Overnight money alternative: NAO pays 2.40% p.a. interest on balances in settlement accounts

Berlin, 20.02.2024 - The Berlin-based FinTech NAO is now offering its customers interest on their balances. WealthTech grants an interest rate of 2.4% p.a. retroactively to February 1, 2024 on the balances of their settlement accounts. The innovation gives NAO users an additional opportunity to build up wealth and thus benefit from the advantages of the current interest rate environment. Robin Binder, CEO of NAO, emphasizes: “It is only fair and in partnership to offer our investors a positive interest rate on their uninvested assets at the current interest rate level.”

Customer feedback leads to product innovation

The introduction of interest rates is based on customer feedback. “We are in close contact with our customers. Many from the NAO community have asked for an interest rate. We took this seriously and implemented it directly. And with no minimum or maximum investment,” explains Robin Binder.

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Interest on settlement accounts in the private market sector is a customer-friendly innovation. “The background is a special feature of private market products: Here, it can take a few weeks between placing and executing the order before the invested money is invested in the target investment. But we want our clients' money to always work for them — even during this waiting period.” With its new offering, the FinTech NAO exceeds the interest rate of many current accounts and brokers and thus represents an attractive alternative to overnight money.

No minimum or maximum deposit

The current annual interest rate is 2.4% p.a. for balances in NAO settlement accounts. It is based on the deposit rate of the European Central Bank (ECB). The interest rate is automatically adjusted in the event of changes in the ECB's key interest rate, excluding a negative interest rate. “We deliberately want to speak out for more justice and transparency. We are therefore implementing the new offer for everyone who wants to invest in NAO or already has. Completely without a time limit, minimum or maximum investment,” says Robin Binder.

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Access to the deposited money remains flexible, so that transactions can be carried out or the money can be withdrawn again at any time. The interest credit takes place monthly and can be viewed in the transaction history of the NAO app. The balances in NAO settlement accounts are held by the German Baader Bank. They are subject to statutory deposit insurance up to an amount of 100,000 euros. Using the NAO app is free of charge and requires no additional subscriptions to receive interest on the settlement account.

About NAO

NAO is a novel co-investment platform — the family office for your pocket. The mission of the NAO founding team led by Robin Binder, Philipp Nowakowski and Amel Hasanovic is to liberalize investments and help people build up wealth over the long term. In the NAO app, investors can find carefully selected and exclusive investment options that were previously only available to a small financial elite. For its offering, Berlin-based WealthTech, founded in 2022, cooperates with Baader Bank as a custodian bank and banks such as UniCredit, UBS and Vontobel. In regulatory terms, NAO uses a liability umbrella for investment brokerage and works as a contractually bound broker for DonauCapital Wertpapier GmbH.

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