Geldanlage: Revolut zahlt 4,25 Prozent Zinsen auf Tagesgeld – Das Angebot hat jedoch drei Haken

The British digital bank Revolut aims to boost its customer base in Germany with its first interest-rate initiative in the country. The institution offers new customers an interest rate of 4.25 percent on cash deposits, as the fintech announced on Tuesday. Revolut is "at the forefront of the German market," said Revolut manager Wiktor Stopa.

However, the offer has three caveats. The interest rate is only valid for four months after account opening and up to a balance of €25,000. This is significantly less than the 4 percent interest rate offered by competitor Chase for balances up to €1 million, also valid for four months. New Revolut customers must wait a month before enjoying the promotional rate, and then perform three transactions of at least five euros each, every 30 days, to maintain it.

These conditions indicate that the fintech does not intend to attract "rate shoppers" who move their money to a different institution every few months when a better promotional rate becomes available. Instead, Revolut seeks to win long-term customers who actually use the account for payments. After the promotional period ends, users of Revolut's free standard account will earn 2.25 percent interest on balances up to €5,000, while higher balances will earn 1.25 percent.

Revolut is one of the fastest-growing digital banks and now has over 75 million customers worldwide. In Germany, the institution has more than three million users. To further expand its presence in the country, Revolut will start cooperating with the Deutsche Bank, which will hold all newly opened cash accounts. This would place the deposits under Germany's statutory deposit insurance, protecting up to €100,000 per person.

Legally, the EU deposit insurance should be of no consequence, as there is a uniform protection level of €100,000 per customer and bank throughout the European Union. However, some investors may prefer the German deposit insurance over the one from Lithuania, where Revolut initially operated. Revolut's move reflects its long-term strategy in Germany, investing continuously to strengthen its local presence.

The fintech has recently introduced German IBANs and an offer for investments in private equity and infrastructure assets. It also advertises its services in TV spots featuring football World Champion Mario Götze for its offerings. In the EU, Revolut long faced skepticism from some experts and banking regulators due to its long history of operating under a Lithuanian bank license.

However, the company recently obtained a banking license in France, bringing it closer to its goal of becoming "Europe's largest and most trustworthy bank."