Revolut launches daily interest savings vault

Revolut has announced the launch of its latest UK product, a daily interest savings vault.

British customers with a Revolut standard plan can now start to earn 0.15 per cent daily interest on the funds in their GBP vaults.

They can round-up their card payments and save their spare change, or deposit money into their Savings Vaults via recurring or one-off transfers.

The FinTech plans to expand the product to other European countries in the coming months.

“To date, Vaults have helped over 2.5 million people build towards their financial goals,” said Marsel Nikaj, head of savings and lifestyle at Revolut. “Now, we are excited to roll out Savings Vaults with daily interest and no fees to standard plan users to help them achieve their goals faster.”

Nikaj added: “We are also looking forward to bringing this product to European markets in the near future to enable anyone to earn money on their savings, even in a negative interest rate environment.”

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