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Paid daily. No minimums or limits.
Withdraw anytime.

If you enable interest, we will hold your cash in qualifying money market funds and banks. Otherwise, we will hold it only in banks. Interest applies on cash in an investment account. Terms apply. When investing, your capital is at risk.

Simple terms

No balance limits

Earn interest on your entire uninvested cash balance, big or small. One rate for all.

No withdrawal restrictions

Your cash is always free to use. Withdraw or invest it at any time without an impact on your interest rates and without any penalty fees.

You get paid daily

Your interest is paid daily, maximising your earnings

Earn interest in 0 global currencies

Deposit, invest, and hold cash in multiple currencies within a single account. Convert with just 0.15% FX fee.

Learn more

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You are in control

Stay on top of your earnings and get real-time info about current interest rates.

Enable or disable interest on cash anytime.

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All stats are global. The clients figure refers to lifetime funded accounts.

Excellent

Rated 4.6 / 5 based on 98,954 reviews on

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Rated 4.6 / 5 based on 98,954 reviews on

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Transferring my ISA

Transferring my ISA to Trading 212 was easy and straightforward.

Janice Susan Grey

3 days ago

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Easy to use

Easy to use. Updates in real time. Investing process is easy, selling instant. Recommended

Daren Booth

3 days ago

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Good interest rate on savings

Good interest rate on savings with instant access to your money - easy app to navigate

Elaine Denton

3 days ago

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Excellent app for retail amateurs

Excellent app for retail amateurs , user friendly and clever

Loyal customer

3 days ago

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Great service and interest rates…

Great service and interest rates setting up was easy and I’m kept up to date

christine andrew

3 days ago

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Been using it for 7 years

Been using it for 7 years, its eazy to use, eazy to buy and sell shares,good user interface

Saraev Andrei

3 days ago

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Exceptional Company

Exceptional Company. Superb App. Helpful tracking of investments. Reliable and trustworthy. ***** HIGHLY RECOMMENDED *****

CornwallClive

3 days ago

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Very flexible

Very flexible. Can manage positions just how I want it within ISA.

Michael

4 days ago

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Easy to set up

Easy to set up. Good information and good regular notifications. Also a good rate with Martin Lewis code

Emma C

4 days ago

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Great app

Easy to deposit and withdraw cash, decent return for no risk to capital, been using this account for a few years and the app is so easy to use.

Stuart Mcmurdo

4 days ago

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Fantastic app

Fantastic app, great range of products and super low fees. 10/10

Ben Wallbridge

4 days ago

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Simple and easy to use

Simple and easy to use, great user interface

William James Buckley

4 days ago

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Great experience

I always have a great experience with Trading 212! The platform is easily accessible and incredibly easy to use

Hennessy Phipps

4 days ago

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Amazing

It has been a great 4 years experience with Trading 212

Enzo Francescon

4 days ago

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Easy to use app

Easy to use app, from opening account to seeing it grow

RODDY

4 days ago

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Very easy to use and take money out and…

Very easy to use and take money out and deposit in account within minutes.

Bruce

4 days ago

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Seamless experience

Seamless experience. Very easy and straightforward to set up and keep track of your account. Absolutely love it!

Sindi

4 days ago

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Trading 212 keeps me up to date with…

Trading 212 keeps me up to date with the interest I’ve earned & helps me understand other opportunities to invest if I wish

Nina Snell

4 days ago

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Really quick and easy

Really quick and easy. My documents needed to be verified but this only took 24 hrs. Regular emails keeping me updated

customer

4 days ago

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Best trading app I switched from free…

Best trading app I switched from free trade and absolutely love it

Georgia Hawkins

4 days ago

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Frequently asked questions

What is uninvested cash?

Uninvested cash is any cash that you have not invested in instruments like stocks and ETFs. Uninvested cash is held in banks and QMMFs. Learn more about QMMFs below.

How does it work?

Enable interest on cash and start receiving daily interest on the cash in your account.

Which account types are eligible for interest?

All accounts are eligible for interest.

What are the current interest rates?

In the app, tap on 'Earn Interest on cash', and you will find the current interest rates. You can also see our terms and fees.

Are there any min or max balance requirements to earn interest?

There are no minimum or maximum balances requirements.

How do I enable the interest?

Login to your account, tap on 'Earn Interest on cash', follow the instructions and tap the 'Enable' button. You'll need to consent to having your cash held in qualifying money market funds (QMMFs).

