Revolut, the British-Lithuanian online bank with over 800,000 Belgian customers, has launched Belgium’s first non-regulated savings account offering daily interest payouts, according to De Tijd.
Traditional regulated savings accounts in Belgium provide a basic interest rate for each day the money remains in the account, alongside a loyalty bonus for funds parked for at least 12 months. The basic interest is paid annually, while the loyalty bonus is distributed four times a year. Revolut is breaking this mould with a savings product that offers daily interest payouts.
The key advantage of this approach is that interest earned immediately generates additional interest on a daily basis. Net annual interest rates range from 1.05% to 1.75%, depending on the subscription tier chosen.
However, unlike regulated savings accounts—which allow for tax exemptions on interest earnings up to €1,020 and apply a 15% withholding tax on amounts exceeding that threshold—interest on non-regulated accounts like Revolut’s is subject to a 30% withholding tax from the very first euro earned.
