German digital wealth manager Scalable Capital has collaborated with Raisin to offer a new service. Scalable Capital's customers with a portfolio account at Baader Bank can invest in fixed-term deposits with select European banks as part of a white label solution by Raisin that offers a choice of more than 20 different savings products.
The new service can be accessed via Scalable Capital's website and apps. This complements Scalable Capital's existing wealth management service with Raisin's partner banks, whose products in some cases significantly exceed the current average interest rate level. For German consumers, Raisin is best known under the brand WeltSparen.
"With this partnership we are complementing our product range with products that offer an attractive return without capital market risks. In addition to our automatically managed ETF portfolios for long-term wealth accumulation, our clients can now easily deposit their funds in European fixed-term accounts," says Florian Prucker, co-founder and co-CEO of Scalable Capital.
Fixed-term deposits are suitable for funds that are needed instantly or in the foreseeable future and should not fluctuate with the markets. Customers from Scalable Capital can deposit their funds with banks in Germany and the European Economic Area (EEA) at conditions that significantly exceed the current average interest rate in Germany of around 0 percent. In this way, customers can mitigate the effects of inflation. In line with EU law, all savings products of European banks are protected by the respective national deposit insurance up to an amount of 100,000 EUR per customer and bank.