Introducing Lightyear Savings: our biggest rate yet

We’re excited to announce the launch of our new high yield Savings Vaults, an investment product designed to help our customers across Europe maximise their returns.
Jani Kiilunen
Jani Kiilunen
Lead Product Manager
Published 2 weeks ago
3 minute read
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.
“Our new high yield Savings Vaults will help people across Europe to make the most out of globally high interest rates. It’s not in our nature to do things by halves, so we’re offering some of the highest rates on the market out of all flexible interest-earning products. We’re able to do that because we’re giving customers access to a cash-based investment product that’s usually been reserved for high net worth individuals. Cash has become an asset class in its own right recently, forming proportions of people’s investment portfolios, so it’s been increasingly important to us that we build something customers really want - with the same transparency, low fees and quality of the rest of the platform. We’re so excited to bring Vaults to the market, offering the flexibility and easy access that people want, with a product that tracks the overnight interest rate.”
(From Martin Sokk, our co-founder & CEO)

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.
Disclaimer
Provider of investment services is Lightyear Europe AS. With Vaults, your money is invested into money market funds, where the value of investment can go up or down. Terms apply, seek guidance if needed. Yield (APY) shown is net, variable and correct as of 22.05.24.
Jani Kiilunen
Jani Kiilunen
Lead Product Manager