The good side of interest rate increases. It is not the title of any film that will be released soon. It is a positive outlook for those who want to take advantage of the rising price of money.
To be specific, the current financial market offers returns of more than 3% APR. In this scenario, deposits continue to be a very attractive and popular tool for the money saved to generate more money, but they are not the only option. There are entities that allow you to take advantage of the complex economic context with the alternative of paid accounts.
Deposits continue to be the first choice when choosing a product that offers an interesting remuneration. In this sense, the experts of the financial comparator HelpMyCash highlight three that, for this month of November, exceed 4% APR.
The 1-year deposit from the Italian Banca Sistema is one of the ones that currently offers the highest profitability, being 4.40% APR. Of course, the term is fixed, it cannot be canceled in advance and to contract it requires investing between 20,000 and 100,000 euros. This deposit can be accessed through the German platform Raisin and this allows its contracting to be easy and fast. “Another point in its favor is that it has the Deposit Guarantee Fund (FGD) of Italy, and that guarantees capital up to 100,000 euros per entity and client,” the experts add.
A second option that also exceeds the 4% APR is the 1-year deposit from Banca Progetto. With the same term as the previous one, it offers a profitability of 4.30%, which is somewhat lower than that of Sistema, but the minimum investment is 10,000 euros instead of 20,000. Like Banca Sistema, it is protected by the Italian FDG.
The third product to review is the 1-year Facto Deposit. Its profitability, exceeding 4% APR, is lower than that of the two already mentioned (4.06% APR). However, it allows investing from 5,000 euros, it can be contracted directly from Spain.
The 12-month Avantio Flexible deposit from Banca March has a profitability of 3.30% APR with a minimum amount of 10,000 euros and a maximum amount of 1,000,000 euros with interest settlement at maturity. “In order to contract it, it will be necessary to have the Banca March Avantio Online Account open. It has no maintenance or administration fees as long as you comply with the bank's conditions,” point out the experts at HelpMyCash.com.
This is the newest on the market. This is a 12-month fixed term from MiraltaBank with a profitability of 3.25% APR. “Currently, among the Spanish fixed terms of 12 months, it is one of the most profitable that we can contract. Of course, we will need a minimum investment of 15,000 euros,” they indicate from the comparator. Although it is a Spanish bank, it is a product that can only be accessed through the Raisin platform. And like Banca March, it has the support of the Spanish FGD (up to 100,000 euros per client and entity).
But deposits are not the only way for money to move and generate interest. At this time, paid accounts are another possibility to consider. In fact, the market offers several that, without reaching the returns on deposits, have interesting percentages that exceed 2% APR. And they are an excellent option for those looking to maintain liquidity.
The MyInvestor Savings Account, which offers a return of 2.50% APR. In addition, it does not require having a payroll, it does not have commissions or conditions of any kind and you can hire it with a 100% online process. It is covered by the Spanish FGD, which guarantees up to 100,000 euros in each entity.
The N26 Savings Account, at 2.26% APR, offers several extra advantages such as the possibility of contracting it without commissions, without maximum amount and without permanence.
That's how it is. The Sabadell Online Account offers an indefinite return of 2% APR to which you can add 3% cashback on electricity and gas bills. In addition, it does not require a payroll, there are no commissions.
A profitability of 2.85% APR together with the possibility of opening a deposit also at 2.85% make the Welcome Evo Smart Account an attractive alternative. In addition, it has no commissions and does not require requirements.
