Trade Republic Offers 2 Percent Interest on Cash for All Customers
By Business Wire
- All customers receive 2 percent p.a. interest on their cash balance
- Market leading annual interest rate - no limited offer as with other banks
- Interest will be calculated live in the app and deposited on a monthly basis
- The offer is valid for all existing and new customers across markets for a cash balance of up to 50.000 Euro
- Expansion of market leadership as Europe’s largest savings platform
BERLIN--(BUSINESS WIRE)--Trade Republic, Europe's largest savings platform, is now giving its customers 2 percent p.a. interest on their cash balance. This enables them to easily participate from the increased ECB rates. Trade Republic offers a market leading effective interest rate for both new and existing customers. Unlike many other banks, this offer is not time limited and holds until further notice. The interest is calculated in real time and paid out monthly, thus enabling customers to accrue compound interest. With the introduction of the interest, Trade Republic now doubles down on its mission to set up its customers for long-term wealth creation and saving up for retirement.
“With 2 percent effective annual interest per year, we are passing on the benefits of the new interest rate environment directly to our customers. Every investor can now benefit directly and easily from interest”, says Christian Hecker, Co-Founder of Trade Republic. "Exactly four years ago, we were among the first providers in Europe to introduce commission-free investing. Now, we are taking another step on our mission to make wealth accumulation possible for everyone. Today, Trade Republic is the most attractive place to save and invest your money.”
With the European Central Bank rising rates, reversing a multi-year trend of negative rates, interest-based savings have once again become attractive. Trade Republic is the first broker to seize on the opportunity to pay interest on all customers’ uninvested cash assets. With an effective annual interest of 2 percent p.a. for all existing and new customers, Europe's largest savings platform clearly sets itself apart from the competition. Unlike other banks, the duration of the offer is not limited and the interest rates will be valid until further notice. The interest income is calculated in the app in real time and credited monthly. The offer applies to cash balances of up to EUR 50,000. The customer funds are protected up to EUR 100,000 by the deposit guarantee schemes (DGS).
A Trade Republic account can be opened in only five minutes in the app or via desktop. Customers can invest in Europe's largest ETF savings plan offering free of charge. In addition, Trade Republic also offers fractional trading for almost all stocks. This allows customers to invest any budget, including highly-priced individual stocks such as Booking.com or Warren Buffett's Berkshire Hathaway. Trade Republic is active in 17 European countries and is supervised by BaFin and Bundesbank.
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ABOUT TRADE REPUBLIC
Trade Republic is on a mission to set millions of Europeans up for wealth creation with secure, easy and commission-free access to capital markets. With over one million customers, Trade Republic is already the home screen app for many Europeans to manage their wealth. It offers investing in savings plans, fractional investing and ETFs as well as derivatives or crypto. Trade Republic is a technology company supervised by Bundesbank and BaFin. As Europe’s largest savings platform, Trade Republic has received investments by Accel, Peter Thiel‘s Founders Fund, Ontario Teachers‘, Sequoia and TCV. The company based in Berlin was founded in 2015 by Christian Hecker, Thomas Pischke, and Marco Cancellieri.
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First published on Wed, Jan 4, 2023
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