How to open a Revolut High-Yield Savings account: Step-by-step guide
Financial basics · March 25, 2026Lydia Makin
Opening a Revolut High-Yield Savings account is one of the easiest ways to start earning more on your money directly from the Revolut app.
With up to 5.50% APY (variable),¹ daily interest accrual, and no withdrawal fees, Revolut lets you put your savings to work while still keeping your money accessible whenever you need it.
In this guide, we’ll walk you through exactly how to open a Revolut High-Yield Savings account, what you’ll need to get started, and how to begin earning interest in minutes.
The information provided is accurate as of March 16, 2026.
The content of this page is for general information purposes only and does not constitute financial advice. If you have any questions about your personal circumstances, please seek professional and independent advice. Revolut is not a financial advisor.
What is a Revolut High-Yield Savings account?
A Revolut High-Yield Savings account is a savings account designed to help your money grow faster through higher interest rates.
Unlike traditional savings accounts that often offer minimal interest, Revolut offers competitive APY rates and calculates interest daily, meaning your balance grows a little more every day.
With Revolut, you can:
- earn up to 5.50% APY (variable) depending on your plan¹
- accrue interest daily, paid monthly
- start saving with as little as $0.01
- withdraw money anytime with no fees
- manage everything in-app
You can deposit up to $10,000 in a High-Yield Savings account. If your balance grows beyond that, the additional amount continues earning interest in a standard Savings account with up to 3.75% APY (variable).¹
How to get a HYS account with Revolut
You can open and manage your Revolut High-Yield Savings account in the same app you use for your everyday spending. Here's how it works:
- Download the Revolut app: Find us on the App Store or Google Play Store.
- Sign up for Revolut: Enter your mobile number and follow the instructions to create your account.
- Verify your identity: Take a quick photo of your ID and a selfie to help us keep your account secure.
- Choose your plan: We offer a range of plans to suit your needs, from our Standard plan with no monthly fees, to our Premium and Metal options. Compare our plans.
- Navigate to Savings: From the home screen, tap the account selector below your balance, and select Add new. Scroll down and choose Savings, then Savings again.
- Add money: Link your external account or move money from your Revolut balance into your Savings start earning interest immediately.
High-yield savings account requirements
To open a Hight-Yield account with Revolut, make sure you meet the following requirements:
- Age: You must be at least 18 years old to open an individual account.
- Residency: You generally need to be a US citizen or a resident with a valid physical address.
- Identification: You'll need a government-issued photo ID, such as a driver’s license or passport.
- Social Security number: This is required for tax reporting purposes and to verify your identity.
- Initial deposit: We don't require a minimum amount of money to open the account, but you need $0.01 minimum to earn APY.
Why you should consider a high-yield savings account
If you keep your savings in a basic checking account or a low-interest savings account, your money might be losing value over time. This is due to inflation, which is the rising cost of goods and services.
Beating inflation with higher interest
Inflation reduces the purchasing power of your money. If the inflation rate is 3% and your savings account only pays 0.01%, your money is effectively shrinking. While a high-yield savings account may not always beat the highest spikes in inflation, it provides a much stronger buffer than traditional accounts, helping you maintain more of your purchasing power.
The power of daily compounding
The frequency of compounding matters. Many of the best high-yield savings account US providers calculate interest daily. This means your money works for you every single day. Over several years, the difference between a regular checking account and a high-interest savings account can amount to thousands of dollars in interest earned, even without additional deposits.
Check out our guide on how to open a US High-Yield Savings account for tips, provider comparisons, and more.
Opening a high-yield savings account doesn’t have to be complicated. With Revolut, you can set up your account in minutes, start earning competitive interest with as little as $0.01, and access your savings whenever you need them — all from the same app you use to manage your everyday money.
Download the Revolut app and open your account today.
¹The Annual Percentage Yield (APY) is a variable rate and may change at any time. APYs are accurate as of August 20, 2025. APYs vary by plan and account type. The rates are as follows:
- Standard: 4.00% APY for balances in a High-Yield account. 3.25% APY for balances in other savings accounts.
- Premium: 4.50% APY for balances in a High-Yield account. 3.35% APY for balances in other savings accounts.
- Metal: 5.50% APY for balances in a High-Yield account. 3.75% APY for balances in other savings accounts.
Revolut is not a bank. Plan fees and cancellation fees apply for Premium and Metal plans. This is a variable rate account and the APY may change without notice. T&Cs apply. No minimum balance to open, $0.01 minimum to earn APY. Only one High-Yield account is permitted per customer and is limited to $10,000 in customer-initiated deposits. The maximum combined balance of all savings accounts is $250,000 per customer. Savings account services are provided by Cross River Bank, Member FDIC, insured up to $250,000.