Scalable Capital Launches Fixed-Term Accounts Up to 3.00% Interest and Boosts Overnight Rate

Scalable Capital has expanded its banking suite by introducing fixed-term savings accounts and increasing interest rates on its overnight deposits. This move signals a strategic push to capture a larger share of the European retail deposit market, offering fintech users a bridge between high-yield savings and long-term brokerage investments within a single ecosystem.

What was announced

The Munich-based firm has launched the Scalable Fixed-term account, allowing savers to lock in interest rates of 2.75% p.a. for a 12-month term or 3.00% p.a. for a 24-month term. Simultaneously, the bank has increased the variable interest rate on its flexible Overnight account to 2.60% p.a., applicable to unlimited balances. These products are designed for immediate accessibility, featuring no minimum deposit requirements, monthly interest payments, and dedicated IBANs to facilitate real-time deposits and withdrawals.

The fixed-term offering is fully integrated into the existing Scalable app, allowing clients to hold up to five such accounts at once. For existing users, funds can be transferred in real-time from broker clearing accounts or the Overnight account to trigger immediate interest accrual. At the end of the term, the platform provides an automated process where principal and interest are returned to the clearing account or can be automatically reinvested into a new fixed-term product to maintain compounding effects.

Beyond individual savings, the bank is targeting families through its "Kid’s account" feature, which allows parents to open Overnight or Fixed-term accounts in their children's names. This initiative is supported by data from market research firm Appinio, which found that 70% of German parents still rely on traditional savings products for their children. Furthermore, Scalable Capital is accelerating its international footprint by opening a physical branch in Milan. This Italian expansion includes the provision of local Italian IBANs and the automated handling of capital gains tax, specifically tailored to the regulatory requirements of the Italian market.

"Whether savers seek certainty or want to retain full flexibility, we offer a compelling home for their savings," says Erik Podzuweit, Founder and Co-CEO of Scalable Capital. "With 2.60% p.a. on flexible Overnight accounts and our new Fixed-term accounts of up to 3.00% p.a., clients can perfectly match their savings to their goals – while continuing to invest for the long term through our broker."

Erik Podzuweit, Founder and Co-CEO of Scalable Capital.

The companies involved

Scalable Capital is a prominent European digital wealth manager and neo-broker headquartered in Munich. Founded by Erik Podzuweit, Florian Prucker, Adam French, and Professor Stefan Mittnik, the company has evolved from a robo-advisor into a comprehensive financial platform. It now operates as a full bank, providing a wide range of services including ETF and stock trading, savings plans, cryptocurrencies via ETPs, and credit products. The firm currently serves savers and investors across Germany, Italy, Austria, Spain, France, and the Netherlands.

The company’s leadership includes Erik Podzuweit and Florian Prucker as Co-CEOs, with Ina Froehner serving as VP Communications & Public Affairs. Scalable Capital has positioned itself as a primary competitor to traditional European retail banks and other neo-brokers by consolidating brokerage, savings, and financing under one roof. Its product suite includes Scalable Credit, which offers loans up to €250,000, and upcoming retirement accounts designed to align with government pension reforms. Appinio, the research partner mentioned in the announcement, is a global market research platform that provides representative survey data to help companies understand consumer behavior.

What FF News has reported before

FF News has closely tracked the transformation of Scalable Capital from a specialized investment tool into a diversified banking entity. In September 2025, we reported that Scalable Capital is Now a Bank, a pivotal moment that allowed the firm to offer its own deposit and lending products. This was followed in March 2026 by the news that Scalable Capital Launches Overnight Savings Account with 2.50% Interest, marking its initial entry into the high-yield savings space.

More recently, the firm has focused on sophisticated investment products and technology. In August 2026, we covered how Scalable Capital and Xtrackers Launch Europe’s First 2x Leveraged World ETF for Retail Investors. This was quickly followed by another major technical milestone when Scalable Capital Launches Agentic Investing: Europe’s First AI-Open Banking Platform, highlighting the company's commitment to integrating artificial intelligence into the retail trading experience.

What this means

The introduction of fixed-term accounts at the 3.00% threshold is a direct challenge to traditional European incumbents who have been slow to pass higher interest rates on to retail depositors. By integrating these savings products directly with a brokerage clearing account, Scalable Capital is attempting to solve the "idle cash" problem, ensuring that user capital remains within their ecosystem rather than leaking back to legacy banks. The move into Italy with local IBANs is particularly significant; localization is the primary hurdle for pan-European fintechs, and providing domestic tax handling and IBANs removes the friction that often prevents mass-market adoption. This aggressive expansion puts significant pressure on other neo-brokers to match these yields and localized features.