The arms race in the offer of interest is on: Many direct banks are now offering interest again. Many, including ING, have meanwhile revised their interest rates further upwards. Some neobrokers have also jumped on board. There, Traderepublic briefly charged 2% interest pa for a credit balance of up to EUR 50,000. With 2.3 percent on call money, however, Scalable Capital is likely to win the race at the moment.
The Dutch fintech bunq is also increasing interest rates. The interest rate for MassInterest was already set at 1.31 percent in January. Reasoned by the rate hikes by the European Central Bank. Barely a month later, customers are now being informed that, due to a further interest rate hike by the ECB, the MassIntrest interest rate for private savings accounts can be reduced from 1.31 percent raise 1.56 percent. For business accounts, it stays at 1.05 percent. The first payout with the new interest rate will happen on March 1st. The interest rate is valid for deposits of up to 100,000 euros, these are also capped by the deposit insurance. You can also withdraw twice a month from savings accounts.
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