the An unstoppable race for central banks to raise interest rates In its fight against inflation it has brought negative effects, such as A Significant rise in mortgagesbut it has also created positive effects for those who seek a return on their savings without risking too much.
Although the major Spanish entities are slowing down in this regard and resisting improving savings bonuses, other smaller entities are taking advantage of this moment to win clients with higher returns, whether in deposits or checking accounts. Some returns on bank accounts reach 5%, although deposits are delayed.
Olivia Feldman, co-founder of financial product comparator HelpMyCash, analyzes how fixed-term profitability has grown compared to the trek through the desert in the era of zero rates. In January last year, the average interest on deposits was 0.04%, according to Bank of Spain dataAnd last May they reached an average return of 1.64%, which is the highest rate since January 2014, collapsing.
In general, Spanish banks continue to lag behind European banks when it comes to paying savers. The most interesting options in one year deposits already exceed 3%, thus rubbing shoulders with The yield on treasury bills, in small entities online. And on Raisin, a platform that allows you to buy financial products from other European countries, there are single deposits of more than 4%.
Deposits: a market that has regained its temperature
After a winter in which the supply of deposits hibernated and a spring in which banks seemed sensitive to deposit equivalents, the temperature rose very quickly, but unevenly. As the Kelisto comparator pointed out, to this day none of the five big Spanish banks have bet deposits in their offerings to clients, concentrated in funds.
From the comparison, they noted that Banco Santander was the only one of the big boys to endorse this product, although only through its online bank. In February, I launched – through Openbank – a 12-month deposit Which, as of today, offers 2.75% APR for customers who deposit their payroll directly and 1.75% for those who don’t. On Thursday, Openbank upped the stakes with a 6-month deposit that pays 3.07% if salaries or pensions are paid directly..
This is the case and after the exception that confirms the rule, if you want profitability in the form of a deposit, you have to look beyond the large entities. Banco Mediolanum currently holds the top spot in the six-month profitability rating, and it does so from a wide distance, too, although with strong conditions as well. your deposit Mix Plus in 6 months at an annual interest rate of 5% It is unparalleled when it comes to profitability. However, in order to access it, Mediolanum acknowledges that the investment products it manages must be contracted at three times the value of the amount deposited. In other words, if a contribution of 2,000 euros is made, a minimum contract, investment funds or other products of 6,000 euros must be contracted.
The second most profitable deposit is Deposit 4.0, also from Mediolanumoffering 4% in return for the settlement of salary, pension, or contracting for other investment products of at least 3,000 euros.
Banque Reno holds the title of having the most profitable deposit among those who do not ask for any additional condition in return in the form of a relationship with the entity. With limits ranging from 500 as a minimum, Reno Bank pays 3.65% per annum for 24 months.
For its part, the entity BFF Bank, which operates under the Facto brand and under the umbrella of the Italian Deposit Guarantee Fund, has 12-month deposit at 3.55%. Banco Finantia offers a 3.5% APR at 12 months in its irrevocable method and 3% in it. Pibank, with an annual interest rate of 3.34% in 12 monthsis one of the few cases where there is no minimum amount. Myinvestor pays 3% APR for one year.
Outside of Spain, it is possible to see Raisin on the European financial product contracting platform Offers from Italian and Portuguese banks for 12 months with returns of up to or exceeding 4%. The minimum deposit is 10,000 Euros.
Paid Accounts: There is life beyond not paying commissions
Although deposits require funds to be left parked for a certain period, there are other savings options that provide greater liquidity. Despite the fact that banks sell not charging commissions on their accounts as a huge advantage for savers, there are actually bank accounts that not only charge the customer but also reward him.
In this product, the big banks put maximum attention to trying to win customers. “The accumulation of liquidity that Spanish banks have achieved in recent years, the cleaning up of their balance sheets and the fact that they rely less on large clients than other European entities explain, to a large extent, why local entities do not need to start reimbursing their deposits and prefer to rely on products such as interest-bearing accounts, many of which are subject to important links and, therefore, allow Estzlez’s spokesperson to win long-term customer comments.
However, again, as with deposits, larger banks are less generous with their customers than smaller banks are. With one exception, Bankinter. While banks such as BBVA or Santander reward in the form of returning part of the receipts, How firstor a single payment of €350 if the payroll is domiciled, How the secondthe entity run by Dolores Dancausa It offers a 5% return during the first year up to a maximum of 10,000 euros for its clients. After the first year, the account pays 2% APR. In exchange, Bankinter asks for direct bills and a salary or pension of more than 800 euros per month.
CaixaBank I had an account at the beginning of the year which included a TV gift or a 5% APR of up to €5,000, decided not to extend its offer beyond June. On the contrary, Banco Sabadell also stands out from the general trend among the major entities and offers 2.5% up to €30,000 without the need for payroll or direct receipts.
Apart from the big banking names, Banque Reno also appears at the top in the ranking of the most profitable interest-bearing accounts in Spain. The entity pays 2.63% APR, don’t set wage limits and don’t ask for payroll or direct debit from receipts. targobank It offers 2.53% APR, but in order to be able to collect this percentage, you must have a liability with the entity in the amount of 10,000 euros and a direct debit payroll. Again, in the group of those who don’t ask for links, Evo Banco and 2.5% APR Apply up to a maximum of 30,000 euros.
Deutsche Bank has also joined the fray to win new customers at a cost with its company Plus db account, although it does not directly compete with the aforementioned entities as it directs its offering to high-income customers. The entity gives a bonus of 30 euros per month for a year, equivalent to 360 euros per year, to new clients who direct their salaries from 2,000 euros per month. In addition, it pays 2% APR in the first year for balances equal to or greater than €50,000 and up to a maximum of €500,000.
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