C24 and N26 Lower Interest Rates

On January 29, 2025 C24 Bank has announced another change to its interest rates due to recent policy updates from the European Central Bank (ECB). Starting February 1, 2025, customers with a C24 current account (Smart, Plus, or Max) or a C24 Savings Pocket will receive an annual interest rate of 1.5% on their deposits (previously 1.75%).

Shortly after C24, another digital bank - N26 - announced drop in interest rates too. Starting February 5, 2025, N26 Metal customers will earn 2.25% p.a., N26 You customers will earn 1.05% p.a., and N26 Standard and Smart customers will earn 0.75% p.a.

Why Are the Rates Changing?

The adjustment follows the ECB's decision on December 12, 2024, which set the deposit facility rate for the Eurosystem at 3.00%. C24 Bank determines its own rates by subtracting 1.50 percentage points from this benchmark, resulting in the new 1.5% interest rate for customers. It's expected that most of the banks will adjust their rates accordingly. The ones that offered the highest rate on the market are going to be affected the most.

What Will Change from February, 2025?

• C24 Current Accounts & Pockets: 1.5% per year
• C24 Savings Pocket: 1.5% per year
• N26 Instant Savings: 0.75% for Standard and Smart, 1.05% for N26 You and 2.25% for N26 Metal

With C24, these rates apply only to customers who have accepted the latest terms and conditions (as of January 31, 2023). Customers can check if their account qualifies for interest in the C24 Bank app under the account details section.

For more details on the new interest rates, visit the C24 Bank website and N26 Bank website.

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C24 News source