Trade Republic and Scalable Capital compete on interest rates

Neobrokers Trade Republic and Scalable Capital are intensifying competition in the German digital banking and investment market through updated interest rate offerings.

Trade Republic has introduced a Girokonto (current account) that integrates banking and investment functions within a single app. The account offers 2.25% annual interest on cash balances and includes a Visa debit card. While designed for ease of use and global compatibility, the service has specific limitations regarding non-SEPA transfers and free cash withdrawals under 100 euros.

Scalable Capital is challenging this position by offering higher interest rates on its money market and fixed-term deposit products. Scalable provides a variable 2.60% annual interest rate on its daily savings (Tagesgeld) account, which is 0.35 percentage points higher than Trade Republic. Additionally, Scalable offers fixed-term deposits (Festgeld) with rates of 2.75% for 12-month terms and up to 3.00% for 24-month terms.