High-Yield Savings Accounts: 4%-7%
Savings Accounts are generally considered safer than alternatives such as crowdlending and shares. They offer a good way to improve your diversification.
However, it applies to all investments that the higher the interest, the higher the risk. Below are some brief reviews of high-yield savings accounts.
Table of Contents
IuvoSave
Updated November 2024.
On the crowdlending platform Iuvo, you can earn an interest rate of 5, 6 or 7% for terms of 3, 6, or 12 months when using their High-Yield Savings Account called IuvoSave.
IUVO’s description of the security: “IuvoSAVE has lowere level of risk than our P2P loans because the funds invested through iuvoSAVE are used by MFG companies only. MFG owns iuvo and a big part of our loan originators. It has over 30 companies in 7 countries in Europe and it currently works on its expansion outside of Europe”.
Languages in the website: English, Deutsch, Espanol, Eestie
Security
- License: Estonia FSA
- Today’s Trustpilot score
- Founded: 2015
- It appears to be safer than investing in crowdlending loans.
Account Details
- Minumum deposit: €100
- Fixed period
- 3 months: 5%
- 6 months: 6%
- 12 months: 7%
- You may withdraw your savings prematurely for a fee of 1%. This ensures a good liquidity
My recomendation
I have invested in both IuvoSave and P2P loans since January 2022, and everything has worked smoothly. Therefore, I trust Iuvo. I recommend placing a portion of your liquidity in one or more of the IuvoSave accounts as a smaller component of your diversification strategy. This way, you retain the option to withdraw funds as needed.
Pros
- Prematurely withdrawal is possible
- Has existed since 2015
- High Interest compared to ordinary bank savings accounts
Cons
- Lower interest rates compared to investing in similar crowdlending platforms
- The level of security is lower than in ordinary banks
Bonus:
- When you invest €100 or more within 3 months, both of us receive a 2% bonus on your investment.
- Send an email to safeinvest@clearit.dk, including your name and indicating that you would like a bonus in Iuvo.
Read about the crowdlending part of IUVO
Mintos Smart Cash
In the crowdlending platform Mintos, you will find the safest alternative to traditional bank savings accounts covered in this review. The interest rate of about 3.75% is higher than that of traditional banks but lower compared to other high-yield savings accounts. Additionally, Mintos Smart Cash is the most liquid savings account, as withdrawals and deposits are often made within the same day and without a fee.
Languages in the website: English, Deutsch, Francais, Italiano, Espanol, Nederlands, Polski, Cesky, Latviesu
Security
Mintos description of security:
“Mintos Smart Cash invests in a low-volatility and highly liquid money market fund with the highest rating (AAA), managed by BlackRock, one of the world’s leading providers of investment, advisory, and risk management solutions.:
- License: regulated under MiFID II — one of the most stringent regulatory frameworks in the EU
- Trustpilot score: 4.0 (December 2024)
- Founded: 2015
Account Details
- Minumum deposit: €1
- Fixed period: No
- You may withdraw your savings at any time.
- Withdrawals and deposits are normally done within the same day and without a fee.
- This ensures a good liquidity
My recomendation
I have invested in Mintos since 2021, and everything has worked smoothly. Therefore, I trust Mintos. I recommend placing a portion of your liquidity in Mintos Smart Cash as an alternative to ordinary banks. This way, you retain the option to withdraw immediately. For investment purposes, I recommend allocating the remaining part of your liquidity to a savings account with a higher interest rate – or in a short-term crowdlending platform with an even higher interest rate. Or consider Mintos Core Loans , which also provides immediate withdrawal and an interest of 12%.
Investing your liquidity in short term crowdlending loans provides a much higher interest than high yield savings accounts. But they also carry a higher risk. So as always: Diversify your investments.
Pros
- High security with regulation under MiFID II
- Immediately zero-fee withdrawals
- Has existed since 2015
Cons
- Lower interest rates compared to investing in other high-yield saving accounts .
