Are you looking for the best way to earn interest on your uninvested EUR cash while waiting for the right investment opportunity?
Since the sharp rise in interest rates across the globe, investment brokerages have led the way in offering brokerage savings accounts with decent interest rates (almost completely risk-free in most cases).
Among the current market offerings, Freedom24 is currently offering the best high-yield savings account in Euros in Europe, where you can generate returns of up to 4.80%.
In this blog post, we will take a closer look at what the best interest rate offerings are on the market right now for your uninvested EUR cash.
Best 8 Brokers for interest rates on uninvested cash in EUR
- Freedom24: The highest interest rate on Euros, where you can generate returns of up to 4.80%.
- Trading 212: New users get a free share worth up to €100.
- Trade Republic: The only one with cash protection up to €100k. The best mix of security and high interest rate.
- Lightyear: A new broker with high interest rate on cash.
- Interactive Brokers: Another great alternative. Despite the lower rate, IBKR is publicly listed, has a long track record, and is highly transparent.
- Bux: Ideal for beginner investors (only available in a few European countries).
- Scalable Capital: Excellent for automated portfolios.
- Saxo: Best for advanced investors.
Comparison of best brokers for interest rates on uninvested cash in EUR
Best Brokers for interest rates on uninvested cash in EUR
#1 Freedom24
Freedom24 is a NASDAQ-listed online broker offering million+ stocks, ETFs, and US options worldwide.
It offers an interest rate of up to 4.80% on Euro balances as part of Freedom24’s Funds Placement.
Freedom24 offers “D-account Securities Swap*” with an interest rate of 2.91% per annum for EUR deposits with daily income accruals, and you can transfer money to your trading account at any time.
And “Long-Term Funds Placement Securities Swap*” with an interest rate of up to 4.80% for EUR deposits in fixed period accruals with 3, 6 or 12-month plans.
If you want to know more about Freedom24? Check out our review.
*This product is an investment in OTC swaps, and may not be appropriate for every investor. This product is not a banking service and is not related to a bank deposit or a bank account. The ability to provide access to a particular financial instrument is subject to an appropriateness test.
#2 Trading 212
When investing, your capital is at risk.
Trading 212 is a brokerage firm that offers commission-free stock and ETF investments plus CFDs on stocks, indices, commodities, and forex.
It offers an interest rate of 3.40% on the uninvested cash in EUR, paid daily. All accounts, including Invest and ISA accounts, are eligible for this feature.
Interested in knowing more about Trading 212? Read our Trading 212 Review.
#3 Trade Republic
Investing involves risk of loss.
Trade Republic offers a 3.00% interest rate on uninvested cash EUR balances, credited monthly. Your funds are held with major EU banks, providing deposit guarantee protection up to €100,000.
Interested in knowing more about Trade Republic? Read our Trade Republic Review.
#4 Lightyear
Terms apply, seek guidance if necessary. When you invest, your capital is at risk.
Lightyear offers an attractive interest rate up to 3.04% on uninvested cash in EUR balances, credited monthly.
Your uninvested funds are kept separate from Lightyear’s business funds. In the unlikely event of insolvency, your assets are safeguarded and protected up to €20,000.
Interested in knowing more about Lightyear? Read our Lightyear review.
#5 Interactive Brokers
Interactive Brokers offers a maximum interest rate of 2.349% for EUR balances. Interest accruals are calculated monthly and credited within the first days of the following month, based on settled money only.
Accounts with a Net Asset Value (NAV) of USD 100,000 or more are eligible for the full rate; lower balances earn proportionately less. To estimate your rate, you can use their online calculator.
For more details on the protection provided for EU accounts, we have covered this extensively in a separate blog post if you are interested in learning more about your protections.
Interested in knowing more about Interactive Brokers? Read our Interactive Brokers review.
#5 Scalable Capital
Scalable Capital offers a 2.60% interest rate on uninvested EUR balances, credited quarterly.
Your funds are safeguarded but not covered by a deposit guarantee scheme.
To earn interest, you must sign up for a PRIME+ account at €4.99 monthly.
#6 BUX
BUX offers a 2.00% interest rate on uninvested EUR balances, credited quarterly and your funds are protected by the Dutch Central Bank’s Deposits Guarantee Scheme up to €100,000.
Interested in knowing more about BUX? Read our BUX review.
#7 Saxo
62% of retail CFD accounts lose money.
Saxo offers tiered interest rates based on account type (Classic, Platinum, VIP) and balance where you can earn up to 1.67% interest on uninvested cash in EUR.
For example, a €30,000 deposit yields 0.625% for Classic accounts, 0.67% for Platinum accounts, and 1.67% for VIP accounts. If you would like to estimate your rate, you can use their online calculator.
Interest is earned daily and credited monthly. Balances below €10,000 do not earn interest and your funds are guaranteed up to €100,000 for cash deposits in case of bank failure, providing an added layer of security.
Interested in knowing more about Saxo Bank? Read our Saxo review.
Bottom line
In summary, the interest rates on uninvested EUR cash provided by the top brokers offer a range of opportunities and attractive options for investors to maximize their idle funds across various platforms.
If you’re looking for the highest interest rate, Freedom24 is currently offering the best high-yield savings account in Euros in Europe, where you can generate returns of up to 4.80%.
However, for those who may not be able to open an account with Freedom24 due to country restrictions, Interactive Brokers is an excellent alternative. It offers competitive interest rates of up to 2.349%, low commissions, and strong protection for your investments.
Looking for interest in GBP and USD cash? Check our articles on the best brokerage account interest rates on Uninvested GBP cash and Uninvested USD cash.
Feel free to get in touch if you want to share feedback or have any questions!
