Best EU Cash Interest Accounts 2026: 5 Platforms Compared
Trade Republic 2.25%, Lightyear ~2.22%, Raisin fixed to ~3.5%, Wise 2.02% EUR, bunq up to 3.01%, Scalable 2.60%. Side-by-side EUR cash rates (August 2026), DGS cover and tax.
11 min czytaniaFact-checked against primary sources on · figures re-verified on regulator, issuer or SEC filings — not copied from other sites
Best EU Cash Interest Accounts 2026: Trade Republic vs Raisin vs Wise vs Bunq vs Lightyear
TL;DR
For EUR cash in August 2026, the most-used pan-EU platforms pay between about 2.0% and 3.0% on flexible balances — the ECB deposit rate is 2.25% after the June 2026 hike, and broker cash accounts track it: Trade Republic 2.25% (up to €50,000, uncapped with a TR IBAN), Scalable Capital 2.60% (uncapped, launched March 2026), bunq up to 3.01% (plan-dependent, paid weekly), Wise Interest ~2.02% net of its 0.26% fund fee, Lightyear ~2.22% via money-market funds. Locking money up buys more: Raisin's marketplace shows about 3.0% for 1 year, 3.1% for 2 years and 3.5% for 7 years from EU partner banks. All rates verified on the providers' pages on 27 August 2026 and change with every ECB decision.
Why this comparison exists in 2026
Two years ago there were maybe two or three credible EU-wide platforms paying meaningful interest on cash. By 2026 there are at least a dozen, and the consumer challenge has flipped from "where can I find any yield?" to "which of these mostly-similar 3-4% products actually fits my situation?".
This guide compares the five most widely used cash-yield platforms in the EEA, with attention to mechanics, tax treatment in the four largest savings markets (Germany, Netherlands, Spain, Poland), and the trade-offs that don't show up in the headline rate. If you'd rather stick with a domestic provider, weigh these platforms against our ranking of the best high-interest savings accounts.
The ECB's deposit facility rate is 2.25% (raised from 2.00% in June 2026), so any product offering noticeably above that is doing one of: passing through a money-market fund yield (Wise, Lightyear), packaging a smaller bank's wholesale funding need (Raisin partner banks — see our dedicated Raisin savings marketplace review for how that aggregation works), or subsidising the rate from other revenue (Trade Republic, Bunq subscriptions).
Side-by-side overview
| Feature | Trade Republic | Raisin | Wise Interest | Bunq Easy Savings | Lightyear Cash |
|---|---|---|---|---|---|
| EUR rate (Aug 2026) | 2.25% | fixed 3.0% (1y) – 3.5% (7y); flexible ~2.26% | 2.02% net | up to 3.01% (plan) | ~2.22% |
| USD rate | n/a | rare | 3.44% net | n/a | check app (lower than 2025) |
| GBP rate | n/a | rare | 3.32% net | n/a | check app |
| Product type | Bank deposit (segregated) | Bank deposit (partner) | Investment in MMF | Bank deposit (own balance sheet) | Investment in MMF |
| Term | Flexible | 1-60 months fixed or flexible | Flexible | Flexible | Flexible |
| Max balance for full rate | €50,000 (uncapped with TR IBAN) | Per-bank | No cap | No cap | No cap |
| Deposit protection | German DGS €100k per partner bank (4 banks) | National DGS €100k per partner bank | NOT a deposit; FSCS partial | Dutch DGS €100k | ICF Estonia €20k |
| Where money held | Deutsche Bank/JPM/Citi/SocGen | Each chosen partner bank | BlackRock MMF | Bunq's balance sheet | MMF (US/EU) |
| Withdrawal speed | 1-2 business days | At maturity (or break with penalty) | Instant | Instant | Instant |
| Monthly fee | 0 | 0 | 0 | €2.99-€17.99 | 0 |
| Rate paid | Daily, monthly credit | At maturity | Daily | Monthly | Daily |
| Regulator | German BaFin | German BaFin | FCA / FinCEN / NBB | Dutch DNB + ECB | Estonian FSA |
| License type | Full bank | Investment intermediary | E-money + investment | Full bank | Investment firm |
| Available countries | 17 EEA | 30+ EEA | 175+ globally | 30+ EEA | 25+ EEA |
| Tax classification | Interest income | Interest income | Investment income | Interest income | Investment income |
| Currencies with yield | EUR | Mostly EUR | EUR/USD/GBP | EUR (and EUR-equivalents) | EUR/USD/GBP + others |
| KYC tier | Full | Full | Full | Full | Full |
| Min deposit | €0 | €1+ (varies) | €0 | €0 | €0 |
| App rating (avg) | 4.6 | 4.4 | 4.7 | 4.5 | 4.6 |
How each platform actually generates the yield
The rate alone tells you almost nothing without understanding the underlying mechanics — they determine your real risk profile and the worst-case scenario for your cash.
