Trade Republic introduces interest on balances
Lars-Thorben Niggehoff
| 04.01.2023
Neobroker is now paying its clients two percent APR on cash balances in their clearing accounts.
Neobroker Trade Republic is responding to the changing interest rate environment in Europe by offering interest on its customers' cash balances with immediate effect. Two percent per annum are to receive these for the cash existence of their clearing account. According to the company's own information, this would result in the highest effective annual interest rate in Germany.
In contrast to conventional interest payment procedures, Trade-Republic customers are to be credited with this monthly. The offer applies to both existing and new customers and applies up to 50,000 euros in credit.
"With two percent APR, 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. The offer is also not limited in time, the interest rate is valid until further notice, he added.
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Startup
2017
Berlin
Trade Republic
Platform for commission-free trading of shares, ETFs and derivatives.
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