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Scalable Overnight Account with 2.5% interest: How to Activate the new offer
Scalable Capital is launching a new overnight account that sits a full 0.5% above the ECB interest rate. Here is how you can benefit from the new offer.
- Level: For everyone
- Reading duration: 2 Minuten
What to expect in this article
New overnight account at Scalable Capital
The neobroker will offer a dedicated overnight account in the future. Previously, interest was earned directly on the clearing account associated with the brokerage account. This clearing account will no longer accrue interest. Instead, you can now open a separate overnight account that offers both higher interest (2.5% instead of 2.0% p.a.) and monthly interest payouts. Furthermore, other points affecting most users have been adjusted. For instance, the limit for interest-bearing credit in the FREE account (previously €100,000) has been removed. The two account models now only differ in how the credit is distributed. While in the PRIME+ model, money is distributed exclusively among partner banks and the Scalable Capital Bank**, in the FREE model, it is also allocated to certified money market funds.The Scalable Capital overnight account at a glance:
- 2,5 % interest p.a.
- Monthly interest distributions, calculated on a daily basis.
- Up to 5 x €100,000 deposit insurance through distribution across Scalable Capital Bank and four partner banks.
- Interest on unlimited balances in both FREE and PRIME+.
- Only usable with a separate overnight account.
- No more interest on the clearing account starting in April.
How to activate the Scalable overnight account
To benefit from the new interest offer, you must open a separate overnight account with Scalable and transfer funds to it. Specifically, it works like this:- Open the overnight account in the login area via "Add product".
- Transfer credit from the clearing account to the overnight account.
- Collect interest.
* If you use one of the affiliate links marked with an asterisk, we receive a commission. This is how we largely finance our free information service. Please note: Investing in securities involves risks.
** Important note: Since 2021, we have been a 100% subsidiary of Scalable GmbH. We are economically connected but operate with editorial independence.
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