
With 3.83% APY on EUR, 5.39% on USD and 5.19% on GBP (variable), our Lightyear Savings offer some of the top rates on the market when compared to products with similar flexibility.
Why choose Lightyear Savings Vaults?
In a financial landscape where the central bank rate remains high (4% for EUR, as of Sept 2023), most easy-access savings accounts across Europe are offering average rates of around 0.4%. (1)
That's why Lightyear is launching Savings Vaults, providing the flexibility customers in Europe crave alongside competitive interest rates.
How Lightyear Vaults work
Lightyear Vaults allow users to invest in AAA-rated money market funds managed by BlackRock, the world’s largest asset manager with over $10 trillion in assets under management. These funds typically require a minimum investment of €1 million (2) and are now accessible to all Lightyear customers with a simple user interface.
Here’s what you need to know:
- High interest rates: Earn 3.83% APY on EUR, 5.39% on USD and 5.19% on GBP (variable).
- Daily interest accrual: Overnight interest that tracks the live rates, calculated daily and paid out monthly.
- Flexibility: Easy access to your cash with no withdrawal minimums or maximums. Same day withdrawals back to Lightyear accounts, same (or next day latest) external withdrawals.
- Transparency and low fees: A straightforward 0.25% fee, combining a 0.10% BlackRock fee and a 0.15% Lightyear fee.
Compared to other interest-earning products that often come with complex conditions and hidden fees, Lightyear Savings Vaults offer a straightforward and highly competitive rate with unmatched flexibility. This product is ideal for investors holding diverse portfolios across major currencies, allowing them to optimise their returns without incurring constant foreign exchange fees.
Available across 11 markets
Lightyear Vaults will be available in 11 major European markets: Austria, Estonia, Finland, France, Germany, Hungary, Italy, Luxembourg, Netherlands, Spain and the UK.
If you don’t see your country on the list, please don’t hesitate to get in touch and we’ll see what we can do with our product roadmap for future launches.
What is a Money Market Fund?
A Money Market Fund is a low-risk investment that aims to give you a slightly higher return than cash. Unlike most funds that invest in bonds or shares, it invests in short-term debt.
This short-term debt is bought from by governments, banks and companies with strong balance sheets and high credit ratings. In exchange, they pay interest to the fund.
Lightyear Savings allows you to invest in Money Market Funds. As with all investments, the value can go up as well as down. The yield generated by these funds changes daily and may also move in an unfavourable direction. Make sure to read and understand risks related to money-market funds before investing, explained in our Risk Disclosure.
The prospectuses and Key Information Documents of these funds are available in our app and website, and on BlackRock’s website.