Scalable Capital Raises Savings Rates to 2.60% on September 1, 2026

Scalable Capital boosted savings rates effective September 1, 2026. The Munich neobroker now pays 2.60% per annum on flexible overnight accounts and up to 3.00% on fixed-term deposits. The overnight rate climbed from 2.50%, putting Scalable ahead of Trade Republic. For German savers facing 2.9% inflation in August, the move offers better returns than traditional bank accounts, though deposit protection varies by account type.

New savings rates and account types

Scalable Capital’s overnight account now yields 2.60% p.a. on unlimited balances with no minimum deposit. The rate is variable and interest pays monthly. Fixed-term accounts debut at 2.75% p.a. for 12 months and 3.00% p.a. for 24 months, starting from just 1 euro with no maximum. Both accounts open in minutes via the app with a dedicated IBAN for direct transfers.

Deposit protection depends on subscription tier

In the free plan, overnight deposits spread across multiple banks with 100,000 euro statutory protection each, or park in money market funds under UCITS rules. The paid Prime+ tier guarantees up to 500,000 euros total protection by distributing funds across five banks. Fixed-term deposits receive 100,000 euro statutory protection per bank, with optional additional coverage. Savers should review protection details based on their balance size.

Real returns lag inflation despite higher rates

Germany’s August inflation stood at 2.9%, meaning the 2.60% overnight rate yields a negative real return of 0.3%. Even the 3.00% fixed-term rate at 24 months falls short of inflation. Chase Bank currently offers 4.00% p.a. on overnight deposits up to 100,000 euros for four months, though this is time-limited. Investors seeking inflation-beating returns may consider ETF investing through Scalable’s platform alongside savings accounts.

Italian expansion and competitive positioning

Scalable Capital opened an Italian bank branch on September 1, offering Italian IBANs and the same 2.60% overnight rate with automatic tax handling. The move targets Italian savers holding 1.1 trillion euros in current accounts earning just 0.19% p.a. on average. In Germany, Scalable’s rates now exceed Trade Republic’s offering, strengthening its position among neobrokers competing for deposit share.

Final Thoughts

Scalable Capital’s rate hike to 2.60% overnight and 3.00% fixed-term improves returns for German savers, but real yields remain negative after inflation. The move signals neobrokers are pressuring traditional banks on deposit rates, though investors seeking capital growth should weigh savings against ETF options available on the platform.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.