Best High-Yield Savings Accounts in Europe — May 2026

Where Things Stand

The ECB cut rates from 4% in 2024 to 2.25% by May 2026. That's squeezed savings rates significantly. The 4-5% rates that were briefly available in 2023-2024 are gone. But 2.5-3% is still available if you know where to look, and that still beats inflation in most eurozone countries right now.

The accounts worth having are the ones that give you immediate access to your money (so you can use them for an emergency fund), are covered by EU deposit guarantee schemes up to €100,000, and have no fees eating into your interest.

Trade Republic — 2.75%

The clearest option for most European investors right now. Trade Republic automatically sweeps uninvested cash into a savings product paying 2.75% (as of May 2026), regulated across the EU, with instant access. No separate account to open — if you already use Trade Republic for investing, you're already earning this rate on idle cash.

Raisin — up to 3.1%

Raisin is a marketplace that aggregates savings products from partner banks across Europe. The rates change weekly as banks compete. In May 2026, some partner banks are offering 3%+ on fixed-term accounts (6-12 months). Not ideal for emergency funds since the money is locked up, but genuinely attractive for money you won't need for a year.

Revolut Savings Vaults — 2.5%

Available on the Plus and Premium plans (€2.99-7.99/month). The rate is decent but remember that Revolut is a fintech, not a bank in all countries — check whether your jurisdiction gives Revolut the full banking licence and deposit protection. In Lithuania and the UK, yes. Elsewhere, check the fine print.

N26 — 2.2%

N26 Savings pays 2.2% with instant access and no minimum balance. Simpler than Raisin, slightly lower rate, but good if you're already banking with N26 and want everything in one place.

What Traditional Banks Pay

Most major high street banks in France, Italy, Spain, and Germany are paying 0.5-1% on standard savings accounts. That's below current inflation rates, meaning you're losing purchasing power by leaving money there. The difference between 0.5% and 2.75% on €10,000 is €225/year in interest. It takes about 20 minutes to open one of the accounts above.

The Move

Keep 3-6 months of expenses in a Trade Republic or N26 account for your emergency fund. Put any additional savings you won't need for 12+ months into a Raisin fixed-term product for the higher rate. Don't use either for your actual investing — that goes into a proper brokerage account.