Price crisis, soaring inflation, recession... The news has not been very encouraging in recent months. The energy crisis that has been dragging on for more than a year now, and which has been aggravated by Russia's invasion of Ukraine, has turned the socioeconomic panorama upside down.
With the price of electricity so high and the shopping cart increasingly expensive, many people have thrown themselves into savings: the air conditioning has not been abused in summer —or it has not been turned on at all—, this winter more will be sold blankets and boiler fill will drop, while major purchasing decisions are left for later.
With inflation at 6.8% in Spain —the latest INE data for November— and with a record of 10% in the euro area, it is normal for the scenario to be perceived as difficult, but what if it were also possible to increase the money box? savings under this situation?
"It may sound like science fiction and that we will have to put aside some of our 'whims', but everything is possible if it is done in the most rational way," say the experts of the financial comparator HelpMyCash.
They emphasize that saving is not only in not spending, but that there are financial products that can help increase the balance of the bank account in the simplest way and with complete peace of mind. “Remunerated accounts are an alternative to make savings profitable without taking much risk. It is true that the remuneration currently offered by banks is still not very high, however for those who do not want to take big risks and prefer to have their savings at their fingertips, it is an option to take into account”, they point out from HelpMyCash.
A remunerated account is one that is used to store money and with which the bank pays a series of interest on the amount deposited —fulfilling a series of conditions. It should be noted that these types of accounts are protected by the Deposit Guarantee Fund (FGD) of Spain, which ensures that the money will be safe —as long as it does not exceed 100,000 euros per holder.
In addition, they may be a good option because entities are raising remunerations, coinciding with the biggest rise in interest rates from the European Central Bank (ECB).
Among all the remunerated accounts on the market, the Sabadell Online Account stands out, which remunerates the first 30,000 euros at 2% APR for a year and also gives 175 euros to new customers who direct deposit their salary (of any amount). The account has no maintenance fees. The opening process is completely online and can be done in ten minutes from your mobile phone. The offer is available until January 10, 2023.
Raisin is another alternative. This online platform allows you to contract deposits and interest-bearing accounts in banks in several European countries and achieve much higher returns than those that can be earned in Spain. In addition, all products are guaranteed by the European deposit guarantee funds of each country, which have the same coverage as the Spanish one.
In this way, in Raisin, the Lea Bank Savings Account has a return of 1.09% APR for savings of between 5,000 and 100,000 euros. It has no commissions and is 100% online.
For its part, the Klarna Savings Account, a Swedish fintech with a banking license, offers a 1.05% APR with quarterly interest payments. The interest rate is variable, so it can change at any time. All customers will be duly informed in the event of an update.
“Remember that banks often offer these types of products to attract new customers. It is important that when you decide to open a remunerated account that requires a link, you evaluate if you can meet all the requirements or otherwise you could be forced to pay commissions ”, warn the experts of the financial comparator.
