Best neobank for savings in Belgium

A neobank often advertises a savings rate two to three times higher than a Belgian passbook account. On paper, the maths looks easy. But between the 30% withholding tax, the exemption reserved for regulated accounts and the country of the licence, the real winner is not always the obvious one. Here is how I decide.

Which neobank should you choose for savings in Belgium?

To grow available savings, the trio to watch in early 2026 is Trade Republic for the highest gross rate, Revolut for the flexibility of interest paid daily, and N26 for those who want to keep everything in a single app. All three pay more than most Belgian passbook accounts at the base rate.

The nuance comes quickly. These are unregulated savings accounts: their interest is subject to 30% withholding tax from the first euro, whereas a Belgian regulated passbook exempts a first slice. I open and test these accounts myself, and the habit I have picked up is to always think in net terms, after tax — never about the gross rate splashed across the home page.

How do savings work in a neobank?

The principle is simple: you deposit money in a savings account or "reserve", and the neobank pays interest, often calculated daily and paid monthly. The difference from a Belgian passbook lies in three points: whether the account is regulated or not, the cap that earns interest, and the taxation.

Regulation first. A Belgian regulated passbook follows rules set by law (base rate + loyalty bonus, tax exemption). Neobank accounts fall outside that framework: they are unregulated accounts, with a free rate but fully taxed. Then the cap: Trade Republic, for example, pays interest on cash up to €50,000, beyond which the surplus earns nothing. Worth watching in the small print: a "up to X%" rate is often reserved for the most expensive paid plan.

Trade Republic, Revolut or N26: which offers the best rate?

None wins on every front. Trade Republic leads on the gross rate, Revolut on flexibility, N26 on integration with the current account. Here are the base conditions, accurate as of June 2026 — rates track the European Central Bank and move often, always check the current schedule.

In practice, for everyday use: if you have a sizeable sum to place and aim for the best net yield, Trade Republic is ahead with about 3% gross, close to 2.1% net after tax, up to €50,000. If you want interest dropping in every day and a well-honed app, Revolut is the most practical. And if you already hold your current account at N26, keeping savings in the same place simplifies life, even if the net rate stays modest on the free plan.

Neobank or Belgian regulated savings account: which to choose?

That is the real question, and the answer depends on the amount. A Belgian regulated savings account exempts from tax the first €1,020 of interest per person per year (double for a couple), then taxes the surplus at only 15%. A neobank taxes everything at 30% from the first euro of interest.

Let's run the numbers. To generate €1,020 of exempt interest at, say, 1.5% on a regulated passbook, you already need close to €68,000 of capital. Below that threshold, the Belgian passbook's tax advantage is hard to beat, even with a higher gross rate at the neobank. Above it, or when the rate gap is large (3% gross versus 0.75% on a passbook at the floor rate), the neobank regains the edge despite the tax. My logic: the exemption cap on a Belgian account, the excess on the best-paying neobank.

Are your deposits protected and must you declare the interest?

Two points to settle before depositing a single euro: the guarantee and the declaration. On the guarantee side, the good news is that the main savings neobanks are licensed banks. Trade Republic and N26 hold a German banking licence, Revolut a Lithuanian one, bunq a Dutch one: your deposits are protected up to €100,000 by their home country's guarantee fund. The authorisation can be checked with the FSMA and the National Bank of Belgium.

On the tax side, this is where many get caught out. When the account is held abroad, the 30% withholding tax is not deducted at source as it is on a Belgian passbook: it is up to you to declare the interest received in your tax return, and to report the existence of the account to the Central Point of Contact of the National Bank. The first time I filled in that box, I had forgotten it — the oversight is not dramatic but it remains an obligation. Also check your IBAN's country: the first two letters tell you.

For which saver is the neobank worth it?

Start from your situation rather than from an abstract ranking:

For a precautionary fund of a few thousand euros, I keep it simple: a Belgian regulated passbook, tax-exempt and available, does the job. For a larger pot sitting idle while waiting for a project, I move the surplus to Trade Republic or Revolut, bearing in mind that the rate is never fixed. Our quiz gives a recommendation in two minutes based on your savings profile.

In short

The best neobank for savings in Belgium is the one whose net yield beats your Belgian alternative once the 30% tax is deducted. In early 2026, Trade Republic leads on the gross rate, Revolut on daily flexibility, N26 on integration. But below the exemption cap, a Belgian regulated passbook often stays unbeatable. Keep both, declare foreign interest, and check the licence before depositing. To compare offers line by line, use our comparison tool.

Sources: National Bank of Belgium (deposit guarantee, Central Point of Contact), FPS Finance and Wikifin (withholding tax, exemption for regulated savings accounts), FSMA (register of authorised institutions), fee schedules of Trade Republic, Revolut, N26 and bunq consulted in June 2026.