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A savings account with 3% annual interest rate? How is that even possible?

A savings account with 3% annual interest rate? How is that even possible?

Where does everyone deposit their savings nowadays? I’m pretty sure that your bank account came to your mind right now. We get paid through the banks, we conduct our daily transactions through the banks, and it's so comfy to keep our earnings there for time of need or hoping to gain a bit more due to the interest rate.

The thing is, we don’t really profit as we expected. Our hard-earned money tends to lose its value because of inflation. And before you start googling what inflation is, let me explain it in simple words: year by year, the general cost of living tends to rise while our money’s purchasing power tends to drop. In simpler words? Our X dollars this year can buy us less goods next year. Pretty disturbing, huh?

On top of that, we all pay too little attention to what happens to our “sitting” savings. Apart from dropping in value as we explained above, the extremely low (and sometimes even negative) annual interest rates that banks offer, leave us with petty returns (or none at all).

Overall, one could say that we are actually losing money, by doing absolutely nothing! So, let’s do something about it!

What if I told you there is a way to properly deposit your funds with a 3% interest rate and with guarantee for capital up to 20,000€? You are probably wondering how this would be possible, and that’s completely normal. So I’m gonna give you a spoiler: it’s the Deposit Account (D-account) offered by Freedom24. It’s as safe as a bank account and all you have to do is let your money work for you. You don’t even need to be interested in investments, no need to trade at all, even though it is supposed to be like an investing account! Keep reading and you will understand why no one should miss this chance.

How exactly does this D-account work?

It’s basically a fixed income sub account you can create for free and that gets you 3% per annum in USD, with a daily return! Oh, and that’s compound interest by the way. 

Wondering how Freedom24 manages to do it? The platform makes currency swap transactions (between euros and dollars) and part of the profit gained is credited to your D-account. In other words, the platform buys dollars when their price goes down and then sells them when the price goes up. As simple as that. And then they share the return with the D-account holders.
Note that this is not something new. We could be spending hours doing it ourselves and get even more than 3%. But Freedom24 is doing it for us, no strings attached! Either you want to invest, or not!

And if you do want to trade: the D-account is only for depositing, but you.can transfer funds from your D-account to your trading account in the matter of a few clicks, and the funds appear on your trading account instantly.

And why is D-account a MUST for EVERYONE?

First of all, have you ever found a deposit account with such a high compound interest rate? I don’t think so. Let’s imagine putting 10.000€ in your account 5 years ago and let’s see how much you would have earned until today. Your passive profit would be more than 1500€, just by depositing your money and doing nothing more. You basically earned your summer family vacation for free! And of course, the more your funds grow, the more you gain due to the compound interest.
Of course, the company holds its right to change that rate at any time, but there is no indication that they will do it soon. 

“How sure can I be about my money?”

As we mentioned, your savings are guaranteed up to 20,000€ in cash. This is not something that Freedom24 decided to offer, it’s a general regulation regarding any Investment Account. What does that mean? Simply, even in the highly unlikely scenario that Freedom24 goes bankrupt, you get all your money back up to this amount! So, if you’re thinking about what happens if you actually deposit only up to 20,000€, you guessed it right. Your money is completely safe!

Note that the D-account is considered to be an Investment Account (that’s why your capital is secured up to 20,000€), BUT you are not required to be an investor to hold a Freedom24 D-account. It simply works as a safe place for your savings, just like your bank account, even if you never conduct a single trade! This is literally for everyone!

The only difference compared to the banks regarding the capital guarantees is that banks offer security up to 100,000€, but we are sure that Freedom Finance will find the way to increase their insurance sum in the near future! 

The only inconvenience is that we are not offered a card to also conduct transactions directly via our D-account. YET! We believe that this is most likely to change at some point soon since more and more customers are asking for it! 

Until then, we can just use the D-account to store a portion of our savings – and gain 3% annual interest (issued daily!)- while leaving another portion in our ordinary bank account for our transactions.

How can I open a D-account?

It’s much easier than you thought: Starting February 22, 2021, the D-account is automatically created when you open your investing account for free on Freedom24. And it’s not about any random online broker: it is regulated by the Cyprus Securities and Exchange Commission (CySEC) and operates under MiFID II rules. So you can be completely sure your money is in a place just as safe as a bank. 

You can easily fund your D-account through any of the available payment methods, such as via debit card, wire transfer, or transfer between trading accounts.

Opening your D-account is really simple:

  • Hit the button below
  • Follow the instructions for user verification
  • Your freedom24 account is ready and your D-account is automatically created

If you already have a freedom24 account before February 22, 2021, then all you need to do is log in, go to Orders > Account Settings, click New Account, open a secure session, and select D-account from the dropdown list. Confirm the operation, and that’s it!

Congrats, you’ve just opened your D-account!