Although the big banks continue to be cautious when it comes to offering great returns to their customers, as the experts from the financial comparator HelpMyCash.com explain, online banking and small banks are revolutionizing the deposit market in our country.
The repeated increases in interest rates by the European Central Bank have been responsible for the fact that in April we can find returns that reach up to 3.15% APR in Spanish deposits, something completely impossible a year ago.
For those who want the peace of mind that their money is protected by the Spanish Deposit Guarantee Fund (FGD), at HelpMyCash they have compared the best offers from national banks between 12 and 18 months.
The option with the highest profitability in this term is WiZink's 18-month deposit at 3% APR, one of the great surprises of recent weeks.
For example, if we contract this deposit with 30,000 euros, WiZink will pay us a total of 1,335 gross euros at the end of the period.
Among its advantages, it can be contracted from as little as 5,000 euros and the interest payment is quarterly. In addition, it is available to both new customers and those who already have an account with this bank and can be canceled ahead of time.
Another option is EBN Banco, which offers deposits ranging from four to 36 months. Your 12-month deposit offers a return of 2.55% APR and can increase to 3.15% APR if the 36-month long-term option is chosen.
Pibank is another of the Spanish banks that have joined in offering good benefits to savers. Its 12-month deposit has a return of 2.52% APR and among its advantages is that it does not have a minimum or maximum amount to contract it, the interest payment is quarterly and it accepts early cancellation.
The Mallorcan bank Banca March offers the 12-month Avantio Flexible Deposit with a 2.30% APR. Intended for new clients, it can be hired from 10,000 euros and its great advantage is that if it is canceled before the year, a 1% APR will be added to the return of the money deposited.
Other Spanish banks that offer similar returns for both new and current customers are Targobank, with a return of 2.30% APR for one year and reaching 2.50% in its 24-month option, or Self Bank, which has released a 12-month deposit with interest at 2% APR.
