Trade Republic launches a free current account in Greece and increases competition with a 3% interest rate for new customers and comprehensive savings and investment services
· Trade Republic offers a free current account with a card, a 3% interest rate on cash balances for new customers, and a 1% Saveback programme. Through Saveback, 1% of eligible card purchases is automatically invested in a Savings Plan.
· New customers receive a 3% interest rate on their cash balance up to €50,000. For amounts above €50,000, the current ECB interest rate of 2.5% applies, with no upper limit.
· The new free current account allows customers in Greece to receive their salary directly, pay bills, and make instant money transfers via SEPA.
· The Trade Republic app is now fully available in Greek, offering Greek customers a comprehensive experience fully adapted to the needs of the local market.
Trade Republic is expanding its banking services in Greece. As of today, new customers in Greece can open a free current account with a card and receive a 3% interest rate on their cash balance up to €50,000. At the same time, they can invest in stocks, ETFs, bonds, and Savings Plans through the same app. The current account also supports salary payments, bill payments, and instant transfers via SEPA. The Trade Republic app is now also fully available in Greek.
“Greece has a strong tradition of saving through cash, but traditional banks continue to offer near-zero interest rates, making it difficult to protect savings from inflation,” said Pablo Lopez, Country Manager of Greece. “With our free current account, a 3% interest rate on cash balances, and free execution of Savings Plans, we are giving Greek consumers more tools to make the most of their savings and build wealth over the long term.”
The current account complements Trade Republic’s existing card offering, which includes 1% Saveback on eligible card payments, with the amount automatically invested in a Savings Plan, zero ATM withdrawal fees for amounts above €100, and no additional foreign exchange fees for transactions worldwide.
Trade Republic highlights that its customers benefit from attractive interest rates on available funds that have not been invested. New customers receive a 3% interest rate on balances up to €50,000, while existing customers receive the ECB interest rate of 2.5%. Interest is calculated daily and paid monthly, with no upper balance limit, in order to maximise the benefits of compound interest.
According to available data, approximately 58% of Greek households’ financial assets are held in deposits, while Greek banks offer an average interest rate of just 0.03% on household overnight deposits. Based on an average deposit balance of approximately €37,000 per household, a household receiving an annual interest rate of 3% could earn approximately €1,100 more in gross interest per year compared with a traditional overnight deposit account.
Existing customers can also benefit from the 3% interest rate for three months for each successful referral of a new customer, with the total duration of the reward reaching up to 12 months. Deposited funds continue to be distributed among partner custodian banks, such as Deutsche Bank, HSBC, and Crédit Agricole. Depending on the applicable allocation structure, part of the funds may also be diversified through money market funds.
Trade Republic’s mission is to empower everyone to build wealth. By combining everyday banking services with simple and low-cost access to capital markets, Trade Republic provides Greek customers with the tools to save, invest, and build wealth over the long term, all within one app.
