Trade Republic has paid over 1 billion euros in interest

Online trading platform Trade Republic has reached a new milestone. It started offering interest on cash balances in January 2023 and since then, more than 1 billion euros has been paid out in interest to customers.

Trade Republic is a trading platform from Germany. Users can invest in savings plans, ETFs, derivatives and crypto and fractional stocks. Since 2023, users can also invest in fractional bonds. With the introduction of interest on cash balances, the online broker has started to become more like a savings platform.

Saveback on card payments

According to the platform, it has customers in 17 European countries. It also has billions of assets under management. In the financial year up to September 2023, it reached net profit. It has now announced that it has already paid out more than 1 billion euros in interest to its customers.

‘The bank automatically invests 1 percent of card payments into an asset of choice’

The trading platform has obtained a banking license, and because of that it now has an interest bearing current account. When customers use the card, it automatically invests 1 percent of card payments into an asset of choice.

‘We want to have an attractive banking offering’

“It is a wide belief that banks only serve their needs and neglect the customer. At Trade Republic we strive to change that. We pursue to offer the most attractive banking offering, fair and transparent. That is why we pass the full ECB interest rate to our customers on every euro held, uncapped and with no time limit”, says Christian Hecker, co-founder of Trade Republic.

‘All other banks keep a margin for themselves’

“While all other banks keep a margin for themselves, introduce hidden conditions and time limits, we offer the most attractive banking offering in Europe. A free current account, 1 percent Saveback on all card payments with our free Trade Republic card, free ETF savings plans, and 3.25 percent interest per year on cash balances – paid out monthly.”