Interest free Standard Account

[Isaac]

Dear Freetrade

I’d like to sign up to a Standard Account but there’s a 1% interest accruing on un-used balances.

Given Islamic financial principles discouraging investing in a system where you make money on money (i.e. paper money, ensuring ballers continue to ball, and society is structurally tipped to the ballers), vs asset-based growth, I can’t switch to the Standard or Premium account.

Is it possible to have a non-interest Standard and/or Premium account? … Maybe 1% or 3% of un-used balance equivalent invested in an Index or something other to ensure the incentives are similar?

Best,
Isaac

[danbeddows]

I’m not sure whether you can use the unused balance to invest in an index or otherwise.

But you can have the standard or premium account be interest free. I’ve just had a search for the help article in the app and found this