Trade Republic — segregated bank deposits at partner banks
Trade Republic is itself a German bank (BaFin licence): cash on a Trade Republic IBAN sits on its own balance sheet under the German deposit guarantee (€100,000), and the 2.25% rate is the ECB deposit rate passed through.
Raisin — direct deposits at chosen partner banks
You pick a specific bank and term from the marketplace, and your cash lands as a real deposit at that bank in your name. DGS protection is from the partner bank's national scheme (German FGDS, French FGDR, Bulgarian BDIF, etc.), each capped at €100k. Smaller EU banks pay higher rates because they need wholesale funding and Raisin gives them efficient retail distribution. Fixed-term deposits cannot be broken without forfeiting interest, but they let you lock in today's rate for up to 60 months — useful as ECB cuts loom.
Wise Interest — BlackRock money-market fund investment
When you switch on Interest, your e-money balance is moved into a BlackRock-managed MMF (typically ICS Euro/USD/Sterling Government Liquidity Fund). Daily yield from short-dated government securities is paid through to you minus a ~0.10-0.15% fund fee. No DGS protection — this is an investment in a fund, not a deposit. In normal conditions MMFs are extraordinarily stable, but in a severe credit event the NAV could in theory move below 1.00.
Bunq Easy Savings — own balance sheet at a Dutch bank
Bunq is a fully licensed Dutch bank under DNB and ECB supervision. Deposits sit on Bunq's own balance sheet and are protected by the Dutch DGS up to €100k per depositor. The yield is funded partly by traditional deposit-and-lend banking economics and partly subsidised by the monthly subscription fee — which is why higher-tier paid plans pay higher rates.
Lightyear Cash — money-market fund investment via Estonian broker
Similar mechanic to Wise: cash is invested in money-market funds (US Treasury MMF for USD, EUR government MMF for EUR, GBP for GBP). Lightyear is an Estonian-licensed investment firm, so the Estonian Investment Compensation Fund (ICF) applies — but the cap is only €20,000, materially lower than the €100k DGS level. The yield is among the highest in the market (4.30% EUR / 5.05% USD) because Lightyear keeps less of a spread than competitors.
Savings in one bank, investments in another? See it all in one place — and how many months it could carry you.
