Revolut Savings Account Review: 2.9% to 4% by Plan

This Revolut savings account review comes down to one number: your plan. Revolut’s Instant Access Savings pays 2.90% AER (variable) on the free Standard plan and up to 4% on Ultra, with interest worked out and paid every day. The account itself is not run by Revolut’s own bank. It is provided by ClearBank, and that changes how your FSCS protection adds up. Here is what you actually get on each plan, when a paid plan earns back its fee, and the protection detail most reviews skip.

All rates below come from Revolut’s own summary box and plans page, checked on 9 October 2026. They are variable, so confirm them in the app before moving money.

Revolut savings rates by plan

Two things stand out. Plus costs money but pays exactly the same savings rate as Standard, so nobody should upgrade to Plus for savings. And on Ultra, once your balance passes £200,000 Revolut applies a blended rate across the whole pot, so the headline 4% shrinks slightly on very large balances.

Customers aged 16 and 17 get 2.90% AER regardless of plan.

Interest paid daily: what that means in practice

Revolut calculates interest on your total end-of-day balance across all your Instant Access Savings accounts, and ClearBank pays it the next calendar day, gross (before tax). You can watch it land every morning.

Daily payment feels generous, but it adds very little in cash terms. AER already includes compounding, so 2.90% AER paid daily and 2.90% AER paid monthly earn the same over a year. The real advantages are that you can withdraw on any day without losing a month’s interest, and that there is no minimum balance and no withdrawal fee. You can save up to £5,000,000.

Revolut also lets you feed savings with spare-change round-ups from card spending and scheduled recurring deposits. If round-ups are the main draw, compare it with the dedicated apps in our guide to the best round-up savings apps.

Does a paid plan pay for itself?

On interest alone, only with a big balance. Take the free Standard rate of 2.90% as the baseline and ask how much you need saved before the extra interest covers a year of monthly fees:

• Premium: 0.35 percentage points extra against £95.88 a year in fees. Break-even is about £27,394.
• Metal: 0.50 points extra against £179.88 a year. Break-even is about £35,976.
• Ultra: 1.10 points extra against £660 a year. Break-even is £60,000.

Below those balances, a paid plan loses you money on savings. On £10,000, Standard earns about £290 in a year, while Ultra earns about £400 but costs £660, leaving you £260 worse off. These sums ignore everything else the plans include, such as travel insurance, lounge access and bundled subscriptions. If you would pay for those anyway, the savings rate is a bonus. If you would not, it is a poor reason to upgrade.

The same logic applies at any app with tiered rates. We worked it through for Monzo and Chase too.

The 5% offer: closed to new sign-ups

In June 2026 Revolut ran a boosted rate of 5.00% AER (variable) on the first £25,000 for brand-new customers. To qualify you had to open a new Revolut personal account with Revolut Bank UK Ltd between 5 June and 4 August 2026 and open the promotional savings account by 4 August. Existing and former customers were excluded.

That window has shut. If you did get in, the 5% runs until 4 December 2026. After that your account switches automatically to the standard Instant Access Savings, at your plan’s rate, and Revolut says it will tell you a month beforehand. On the Standard plan, that is a fall from 5% to 2.90%. Our page on what to do when a savings app bonus rate ends covers the options. Put a reminder in your calendar for early December now.

Is Revolut savings FSCS protected? Yes, through ClearBank

Revolut Bank UK Ltd launched as a fully licensed UK bank in March 2026, and your current account balance is FSCS protected once your account has migrated to it (our page on whether digital banks are safe covers the migration).

Instant Access Savings works differently. The summary box names it “Revolut Instant Access Savings (powered by ClearBank)”, and Revolut’s savings page says your savings are protected up to £120,000 by the FSCS “via ClearBank Limited”. So the protection on your savings sits with ClearBank, not with Revolut’s bank.

That has two consequences:

1. The £120,000 limit is shared with anything else you hold at ClearBank. Several other UK savings apps also place money with ClearBank, Chip’s Easy Access Saver among them. If you have savings in more than one ClearBank-backed product, they count together toward one £120,000 limit.
2. Your Revolut current account and Revolut savings are covered by different firms. On the face of the paperwork, money in a migrated Revolut current account falls under Revolut Bank UK’s limit and money in savings falls under ClearBank’s. If you are relying on this for a large balance, confirm it for your own accounts with the FSCS protection checker before you count on two limits.

Either way, this is a normal bank deposit guarantee, not the e-money safeguarding that covered Revolut balances before it became a bank.

Tax on Revolut savings interest

Interest is paid gross and counts toward your Personal Savings Allowance: £1,000 a year for basic rate taxpayers, £500 for higher rate and nothing for additional rate. Because it pays daily, the interest builds up across the tax year without you noticing, so a higher rate taxpayer with about £17,250 in Revolut at 2.90% uses up the whole £500 allowance with this account alone. Our explainer on tax on savings app interest works through examples.

Instant Access Savings is not an ISA. If you want tax-free interest, compare the best Cash ISA apps.

How Revolut compares

At 2.90% on the free plan, Revolut is a reasonable rather than a standout easy access rate. Its real strengths are daily interest, no minimum and no withdrawal fees, all inside an app many people already use for travel money (see Revolut vs Monzo). Its weakness is that the better rates sit behind subscriptions that cost more than most people’s savings earn. Before settling on it, check the current leaders in the best easy access savings apps.

Our verdict

• Good for: existing Revolut users who want instant access savings in the same app, people who like seeing interest daily, and Ultra or Metal subscribers who already pay for the plan for its travel perks.
• Not good for: anyone tempted to upgrade a plan just for the savings rate on a balance under about £27,000, or savers already holding large sums in another ClearBank-backed account.

Frequently asked questions

What is Revolut’s savings rate on the free plan? 2.90% AER (variable) on the Standard plan, checked on 9 October 2026. Plus pays the same 2.90%, Premium 3.25%, Metal 3.40% and Ultra 4.00% on balances up to £200,000.

Does Revolut pay savings interest daily? Yes. Interest is calculated on your end-of-day balance and paid by ClearBank the next calendar day, before tax. Over a year it earns the same as the AER shown, because AER already accounts for compounding.

Is Revolut savings protected by the FSCS? Yes, up to £120,000 per person, through ClearBank Limited rather than Revolut Bank UK. The limit is shared with any other money you hold at ClearBank, including through other apps that use it.

Can I still get Revolut’s 5% savings rate? No. It was only for new customers who opened accounts between 5 June and 4 August 2026. Those who qualified keep 5% on up to £25,000 until 4 December 2026, then move to their plan’s standard rate.

Is Revolut Metal or Ultra worth it for savings? Only on large balances. On interest alone, Metal pays for itself at about £36,000 saved and Ultra at £60,000, compared with the free plan. Below that, the fees outweigh the extra interest unless you value the plan’s other benefits.

Are there withdrawal limits on Revolut savings? There are no withdrawal fees and no minimum balance, and you can take money out at any time. You can hold up to £5,000,000.

Sources

• Revolut, Promotion Rate Instant Access Savings terms and summary box: rates by plan, daily interest, promotion dates.
• Revolut savings page and plans comparison page (fees and FSCS wording), checked 9 October 2026.
• FSCS, check your money is protected.