In a recent press release, Trade Republic introduced an offer of a 4% interest rate for cash savings. The rate is calculated in real time and is paid monthly, enabling customers to accumulate compound interest. The rate is valid until further notice.
“This interest rate is one of the highest annual interest rates in Belgium and is not a limited offer like many other banks,” the company says in the statement. “The interest rate shown is valid until further notice.”
Existing and new customers alike can benefit from the deal, on balances up to €50,000.
“With an effective interest rate of 4% per annum, we are passing on the benefits of the new interest rate environment directly to our customers,” says Matthias Baccino, market lead. He is referring to the ECB’s interest rate increases, which once again make interest-based savings appealing.
Investments are protected by the European Directive on Deposit Guarantee Schemes (DGS).
With over 1m customers, Trade Republic is the largest savings platform in Europe, operating in 17 European countries and supervised by the Federal Financial Supervisory Authority (BaFin) and the Bundesbank.