Scalable Capital Launches Fixed-Term Deposits in Austria with Rates Up to 3.25%

Scalable Capital is intensifying the competition for Austrian retail deposits by launching fixed-term accounts paying up to 3.25 percent interest. This move, following the establishment of a local branch in Vienna, signals a shift in neobroker strategy toward localized banking services as they challenge incumbents and rivals like Trade Republic and Revolut for market share.

What was announced

The Munich-based neobroker is introducing fixed-term deposits with three different maturity options, allowing customers to invest from as little as €1 with no upper limit. Users can manage up to five separate fixed-deposit accounts simultaneously, with funds transferred in real time from brokerage or savings accounts. The interest rate remains locked for the duration of the term, and the product carries no account or transaction fees.

This launch follows Scalable Capital’s October expansion in Vienna, where it began automatically withholding Austrian capital gains tax—a significant administrative advantage for local users. In contrast, Scalable’s instant-access savings account currently pays 2.60 percent. This variable rate is calculated based on the European Central Bank’s deposit rate minus one percentage point, plus a 1.1 percentage point bonus which is only guaranteed until the next E.C.B. meeting.

The competitive landscape in Austria remains fragmented. Trade Republic currently offers 3.00 percent on balances up to €50,000 for new Austrian customers, though existing users receive 2.50 percent unless they secure referrals. Revolut provides yields ranging from 1.00 percent on its Standard plan to 2.00 percent on its Ultra tier. Notably, Revolut does not yet automate Austrian tax withholding, a feature not expected to arrive until its local branch and IBANs are established in 2027. Despite these competitive rates, none of the offers currently outpace Austrian inflation, which was estimated at 3.6 percent in October.

The companies involved

Scalable Capital is a prominent European neobroker and wealth manager headquartered in Munich. Since its inception, it has positioned itself as a primary platform for retail investors, offering a combination of brokerage services, robo-advice, and interest-bearing accounts. The firm has increasingly focused on localized services to better compete with traditional banks and digital-first rivals in the DACH region.

Trade Republic, based in Berlin, is one of Europe’s largest savings platforms and has frequently used aggressive interest rate offers to acquire customers across the continent. Revolut, meanwhile, has evolved from a travel-focused fintech into a global financial "super-app." While it boasts a massive user base and a broad suite of features, its interest rate products in specific markets like Austria have historically lagged behind specialized brokerage firms. Revolut is currently undergoing significant global expansion, recently securing major valuations and new banking licenses to solidify its position as a dominant force in the digital banking sector.

What FF News has reported before

FF News has extensively tracked the growth of these digital challengers, particularly Revolut, which has been the subject of 264 reports. Recent coverage includes the company’s milestone of reaching a Revolut Hits $115 Billion Valuation Following Global Banking Expansion and Record Profits. We also reported on its regulatory progress, such as becoming Revolut Becomes New Zealand’s First Digital Bank with Landmark Licence and NZ$120m Investment. Beyond core banking, Revolut has diversified into the Revolut Disrupts Irish Telecom Market with 5G Mobile Plans and RevPoints Integration and engaged in high-profile branding, such as its Revolut Unveils Bespoke Audi F1 Livery and Special Edition Card for São Paulo Grand Prix.

What this means

This move highlights a maturing neobroker market where "interest rate wars" are no longer just about the headline figure, but about operational localization. By automating tax withholding, Scalable Capital removes a major friction point that has historically protected local incumbent banks from international fintechs. However, the broader industry faces a credibility gap: with inflation persisting, even these "top" rates result in negative real returns after tax. The pressure is now on Revolut and Trade Republic to match these localized features or risk losing the high-value, tax-conscious segment of the European savings market to more specialized regional players.