Freedom24 launches new savings plans with up to 3,6% interest for EUR deposits

European investment platform Freedom24 has launched new long-term savings plans. Users can receive up to 3.63 percent interest on their deposits in euros. On deposits in dollars, users can even receive up to 5.58 percent per annum. It complements the platform’s existing D-account savings product.

Freedom24 offers more than a million investment products, like stocks, bonds ETFs, options and futures. It is also known for offering individual investors the exclusive opportunity to buy new stocks at the IPO price with 52 percent average return in 3 months.

D-account already offered 2.5% interest

The platform already offered its users a daily savings plan, called D-account. Users can receive up to 2.5 percent interest per annum in euros (and 3 percent interest per annum in dollars) with this savings plan. This account is created automatically for all users. It offers daily accruals and withdrawals at any time. The minimum deposit amount is 150 euros or dollars.

New fixed-term savings plans

Now, the platform has launched the additional savings plans. It offers increased interest rates on fixed term deposits. Money can be placed for 3, 6 or 12 months with different interest rate, varying from 2,83 percent to 5,32 percent per annum. For the deposits more than 100,000 euros or dollars, customers receive an additional 0.5 percent bonus per year.

‘These interest rates are much higher than deposit returns offered by most banks and brokerages.’

Withdrawals are upon fixed-term plan expiration. If the customer withdraws the money ahead of term, there is no penalty – the client simply receives the previously invested sum. The minimum deposit is 1,000 euros or dollars, but there is no limit on the maximum deposit amount. “These interest rates are much higher than the deposit returns currently offered by most European banks and brokerages”, says the platform.

According to the platform, the long-term savings plans are designed to maximize user’s passive income streams. They could become a good alternative for clients in between periods of active investment.

Please note: investments in securities and other financial instruments always involve the risk of loss of your capital. The forecast or past performance is no guarantee of future results. Buying stocks at IPO prices may involve additional restrictions.