The neobank Trade Republic has raised the remuneration of its paid account to 3.04% APRalthough this improvement will initially be reserved for new customers. The entity, which has established itself as one of the most active virtual banks in the field of personal finance and digital savings, also adds new functionalities such as Spanish IBAN, Bizum and 1% cashback on card payments.
The platform will accompany this movement of your paid account with a campaign starring Brad Pitta strategy with which it seeks to gain visibility in the Spanish market and reinforce its image as an alternative to traditional banking in savings and remuneration products.
In the case of the current clientsaccessing that 3% interest will not be automatic. Trade Republic will demand recommend new users to activate this promotion in your paid accounts. Each validated registration will allow you to obtain that remuneration for three months and, if four recommendations are achieved, the benefit may be maintained for one year. In a context in which many entities continue to offer very low or even zero interest, it is increasingly common for savers to look for alternatives that allow them to obtain a return close to 3% for their money.
Remunerating accounts that offer 3% remuneration like Trade Republic
In the Spanish market, only a few paid accounts capable of offering interest of 3% APR or higher survive, and the majority do so at low specific conditions or for a limited period of time. One of the best known cases is B100Abanca’s digital bank, with the Health Account we are compensated if we comply with certain healthy habits, such as walking daily or reducing the use of social networks. In addition, it requires making at least eight card purchases per month to maintain the bonus.
Also ING has fully entered into the battle to capture savings. The entity currently offers a welcome deposit at 3% APR for three months for new Orange Account clients, with a maximum limit of 50,000 euros. However, once this promotional period ends, the remuneration drops to 0.30% APR.
For its part, XTB maintains one of the most aggressive offers on the market, reaching up to 3.50% APRalthough only during the first three months. All of this reflects how more and more banks and neobanks compete to attract liquidity at a time when many clients are looking for alternatives to obtain greater returns for their money.