Trade Republic, a German startup, is increasing interest in unspent funds. Users will earn 2% a year in interest on any cash they have in their Trade Republic accounts.
Due to the impact of inflation on European consumers’ savings, Trade Republic will likely draw in new clients who are searching for higher interest rates with the new feature. Trade Republic receives revenue from small fees and the payment for order flow.
More specifically, Trade Republic specifies that daily interest calculations will take place and that the startup will credit user accounts once every month. Interest is only paid to users with cash balances up to USD 50,000. The business is currently promising 2% APY.
Read More: Trade Republic, a popular stock trading app, adds 2% interest on cash | TechCrunch