Bonus:
- We both get €50 instant bonus when you invest €1 000 or more (before 05/08/2024)
- Additionally you get 1% of the average investment in the first 90 days
- Get your bonus here
- Or use this referral code: 7PHKN8
Read about the crowdlending part of Mintos
Bondora Go & Grow
Updated January 2025
Founded in 2008, Bondora was one of the earliest crowdlending platforms. Since 2023, they have focused solely on their high-yield savings account.
Languages on the website: All European languages
Security
- License: Estonia FSA
- Trustpilot: 3.4 (January 2025 )
- Founded: 2008
- Risk management: The risk is mitigated because all Bondora’s claims (loans) are bundled, and the profit is an average of all loans (like ETF’s).
Account Details
- Minumum deposit: €1
- Interest rate: up to 6%
- If the performance of the loans Bondora invests in is low, the interest rate may decrease.
- Withdrawal: You may withdraw your savings at any time for a fee of €1. However, if liquidity in Bondora is low, you may experience delays in processing your withdrawal.
- Auto deposit: You can set up a monthly bank transfer.
My Recommendation
Having invested in both Bondora Go & Grow and their P2P loans since January 2022, I’ve experienced seamless operations and consistent performance. Bondora’s lengthy track record and positive Trustpilot reviews further instill confidence in their platform. Based on my personal experience and assessment, I trust Bondora.
I recommend allocating a portion of your liquidity into Bondora Go & Grow as a supplementary component of your diversification strategy. This approach allows you to maintain the flexibility to withdraw funds as necessary. Read more about how to invest your liquidity in short-term loans.
Pros
- Instant withdrawal is possible
- The platform has been in existence since 2008.
- Offers high interest rates compared to conventional bank savings accounts.
Cons
- Interest rates may be decreased.
- Withdrawals may be postponed due to low liquidity in Bondora.
- Offers lower interest rates compared to investing in crowdlending.
Bonus:
- When you invest €50 or more within 1 months, we both receive a €5 bonus.
- Click here to get an instant bonus of 5€ when signing up
Revolut Bank
With a 2% annual interest rate, Revolut Bank is not really a high-yield savings account. However, it has some very good features, which make it my favorite bank.
Features of Revolut Bank
- Investor guarantee: up to 22k € in the case of bankruptcy
- Free currency exchange (up to €1.000 monthly)
- Withdraw in ATM without a fee to Revolut (€200 monthly)
– using ATMs in banks avoids fees to ATM companies - International bank transfers
- Robo-Advisor: Automatic investing your funds in a mix of ETF’s and Bonds according to the risk level you choose. No minimum invest. Recurring bank transfer to your investment is possible. No fee for the transactions. There is an annual fee of 0.75% to Revolut plus the usual annual fee to the ETF’s (normally around 0.3%-0.6%) Read more.
- Manual Trade shares and ETF’s without a commission-fee (1 free trade monthly)
Read an example here - Trade Crypto in a simple way.
(high minimum fee compared to major crypto exchanges but more user-friendly for beginners) - Visa card and account with no fees
Visa card delivery by post for €6 - Savings account: 2% annual interest
- Mobile App: A very user-friendly app
Languages in the app: All European languages
Security
- License: Revolut holds a banking license for the EEA (European Economic Area), which was granted by the Bank of Lithuania.
- Trustpilot: 4.5 (June 2025)
- Founded: 2015
My recommendation
If you frequently need to exchange currencies, this is the most cost-effective method to do so. Being free to use, it is highly convenient. Additionally, it offers an easy and inexpensive way to experiment with trading shares, ETFs, and cryptocurrencies.
Pros
- Zero-fee currency exchange, ATM withdrawals, and share trading
- Zero-fee account and Visa card
- Holds a banking license for the EEA
Cons
- Lower interest rates compared to high-yield savings accounts
- High fees in cryptocurrency trading
Bonus:
- Receive a $40 bonus when you order the Visa card and use it at least three times for transactions of €7 or more each.
- Send an email to safeinvest@clearit.dk, including your name and indicating that you would like a bonus in Revolut Bank.
Visit Revolut here (Affiliate link)
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