Freedom24 raises money placement rates up to 6.4% in EUR and 8.8% in USD (as of 08.01.24)

Freedom Finance Europe continues to improve the conditions for its clients to keep free cash on the Freedom 24 investment platform ─ now the interest paid on the USD and EUR fund placements will be linked to the floating SOFR and EURIBOR rates. The new rates are more than 1.5 times higher than the company's previous offering. The changes came into effect on 8 January 2024.

Thus, the holders of savings D-accounts will receive the interest equal to the floating SOFR rate on their USD placements and the interest equivalent to the EURIBOR rate on their EUR placements. As of 8 January, the SOFR and EURIBOR rates were 5.31% and 3.888%, respectively. Previously, the D-account provided investors with a yield of 3% per annum for USD placements and 2.5% for EUR placements. Interest is accrued daily.

The yield on long-term fund placements also increased and now is 1.5 times higher than the SOFR and EURIBOR rates for a fixed term of 12 months. For 3-month and 6-month placements, coefficients of 1.1 and 1.25 respectively are applied to the SOFR and EURIBOR rates to calculate interest. In addition, the holders of long-term fund placements of more than 100,000 EUR/USD are eligible for a bonus of 0.4% to 0.8% per annum, depending on the currency and term of placement. Thus, as of 8 January, the maximum yield of Freedom24’s long-term fund placement plan, including bonuses, was 8.795% for USD and 6.422% for EUR. Previously, investors who chose this investment instrument received up to 6.12% for USD placements and up to 4.21% for EUR placements.

For both instruments there is no limit on the maximum investment amount, which favourably distinguishes Freedom24's offer from similar products on the market. The minimum investment amount to receive interest is USD/EUR 150 for a D-account and USD/EUR 1,000 for a long-term fund placement product.

Freedom Finance Europe has also changed its margin lending fee to 0.049315% per day in the Smart (EUR/USD) tariff and 0.041095% in the other tariffs, compared to the previous fee of 0.032877% per day.