Trade Republic will increase the savings account interest rate to 2.50% per year, equivalent to 2.53% effective annual rate, starting Wednesday, September 16. This increase applies to clients who joined the platform before May 12. The decision comes following the announcement by the European Central Bank, allowing the fintech to continue directly passing on changes in reference rates to clients, without conditions, limits, or additional costs.
New clients continue to benefit from an effective annual rate of 3.04% on cash deposits, up to the limit of 50,000 euros. Existing clients can also access this higher rate for a maximum period of one year through the platform's referral program.
Trade Republic currently has over 200 thousand clients in Portugal and has established itself as one of the main European savings and investment platforms in the country, following the launch of its Portuguese branch and Portuguese IBAN.
Pablo López, regional manager of Trade Republic for Spain, Portugal and Greece, stated that the company remains committed to fully passing on, at minimum, the ECB's decisions regarding interest rates to clients, without conditions or additional costs, enabling Portuguese people to obtain returns on their money in a simple, transparent and accessible manner.
