Trade Republic Ireland Review 2026: 2% Savings + Investing
From SmartSaver.ie, Ireland's independent comparison site. Prices and rates in this guide are checked daily.
Trade Republic pays 2% on cash with instant access. Plus commission-free investing. Full review for Irish users.
By SmartSaver Team | Published 1 January 2026 | Updated 8 July 2026 | 5 min read
Topics: trade republic ireland, trade republic review, savings and investing, neobank
Trade Republic combines savings (2% on cash) with commission-free investing. Here's whether it's right for Irish savers.
Trade Republic at a Glance
| Feature | Detail | |---------|--------| | Cash Interest Rate | 2.00% | | Maximum Earning | €50,000 | | Access | Instant | | Protection | German DGS (€100,000) | | Account Fee | Free | | Investing | Stocks, ETFs, Crypto |
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How Trade Republic Savings Works
Unlike traditional savings accounts, Trade Republic is primarily an investment platform that pays interest on uninvested cash.
The 2% Cash Rate
- Rate: 2.00% AER
- Applies to: Cash not invested
- Maximum: €50,000 (above this earns 0%)
- Paid: Monthly
- Access: Instant, withdraw anytime
You don't have to invest. You can just use it as a savings account.
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Is Trade Republic Safe?
Yes. Trade Republic is a licensed German bank.
| Safety Factor | Detail | |---------------|--------| | Bank License | German banking license | | Regulator | BaFin | | Deposit Guarantee | German DGS | | Protection | €100,000 per person |
Cash is protected up to €100,000 by the German deposit guarantee scheme.
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Trade Republic vs Bunq
| Factor | Trade Republic | Bunq | |--------|----------------|------| | Rate | 2.00% | 2.01% | | Max earning | €50,000 | €100,000 | | Investment features | Yes | No | | Free account | Yes | Yes |
Choose Trade Republic if you want savings AND investing. Choose Bunq if you only want savings with higher limit.
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Pros and Cons
Pros
- 2% on cash (excellent rate)
- Free account
- German deposit guarantee
- Commission-free ETF savings plans
- Good app
Cons
- €50,000 earning cap (Bunq is €100k)
- Primarily investment platform
- German IBAN
- Tax complexity if investing
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Verdict
Rating: 4/5
Trade Republic is excellent for savers who might also want to invest. The 2% cash rate is competitive, and investment features are a bonus. For pure savings over €50k, Bunq is better.
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Frequently Asked Questions
Is Trade Republic safe for Irish savers?
Yes. Trade Republic is a German bank licensed by BaFin and covered by the German Deposit Guarantee Scheme up to €100,000. Your savings are as protected as any EU bank.
What savings rate does Trade Republic pay?
Trade Republic pays 2.00% on deposits up to €50,000. The rate is variable and may change with ECB rates. Interest is paid monthly directly to your account.
Do I need to pay tax on Trade Republic interest?
Yes. Trade Republic doesn't auto-deduct Irish DIRT, so you must declare interest on your annual tax return. Trade Republic provides statements to help with tax filing.
Can I use Trade Republic just for savings?
Yes. While Trade Republic is primarily an investment app, you can use it purely for the savings interest without ever buying stocks. Many Irish users do exactly this.
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Last updated: January 2026---