N26 offers tiered savings rates that increase with more expensive plans. But do the higher rates actually justify the subscription costs? Let's calculate exactly how much you need to save for each plan to break even.
The Simple Question
At what savings balance does the interest earned cover the subscription cost?
This is your "breakeven point" — the minimum balance where the plan starts making financial sense purely for savings.
N26 Savings Rates (February 2026)
| Plan | Interest Rate | Monthly Cost | Annual Cost |
|---|---|---|---|
| Standard | 0.30% | Free | €0 |
| Smart | 0.30% | €4.90 | €58.80 |
| Go | 0.50% | €9.90 | €118.80 |
| Metal (existing) | 1.50% | €16.90 | €202.80 |
| Metal (new) | 2.00% | €16.90 | €202.80 |
Note: The 2% rate is only for new Metal customers. Existing Metal customers get 1.50%.
The DIRT Factor
In Ireland, savings interest is taxed at 33% (DIRT - Deposit Interest Retention Tax). N26 doesn't auto-deduct this, but you still owe it.
This means your effective rate is only 67% of the headline rate:
| Plan | Gross Rate | After DIRT |
|---|---|---|
| Standard | 0.30% | 0.20% |
| Smart | 0.30% | 0.20% |
| Go | 0.50% | 0.34% |
| Metal (existing) | 1.50% | 1.01% |
| Metal (new) | 2.00% | 1.34% |
Breakeven Formula
Breakeven = Annual Cost ÷ (Interest Rate × 0.67)
Where 0.67 accounts for the 33% DIRT tax.
Breakeven Points for Each Plan
Standard (Free)
- Cost: €0/year
- Rate: 0.30% (0.20% after DIRT)
- Breakeven: None needed — it's free
Standard is the baseline. No subscription cost means any balance earns you money (however small).
Smart (€4.90/month)
- Cost: €58.80/year
- Rate: 0.30% (0.20% after DIRT)
- Breakeven: €29,254
€58.80 ÷ (0.30% × 0.67) = €58.80 ÷ 0.00201 = €29,254
The problem: Smart has the same rate as Standard. You're paying €58.80/year for budgeting features, not better savings rates. For pure savings, Smart never makes sense over Standard.
Go (€9.90/month)
- Cost: €118.80/year
- Rate: 0.50% (0.34% after DIRT)
- Breakeven: €35,463
€118.80 ÷ (0.50% × 0.67) = €118.80 ÷ 0.00335 = €35,463
You'd need over €35,000 in savings for Go's interest to cover its subscription cost. The real value of Go is travel insurance and free foreign ATM withdrawals — not the savings rate.
Metal - Existing Customers (€16.90/month)
- Cost: €202.80/year
- Rate: 1.50% (1.01% after DIRT)
- Breakeven: €20,179
€202.80 ÷ (1.50% × 0.67) = €202.80 ÷ 0.01005 = €20,179
Metal's higher rate means you need about €20,000 to break even — lower than Go because the rate is 3x higher.
Metal - New Customers (€16.90/month)
- Cost: €202.80/year
- Rate: 2.00% (1.34% after DIRT)
- Breakeven: €15,134
€202.80 ÷ (2.00% × 0.67) = €202.80 ÷ 0.0134 = €15,134
New Metal customers get the best deal at 2% (ECB-linked rate). You'd need about €15,000 to break even.
Summary Table
| Plan | Annual Cost | Rate | Breakeven Balance |
|---|---|---|---|
| Standard | Free | 0.30% | Free |
| Smart | €58.80 | 0.30% | €29,254 |
| Go | €118.80 | 0.50% | €35,463 |
| Metal (existing) | €202.80 | 1.50% | €20,179 |
| Metal (new) | €202.80 | 2.00% | €15,134 |
What This Means for You
If you have less than €15,000 to save:
Stick with Standard (free). No N26 paid plan will pay for itself through savings interest alone.
If you have €15,000 - €35,000:
Metal (new customers only) might make sense if you're opening a fresh account. But even then, you could get better rates elsewhere (MoCo 2.6%, Trade Republic 2%) without paying €16.90/month.
If you have €35,000+:
At this level, Metal's interest would cover its cost — but you'd still earn more at MoCo or Trade Republic with their flat rates and no subscription fees.
The Real Value of N26 Plans
N26's paid plans aren't designed for savings maximisation. The value is in:
| Plan | Best For |
|---|---|
| Go | Travel insurance, free ATM abroad, 1% cashback abroad |
| Metal | Full insurance package, lounge access, metal card, phone protection |
If you want these perks and happen to save with N26, the breakeven analysis tells you when the savings rate becomes a nice bonus rather than a cost centre.
Better Alternatives for Pure Savings
If savings rate is your priority, consider:
| Provider | Rate | Cost | Breakeven |
|---|---|---|---|
| MoCo EasySaver | 2.60% | Free | Free |
| Trade Republic | 2.00% | Free | Free |
| Revolut Standard | 1.50% | Free | Free |
| Bunq | 1.51% base | Free | Free |
All of these beat N26's free tier and don't require subscriptions.
The Bottom Line
For pure savings: N26 is not competitive. Even Metal's 2% (new customers) requires €15k+ to break even, and you can get 2-2.6% elsewhere for free.
For banking + perks: N26 Go and Metal offer genuine value through insurance, ATM access, and travel benefits. The savings rate is a small bonus, not the main attraction.
Our recommendation: Use N26 for daily banking if you value the perks. Keep your savings at MoCo, Trade Republic, or a dedicated savings account with better rates.
Last updated: February 2026