Daily Money: which neobanks offer good interest rates

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Written By Kampretz Bianca

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Tech-savvy investors have been using their smartphones as an investment tool for a long time. They control your portfolio’s savings plans with their thumb – this is low-limit and also benefits vendors, who can sell their products more easily. But neobanks and brokers are not only worth it for those who invest in ETFs or shares, as they currently also offer good interest on capital not invested in bonds. We saw the current conditions.

Offers from our daily money comparison

All of the following suppliers are subject to deposit protection up to €100,000 and are included in our Daily Money Comparison listed.

  • C24 Bank offers 3.0% interest. A free current account is required as a condition. Interest payment: monthly.
  • Finvesto pays 1.5% interest. A free account with the deposit provider is required. Interest payment: semi-annually.
  • N26 offers 1.26% interest in combination with a free standard account. Interest payment: monthly.
  • As a robo-advisor, Quirion promises 3.0% interest. Interest payment: end of the quarter.
  • For several months now, the Commercial Republic has been granting interest of 4.0 percent on uninvested capital up to 50,000 euros, However, according to Trade Republic, this maximum limit will be removed soon. Interest payment: monthly.

Offers we don’t list

Some neobanks offer maximum interest rates, but we have not included them in our comparison test yet because they do not meet all our conditions and have some disadvantages.

  • Bunq advertises interest of 4.01 percent for the first four months up to 5,000 euros. But only two withdrawals or transfers from the savings account to the settlement account are possible. That’s why we didn’t include Netherlands mobile banking in our product comparison.
  • Openbank offers 3.8% interest for the first six months to new customers when opening a free current account, and 2.8% thereafter. The bank is subject to Spanish deposit insurance. Given that the country does not have the top ratings we would expect, we doubt that all investors will be promptly compensated in the event of a bank failure as required by law.

Check the traps

Neobanks offer many advantages, such as lower costs. But when it comes to bait offerings, check where there are traps, like weak ones economic power of the country in which the bank is located. If you don’t feel like it, choose one of our offers Comparison test.

  • Scalable Capital currently guarantees its clients 4.0% interest for four months – then 2.6%. We do not list the offer because it is only valid in combination with Prime+ for 4.99 euros per month.
  • willBe Invest announces interest of 3.8 percent up to an investment value of 50,000 euros. Liechtensteinische Landesbank is behind the digital brand. The country does not belong to the European Union and is not classified by the three main agencies. We doubt that deposit insurance will be able to compensate all investors in a timely manner in the event of a bank failure.

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