What is the XTB Savings Account?
XTB is a Polish broker regulated by the CNMV that has incorporated an interest-bearing savings account into its investment platform. Unlike traditional banks, XTB is not a bank, and funds are not covered by the Spanish Deposit Guarantee Fund (FGD), but rather by the Polish investor compensation scheme (up to €22,222).
Current offer: 3.5% for 3 months
XTB is currently advertising an annual rate of 3.5% for the first 3 months for new customers. This is a promotional rate. After this period, the return adjusts to the standard variable rate, which has historically been below 2.5%. It is essential to keep this in mind when comparing with non-term accounts such as those offered by Trade Republic or MyInvestor.
Key differences from a bank account
- XTB is not a bank—your funds are held in a cash account within the brokerage
- Coverage is €22,222 (Polish system), not €100,000 like the Spanish FGD
- Yields may change without prior notice
- Access to funds is fast but subject to the broker’s withdrawal processes
Who is this for?
If you’re already an XTB client and have idle cash in your account, taking advantage of the interest is reasonable. For someone specifically looking for the best savings account, the limited guarantee and promotional nature of the 3.5% rate make it less attractive than banking alternatives with full deposit insurance.
Quick comparison
Trade Republic offers a permanent 2.02% with a European guarantee. Revolut offers 2.27%. Raisin deposits exceed 2.40% with each bank’s deposit insurance. XTB’s promotion is only worthwhile if actively managed and withdrawn at maturity.
Conclusion
XTB’s 3.5% is real but temporary. For liquidity with maximum security, bank savings accounts with Spanish deposit insurance remain the benchmark. Check the full comparison tool to see all the updated options.