Anonymous

04 Nov 2019

∙

Is there any plan to have some sort of "earn interest " on deposit?

Will it be rolled out any time soon?

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Royalchem

04 Nov 2019

Project Officer at Security Related

I don’t think so. It would be great if there is.

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Kelly Trinh

04 Nov 2019

Backoffice technical at financial services firm

Depends on your definition of "soon" really :)

Interest on balances is really just another feature pushed by competition - mouth-watering interest rates can be used to attract deposits and Revolut would be balancing out how attractive interest is against the other features (share trading, cheap int'l transfers, etc etc) it could implement.

In terms of overseas experience, in the UK, Revolut has been around for about 4 years, similar to Starling Bank (another digital-only challenger bank) - Starling is offering interest on balances but Revolut not yet.

Given SG space just starting out, I'd say not enough competitive pressure for interest on balances for Revolut SG in foreseeable future.

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