How to use EasyFlex Savings?

ℹ️  Available for all N26 customers that meet the following terms & conditions requirements: Customers need a German N26 account, a German legal address and must've verified their identity with N26 (during sign up) no more than 2 years ago to use this product. EasyFlex Savings is only available in English and German currently.

With EasyFlex Savings you can earn interest on your savings whilst staying flexible. The minimum deposit is 500€. After that there are no limits on how much you can deposit or withdraw from your EasyFlex Savings. This means there is no fixed saving term and you can access your funds at any time. Transferring money from and to your EasyFlex Savings account takes up to 2 business days. Tap on Explore in the Homescreen of your App, scroll down and tap EasyFlex Savings to open it.

What does EasyFlex Savings cost?

We charge no fixed fee and nothing on the interest you earn. If you have more than 50.000€ on your N26 account, EasyFlex Savings is a great way to avoid our deposit (new tab) fee whilst earning something extra. 

How often is the interest paid?

Your earned interest is paid to your EasyFlex Savings account every quarter (3 months). You can choose to withdraw it, or keep it in your EasyFlex Savings to earn even more interest.

Is the interest rate fixed?

No. Your interest rate may vary, depending on the partner bank. We always strive to be transparent and offer you the most competitive rates, so we’ll be sure to let you know if your interest rate changes at any time.

Do I need to pay income tax on the interest earned in my savings account?

You must declare your earned interest as part of your personal income tax declaration to the responsible tax authority. Whether you need to pay income tax on your earned interest will depend on your personal circumstances. You will receive an annual statement from our partner bank in your in-app inbox each year, which will show you the total interest amount that you need to declare.

How does N26 provide the EasyFlex Savings service?

We partnered up with Raisin who are also known as WeltSparen to offer EasyFlex Savings as a completely digital service. Our partner bank for this product is the Norwegian Komplett Bank.

Is my money safe in EasyFlex Savings?

Yes. You are covered by the applicable Deposit Guarantee Scheme that protects your funds up to €100.000 (paid out in the Norwegian Krone equivalent).