See your Freedom Runway — freeReal-world example: 12-month yield by balance
Assume rates hold for 12 months (they likely won't — ECB will probably move). Gross annual interest:
EUR deposits
| Balance | Trade Republic 2.25% | Raisin 2y 3.10% | Wise 2.02% | bunq 3.01% | Scalable 2.60% | Lightyear 2.22% |
|---|---|---|---|---|---|---|
| €1,000 | €40.00 | €41.00 | €35.50 | €31.60 | €41.60 | €43.00 |
| €10,000 | €400 | €410 | €355 | €316 | €416 | €430 |
| €50,000 | €2,000 | €2,050 | €1,775 | €1,580 | €2,080 | €2,150 |
| €100,000 | €2,250 (€1,125 above the €50k cap without TR IBAN) | €3,100 | €2,020 | €3,010 | €2,500 | €2,220 |
But Bunq plans cost money. Net of subscription:
Bunq net of monthly subscription
| Balance | bunq Core €3.99/mo | bunq Elite €18.99/mo |
|---|---|---|
| €1,000 | -€4.28 (negative) | -€174.28 (negative) |
| €10,000 | €280 | €200 |
| €50,000 | €1,544 | €1,864 |
| €100,000 | €3,124 | €3,944 |
USD deposits
| Balance | Wise USD 3.44% | Lightyear USD (check app) |
|---|---|---|
| $10,000 | $431 | $505 |
| $50,000 | $2,155 | $2,525 |
| $100,000 | $4,310 | $5,050 |
GBP deposits
| Balance | Wise GBP 3.32% | Lightyear GBP (check app) |
|---|---|---|
| £10,000 | £379 | £485 |
| £50,000 | £1,895 | £2,425 |
| £100,000 | £3,790 | £4,850 |
Tax considerations by country
Same gross yield, very different net depending on where you live.
Poland (19% Belka)
Flat 19% on interest and investment fund income. Self-report on PIT-38 (no withholding by foreign platforms). On €400 of interest at Trade Republic, €76 owed.
Germany (Abgeltungsteuer ~26.375%)
Flat 25% + 5.5% Soli + church tax. Sparerpauschbetrag €1,000 per person per year is exempt. Trade Republic and German banks withhold at source. Bunq, Raisin (foreign-bank routing), Wise, Lightyear typically require self-reporting on Anlage KAP.
Netherlands (Box 3 deemed return)
The actual interest is irrelevant — what matters is the asset value at 1 January, and a deemed return rate set annually. For 2026, deposits are taxed at deemed ~1.4-1.6% × 36% = effective ~0.5-0.6% on the balance. Investments (Wise MMF, Lightyear MMF) are taxed at the higher deemed ~6% × 36% = effective ~2.2% on the balance — meaning MMF-based products are tax-disadvantaged in the Netherlands vs bank deposits. This is a big consideration for Dutch residents.
Spain (base del ahorro)
- Up to €6,000: 19%
- €6,000-€50,000: 21%
- €50,000-€200,000: 23%
- €200,000-€300,000: 27%
- Above €300,000: 30% (since 2025)
Modelo 720 disclosure required for foreign assets above €50,000 — relevant for almost all platforms in this comparison.
France (PFU 30%)
Flat 12.8% income tax + 17.2% social contributions = 30% on interest and investment income. Optional progressive election available.
Italy (26% imposta sostitutiva)
Flat 26% on foreign deposit interest and foreign investment income. Quadro RW disclosure required for foreign accounts.
Pros and cons of each
Trade Republic
Pros: unlimited rate, no fee, German DGS, easy-to-use broker app, available in 17 EEA countries. Cons: EUR-only, variable rate (no lock-in), opaque allocation across partner banks.
Raisin
Pros: rate certainty up to 60 months, ability to spread DGS across multiple jurisdictions, top rates in market. Cons: illiquid (no early withdrawal without penalty), top offers come from smaller EU banks, Modelo 720 / Quadro RW reporting overhead.
Wise Interest
Pros: multi-currency yield, instant access, integrated with global multi-currency account. Cons: investment not deposit (no DGS), Box 3 investment band penalty in NL, eligibility varies by country.
Bunq Easy Savings
Pros: real Dutch bank with full DGS, sub-account organisation, instant SEPA, multi-currency capability. Cons: monthly subscription fee, headline rate below Lightyear/Trade Republic at base tier.
Lightyear Cash
Pros: highest headline EUR/USD rates, multi-currency, no fee, instant access. Cons: ICF €20k cap (much lower than DGS €100k), MMF investment not deposit, Estonian regulator less familiar to Western European customers.
