2023-04-17 08:00:14
Online and medium-sized banks are the entities that are currently offering the best remuneration for deposits, raising them to 3% APR, according to data compiled by HelpMyCash.
The financial product comparator points out that, although foreign banks are “taking the lead” in the remuneration of savings with offers above 4% APR, and while the large Spanish banks continue without offering remunerated deposits, online banking is ” Spain brand” and medium-sized entities that are designing products for “conservative savings that do not want to take their money out of Spain”.
In this way, and taking into account that in February the average interest on fixed terms in Spain was 0.86% -according to data from the Bank of Spain-, some deposits in Spain are “well above”, reaching a remuneration of 3% APR.
“The offer of savings products could continue to improve in the future if the European Central Bank (ECB) raises rates again or if the big banks are encouraged to start remunerating their customers’ savings,” explain the comparator experts, who has analyzed some of the current offers in Spain.
Thus, it stands out that SelfBank, Cajamar, Banco Caminos and Caixa Guissona pay a 2% APR for twelve months, while the Avantio deposit from Banca March has a remuneration of 2.30% APR for one year. Targobank, for its part, offers interest of between 2.30% and 2.50% for a term of one to two years, and Pibank comes to pay 2.52% APR for twelve months.
Finally, the comparator values the proposal of WiZinkwhich offers an 18-month deposit and a return of 3% APR.
“All of the above entities pay net interest and are protected by the Deposit Guarantee Fund (FGD) of Spain that responds with the reimbursement of up to 100,000 euros per customer in the event that the entity goes bankrupt, ”recall the HelpMyCash experts.
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