Klarna Savings vs Openbank Welcome Savings
Two savings accounts for expats in the Netherlands, figure by figure.
Openbank Welcome Savings is the stronger pick for most expats.
- Interest rate: 3.10% as a promotion for 6 months, then 2.25% vs 2.20% (up to 2.70% with Klarna Max)
| Figure | ||
|---|---|---|
| Interest rate | 2.20% (up to 2.70% with Klarna Max) | 3.10% as a promotion for 6 months, then 2.25% (better) |
| Minimum deposit | None | None |
| Access to your money | Instant | Instant |
| Maximum deposit | No limit (better) | €1,000,000 |
| Deposit guarantee | Up to Covered (SE scheme) | Up to €100,000 (ES scheme) |
| Rate check | Verified 29 October 2026 | Verified 29 October 2026 |
Bold marks the better value in a row. Figures are checked daily against provider sources; each product page shows when its figures were last confirmed.
Klarna Savings
What we like
- 1.75% interest rate
- Excellent mobile app
- Swedish bank license
- EU deposit guarantee (Sweden)
What to consider
- Primarily known for payments
- Swedish bank (not Dutch)
- Relatively new savings product
- App focused on shopping features
Openbank Welcome Savings
What we like
- 3.00% welcome rate for 3 months
- No minimum deposit
- Up to €1 million covered
- EU deposit guarantee (Spain)
What to consider
- Rate drops to 1.90% after promo
- Spanish bank (Santander subsidiary)
- Customer service can be slow
- App not as polished as Dutch banks
Questions
Is Klarna Savings or Openbank Welcome Savings better for expats in the Netherlands?
Openbank Welcome Savings comes out ahead for most expats. Interest rate: 3.10% as a promotion for 6 months, then 2.25% vs 2.20% (up to 2.70% with Klarna Max)
Which has the higher interest rate, Klarna Savings or Openbank Welcome Savings?
Openbank Welcome Savings pays more — 3.10% as a promotion for 6 months, then 2.25% versus 2.20% (up to 2.70% with Klarna Max).
Are Klarna Savings and Openbank Welcome Savings covered by a deposit guarantee?
Klarna Savings: Covered, under the Swedish deposit guarantee scheme (Riksgälden). Up to SEK 1,150,000 (about €100,000) per person. Openbank Welcome Savings: Up to €100,000 per person per bank, under the Spanish deposit guarantee fund (FGD).