Who should use which platform
Emergency fund (€10-30k EUR, accessible within days)
Trade Republic 2.25% — the ECB deposit rate passed through 1:1, DGS protection and broker convenience in one place.
Scalable Capital pays 2.60% with no cap as the uncapped alternative; bunq is the runner-up if you want a current account with up to 3.01% on savings.
Large EUR holdings (€100-500k) wanting full deposit protection
Raisin — spread across partner banks in different EU jurisdictions to stack DGS coverage. Each bank is €100k protected.
Locking in today's rate before further ECB cuts
Raisin — lock 1-2 year fixed-term deposits at ~3.0-3.1% (up to ~3.5% for 7 years) if you can forgo access.
Multi-currency freelancer or remote worker
Wise Interest — already paid into Wise multi-currency, so no conversion friction. Or Lightyear for slightly higher rates.
Highest USD yield in the EU
Wise USD 3.44% net — for dollar cash Wise's money-market fund is the transparent option; Lightyear's USD rate has also fallen with Fed cuts (check the app). Trade-off is investor-compensation cover (€20k ICF) rather than deposit insurance.
Yield + budgeting + spending in one app
Bunq Premium+ above €20k balance — the subscription is justified by the bundled bank features.
Dutch residents wary of Box 3 investment band
Bunq, Trade Republic, or Raisin — all bank deposits, qualifying for the lower deposit deemed return.
Germans wanting automatic tax withholding
Trade Republic — withholds Abgeltungsteuer at source for German residents.
People with under €5k in cash
Trade Republic or Lightyear — both have no fee, so the entire yield accrues to you. Avoid Bunq plans at this balance level.
FAQ
Q: Which platform is the absolute safest?
"Safest" depends on definition. Bunq is the only real bank with full DGS in the set. Trade Republic offers DGS via four partner banks (theoretically up to €400k coverage). Raisin offers DGS at the chosen partner bank. Wise and Lightyear are MMF investments — extremely stable in normal conditions but technically not deposit-protected.
Q: Can I use multiple platforms simultaneously?
Yes — many investors use 2-4 platforms to spread yield, currency exposure, and DGS coverage. Just remember that funds in transit between platforms (SEPA delays) earn nothing.
Q: What happens to all these rates when the ECB cuts?
Trade Republic, Lightyear, Wise, and Bunq all adjust within days of an ECB move (typically dropping the headline by similar amount). Raisin fixed-term deposits hold their rate to maturity — that is their key advantage in a falling-rate environment.
Q: Is there one platform that does everything?
No. Each has a specific strength. Most active savers run a combination: Trade Republic for emergency fund, Raisin for medium-term locked deposits, Wise or Lightyear for multi-currency, Bunq for spending + savings combined.
Q: Are any of these available outside the EEA?
Wise has the broadest global footprint (175+ countries). The rest are EEA-focused, with country-by-country availability — check each platform's signup flow for your specific country.
Q: Do any pay a welcome bonus for opening an account?
Trade Republic occasionally runs €25-€50 referral bonuses. Raisin runs cash bonuses on first fixed-term deposit. Bunq waives first-month subscription occasionally. Lightyear has run free-share promos but rarely cash bonuses on Cash. Always read T&Cs.
Tracking blended yield across platforms
If you spread €60k across Trade Republic, Raisin (3 deposits), Bunq, and Lightyear, calculating your true blended after-tax yield is genuinely tedious. Freenance lets you log each balance with its rate, currency, maturity date, and applicable tax — then see consolidated yield, upcoming maturities, and net annual interest projection in one place.
Compliance disclaimer
Rates change with central bank decisions. Headline figures (Trade Republic 2.25%, Scalable 2.60%, bunq up to 3.01%, Wise 2.02%, Lightyear ~2.22%, Raisin fixed ~3.0-3.5%) were verified on 27 August 2026 and will move with the next ECB meeting.