Twelve-month fixed-term deposits have experienced a second youth thanks to the European Central Bank (ECB). The increase in interest rates carried out by the organization has allowed these products to offer high returns, making them an attractive option for conservative investors. Currently, in the market there are at least three entities that offer remunerations of 4% APR or more.
However, the comparator HelpMyCash recommends to this type of saver that, if they are interested in making money grow through a deposit, they do so as soon as possible: “Banks have already begun to cut the interest they offer on their fixed terms in advance. to the ECB, which could cut rates at the end of the first half.” From the comparator they point out that, for now, they are slight decreases, but it is foreseeable that this downward trickle will continue in the coming months.
The ranking of the best deposits prepared by HelpMyCash is led by the BAI Europe bank.
The entity of Portuguese origin offers a profitability of 4.20% APR over twelve months and is available from 10,000 euros. Second place also goes to the Portuguese entity Haitong, with an interest rate above 4% (4.10%), also for amounts of 10,000 euros.
They are followed by Banca Progetto, with a twelve-month fixed term at 4% APR, a more than attractive interest rate if you take into account that rates in Europe are at 4.5%.
The deposit is available for balances between 10,000 and 100,000 euros.
For lower amounts, a good alternative is the one-year deposit from Fjord Bank, since it can be contracted for as little as 1,000 euros and gives access to a return of 3.70% for one year.
Closing the classification is Coop Bank, which offers an interest rate of 3.60% APR with the possibility of investing from 5,000 euros.
Although they are European banks, HelpMyCash remembers that "these products offer a guarantee to conservative savers, since their money will be protected up to 100,000 euros per holder and account through the Deposit Guarantee Fund of each country."
Remunerated accounts are also an attractive option for this type of investor, because with them you can obtain interest on the deposited balances, but in these cases, the saver will have access to their money without having to wait for the deposit maturity date.
In this section there are also products that offer high profitability in an environment of falling rates, such as the one that is coming in the coming months. In this sense, the Trade Republic paid account stands out, the most profitable at the moment, with a 4% APR for amounts up to 50,000 euros, which would allow profits of 2,000 euros.
In addition, it has the protection of the Deposit Guarantee Fund and gives access to a debit card that returns 1% of purchases, which is invested in a pension plan and has no commissions.
Another interesting option is the Sabadell Online Account, from Banco Sabadell, which offers a remuneration of 6% TIN for the first three months and then 2% TIN for a maximum balance of 20,000 euros. The total profitability is 3% APR. This account also has no commissions nor does it require payroll direct debit.
Finally, the N26 account stands out, with a remuneration of 2.26% APR without a maximum amount. In addition, this account allows you to withdraw money three times from any ATM in the eurozone for free and does not have any commissions or any type of connection.
