instant Access Savings accounts do not follow the rates outlined above. For both account types, the rates are:
Revolut is obliged under Italian tax regulations to deduct 26% of withholding tax on interests paid. |
Interest calculation and payment | The interest is calculated based on the actual number of days in a year, and the actual number of days in a month. If you have Metal or Ultra Plan and your Instant Access Savings balance exceeds EUR 100,000, two different interest rates will apply as follows:
This applies to the combined balance across all of your individual Instant Access Savings in Euros. If two different interest rates apply to your Instant Access Savings, this will be displayed to you in App as one interest rate calculated as a weighted average between Rate 1 and Rate 2, based on your total savings. Deposits in excess of EUR 100,000 are not covered or protected by the Deposit Insurance Scheme. The interest is calculated daily on the balance of the Instant Access Savings and paid daily to this account. The interest will begin accruing on the same calendar day after you deposit funds from your current account to your Instant Access Savings. You’ll earn interest on your balance in the Instant Access Savings until the calendar day prior to you withdrawing the funds from the Instant Access Savings. |
Interest rate change | Revolut has the right to change the interest rate. If the rate is decreased, then we’ll let you know at least 2 months before the change is made. If the rate is increased, Revolut can make the change immediately. We may notify you about it prior or after the change. |
Costs | |
Total costs | You can open the Instant Access Savings and deposit funds free of charge. |
Availability | |
During the term | You can deposit and withdraw funds from the Instant Access Savings at any time from within the Revolut app. While we aim to process these requests immediately, there may be exceptional occasions where withdrawals are delayed due to operational reasons. If a delay occurs, we will provide updates through the Revolut app. |
Taxation | |
Tax | In line with applicable Italian tax law, we are obliged to make a 26% withholding tax deduction from any interest credited to your Instant Access Savings(s). For the avoidance of doubt we will not increase any interest payment in respect of such deduction of withholding tax or otherwise compensate you for that deduction of withholding tax. We will deduct the relevant tax from your interest before the interest is paid out into your Instant Access Savings, meaning that the interest you receive will be net of the aforementioned withholding tax. Further information regarding general conditions of this product can be found in the Instant Access Savings Terms. |
Other deposit requirements | |
Rejection of deposit | Revolut reserves the right to reject deposits without giving any reasons. Further information regarding general conditions of this product can be found in the Instant Access Savings Terms. |