Best savings accounts EU?

[knowhisjoy77]

Hello there,

After I managed to cap 50k in trade republic, I'm looking for other options with at least the same 4%pa or higher...heard about Monzo going up to 4.45% or so.

Any recommendation w/ or w/o short term staking where I should look at and any above that 4% of trade republic?

I saw Kraken is offering 5.75% on staking USD but FX to buy dollars are quite expensive, otherwise would be a cool option too

Cheers!

 

[harttysoul]

@knowhisjoy77 Trading212

 

[eastcascade]

@knowhisjoy77 The Monzo offer, that you mention, is for GBP savings, not EUR.

Stay away from Kraken staking.

Options include:
- Raisin (certain countries)
- Trading212
- Lightyear
- Money Market Fund such as XEON.

 

[djdanik]

@eastcascade Whats wrong with Kraken staking. Geniunly curious

 

[dfrost]

@djdanik Crypto companies don't have adequate oversight and will just randomly go bust.

 

[greenhill]

@knowhisjoy77 You can buy money market ETFs using TR account.

 

[joswarris]

@greenhill Which one?

 

[greenhill]

@joswarris Accumulating: XEON, LYXW, L8I3, XG01 or Distributing: IS3M

You can check them on justetf.com

Edit: You need to check if they all are available in TR

 

[httx]

@greenhill They pay less than 4% tho.

 

[greenhill]

@httx a little less but it is convenient - you don't need a second account

 

[evietheturtle]

@httx Anything more is probably just some temporary advertisement from the bank though. Not really worth it for the long term.

 

[endeavour]

@httx 3.9

 

[jamantc]

@knowhisjoy77 Trading212 gives 4,2% money secured till 20k

 

[hanyyousri]

@jamantc Only some of the balance is secured.

Uninvested cash is held in banks and QMMFs.

Login to your account, tap on 'Earn Interest on cash', follow the instructions and tap the 'Enable' button. You'll need to consent to having your cash held in qualifying money market funds (QMMFs).

Where we hold your money with a bank, you are protected by the ICF up to a limit of €20,000 and are additionally insured up to €1M by Lloyd’s of London.

Money placed with a QMMF is treated as an investment and not as money held with a bank. In the unlikely event that the QMMF fails to maintain their low-risk strategy, as with any investment, the protection will not be available. We carefully select all QMMFs to ensure that they are highly liquid, stable in value and maintain their highly regulated status.

 

[binde]

@knowhisjoy77 Sorry for the question, but why save so much money in low interest short term? If you already have €50k liquid why not invest the rest in a long term portfolio that’ll get more than a measly 4%?

 

[haji007]

@binde He could need the money in the short-term, like making a down payment for house

 

[knowhisjoy77]

@binde Legit question, no problem. Just waiting for interest to go down to buy a house, so I just wanna make the most out of my cash in the next 12-18 months

 

[glitterfloozy]

@binde Im in the same boat. What would you do differently?

 

[binde]

@glitterfloozy Simple portfolio of S&P500 ETF, Gov Bonds ETF and Gold ETC. The longer the term, the more weight on S&P 500. Deposit into it monthly and use it to rebalance (never sell for rebalancing!).

 

[glitterfloozy]

@binde Appreciate it sir