Euro-area savings rates were finally meaningful in 2024–2025 as the ECB held rates above 3% for an extended period. In 2026, the ECB has cut twice, and rates are softening — but the spread between the worst banks (often the largest, who didn't bother to compete) and the best (neobanks and aggregator-listed providers) is wider than ever.
This is the practical map of where to actually park euros in May 2026.
What changed in 2026
- ECB cut deposit rate to 2.50% in March 2026 from 2.75% — a 25 bps move. Most savings rates followed within a month.
- Trade Republic and N26 still pay 3.0–3.5% on cash balance, near the top of euro savings rates.
- Raisin (also called Weltsparen) — the platform that lets you open savings accounts at EU banks in other countries from one onboarding — has expanded to 30+ partner banks in 2026.
Top instant-access savings (May 2026)
| Provider |
Rate |
Currency |
Country |
Notes |
| Trade Republic |
3.50% |
EUR |
Germany |
On uninvested balance, no cap |
| N26 |
3.25% |
EUR |
Germany |
Spaces feature; in some countries lower |
| Wise |
3.10% |
EUR |
(Belgium HQ for EU) |
"Stash" / Interest paid via SS funds |
| Revolut Premium/Metal |
3.00% |
EUR |
Lithuania |
Higher tiers offer better rates |
| Banca Sella |
3.00% |
EUR |
Italy |
Italian deposits with traditional bank |
| BinckBank / SaxoBank |
2.50% |
EUR |
Netherlands/Denmark |
|
Most large banks (Santander, BBVA, ING, Deutsche Bank, BNP) pay 0.5–1.5% on standard savings accounts — meaningfully below neobanks.
Term deposits — higher rates with lock-in
12-month fixed deposits (May 2026 indicative):
- Italian, Spanish, Portuguese banks: 3.5–4.0%
- French, German, Dutch banks: 2.5–3.0%
- Estonian and Lithuanian banks via Raisin: 3.5–4.2%
For 24-month, expect 50–100 bps higher in some markets.
Deposit protection — the €100k rule
Across EU/EEA, deposit guarantee schemes protect up to €100,000 per depositor per credit institution. Same euro-amount applies regardless of whether the bank is in Germany, Spain, Estonia, or Latvia — as long as it's an EU/EEA-authorized credit institution.
Practical implications:
- Spread balances above €100k across multiple banks (different licenses, not just different brands of the same group)
- Different countries don't increase your protection at the same bank — but spread across countries via Raisin spreads across multiple licenses
Raisin / Weltsparen — cross-border yield
Raisin is a marketplace that lets you deposit money in EU banks across 20+ countries from a single platform. Useful when:
- Your home country has lower rates (France, Netherlands, Germany)
- You want diversification across multiple national protection schemes (each €100k)
- You want term deposits in markets where they're competitive
Onboarding is one KYC, then individual deposits at participating banks. The marketplace fee is typically built into rates (so you see a slightly lower rate than direct, but with the convenience of unified access).
Multi-currency savings
For people earning or spending in multiple currencies (USD, GBP, EUR), Wise and Revolut offer multi-currency holding plus interest:
- Wise pays 4.10% on USD, 4.10% on GBP, 3.10% on EUR (rates vary)
- Revolut Premium offers similar tiers
These aren't FSCS or DGS-protected like a regulated bank deposit — they're held in money market funds (Wise) or custodial accounts (Revolut). Different risk profile.
Comparison: EUR savings options
| Option |
Yield |
Liquidity |
Protection |
| Trade Republic |
3.50% |
Instant |
€100k (Germany) |
| 12-mo FD via Raisin |
3.5–4.2% |
Locked |
€100k per bank |
| Money market fund |
~3.4% |
T+1 |
Securities not bank protection |
| Big-bank savings account |
0.5–1.5% |
Instant |
€100k |
| Wise EUR Stash |
3.10% |
Instant |
Money market backed |
What to actually do
- Move uninvested cash from a big bank to Trade Republic, N26, or Wise — instant 200+ bps yield uplift on idle balances.
- For balances above €100k, spread across multiple institutions via Raisin or direct.
- For 12+ month horizon, use term deposits in the highest-rate markets.
- Treat Wise / Revolut multi-currency carefully — they're great for ops but not equivalent to a regulated bank deposit for large balances.
FAQ
Are neobank savings rates safe?
For amounts up to €100k, yes — Trade Republic and N26 are credit-institution licensed (Germany, ECB-supervised). Multi-tier protection schemes apply. Above €100k, spread across institutions.
Will rates fall further in 2026?
The ECB's policy path is dovish from here. Most analysts expect 25–50 bps of further cuts by year-end. Lock in rates with term deposits if you want to defend against further cuts.
Can I open an EU savings account from outside the EU?
Most require EU/EEA residency and tax ID. Cross-border within the EU is fine (Raisin handles this); from outside, options are very limited.
Where to go next
For related guides see Best high-yield savings accounts for 2026, Best multi-currency accounts in 2026, and Send money internationally cheap in 2026.