What if I don't want to earn interest?

You can disable at any time via the 'Interest on cash' dashboard in your app.

How does Trading 212 hold my cash to earn this interest?

As we’re not a bank, we use a mixture of products and vehicles such as qualifying money market funds, time deposits, and current accounts. This is why it’s mandatory to accept QMMFs to receive interest.
You can see how your cash is held at any time from your interest on cash dashboard. This data’s updated once per day at midnight and is based on your settled cash balance. Learn more about settled cash balances here.

What's a qualifying money market fund (QMMF)?

A qualifying money market fund holds mainly short-term, low-risk financial assets, aiming to maintain a stable value. These funds are designed to be low-risk places to keep your cash while earning a bit of interest, and they're often used for the cash portion of retirement or investment accounts. They're called "qualifying" because they meet certain regulations that allow them to be considered as cash equivalents.

Who uses QMMFs?

Pension funds, insurance funds, banks, and other major financial institutions.

These institutions typically use QMMFs to hold large amounts of money. Over €1 trillion is held in QMMFs in Europe and over $6 trillion in the USA as of January 2024.

How is the daily interest payment calculated?

Daily interest payments are calculated using the industry standard AER formula:

(1+r/n)^n - 1, where
  • r = interest rate
  • n = compounding frequency (365.25 days)

We use 365.25 days to account for leap years.
Example
USD AER = 5%
USD cash balance = $1,000
  • Daily payment (DP) = Cash balance * [(1 + AER) ^ 1/365.25 - 1]
  • DP = $1,000 * [(1 + 0.05) ^ 1/365.25 - 1]
  • DP = $1,000 * (1.05 ^ 1/365.25 - 1)
    • 365.25th root of 1.05 = 1.00013358
  • DP = $1,000 * (1.00013358 - 1)
  • DP = $1,000 * 0.00013358
  • DP = $0.13358

How often do I get interest?

Interest payments are made daily, rounded down to the nearest cent. Amounts below 0.01 are carried forward.
If the daily interest falls below a 0.01, it will accrue until reaching a 0.01 or more, at which point it will be paid.

Do I have to pay taxes on the earned interest?

This depends on your tax residency and the type of account you hold with us. This is not personal tax advice and in case of doubt, you should contact a tax advisor or the relevant tax authorities. In summary:
  • If you are an ISA account holder, your interest does not suffer any withholding tax and you do not owe any additional tax.
  • If you are a UK tax resident, and depending on your personal circumstances, you may need to pay tax (via your personal tax return) or may be eligible for a refund of tax. You will need to contact HMRC directly with any specific taxation questions as we are unable to offer personal tax advice.
  • If you are a non-UK tax resident, and depending on your personal circumstances, you may need to pay additional tax, while your ability to receive a refund will depend on whether there is a double taxation treaty between the UK and your country of residency. In both cases, you should contact the relevant tax authorities with any queries.

Which currencies earn interest?

In the app, tap on 'Earn Interest on cash' and you'll find which currencies earn interest. You can also find them on our terms and fees page.

What happens if I don't opt in for the higher interest?

If your account's opened prior to 11.12.2023, you will continue receiving interest until 12.02.2024. If you want to receive interest after this date, you'll need to enable it manually from the dashboard.

Is my money still protected?

Where we hold your money with a bank, you are protected by the FSCS up to a limit of £120,000. Learn more about how your money is protected here.

Money placed with a QMMF is treated as an investment and not as money held with a bank. In the unlikely event that the QMMF fails to maintain their low-risk strategy, as with any investment, the protection will not be available. We carefully select all QMMFs to ensure that they are highly liquid, stable in value and maintain their highly regulated status.

Can QMMFs go down in value?

If a QMMF in which your cash is invested in goes down in value, this may affect the value of your uninvested cash held in the QMMF. However, to manage this risk, we select only high-quality QMMFs and we monitor them frequently. Learn more about the risks of QMMFs and how we manage them here.

How much of my money is held in QMMFs?

You can see your cash holdings in QMMFs and banks through the app's interest on cash dashboard, and in the 'Cash in banks' and 'Cash in QMMFs' sections of your account activity and monthly statements.

How often do interest rates change?

Interest rates are based on rates we receive from the banks and QMMFs we hold your cash with. These rates are based on the central banks' rates, like the Bank of England's base rate. If the central bank rate changes, you can expect a change in the interest on cash.