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 |
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.
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.
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.
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
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.
Last updated: January 2026