Banks are committed to capturing savings for the new quarter of the year by improving their offers in remunerated accounts and after the period of turbulence experienced on the stock market due to the bankruptcy of the Silicon Valley Bank and other entities in the United States and the rescue of Credit Suisse. Specifically, some entities have chosen to increase profitability with those seeking to capture new liabilities and ensure the possibility of selling more products in the future. For customers it is a way to make money their money without linking it to a permanence and being able to access it when they need it.
Specifically, the latest financial entities that have increased their offer have been: Pibank, EVO Banco and Openbank. However, the commitment to these products does not come only from them. The big banks are also beginning to make way in this field, encouraging a war that they have been resisting for months, but which is already causing them to lose deposits. In fact, Bankinter is one of the entities that recently launched one of these open accounts with a remuneration of 1.00% APR that is applied from the first euro.
As for the banks that were already participating in this battle for liabilities, Pibank offered its remunerated account at the beginning of last month with a return of 1.00%, however, now it has raised the stake, reaching a return of up to 1.51 % APR. The most interesting thing for the user is that the entity does not require any minimum or maximum, so the percentage will be applied to all the money you have in the account. This product does not have commissions or permanence, in addition, the liquidation of the interest generated will be monthly.
On the other hand, EVO is on its heels with its new ‘Smart Account’ at 1.50% APR, however, despite not having any commissions and having a monthly settlement, the minimum balance to be able to apply the percentage is 4,000 euros, while the maximum is 30,000. In addition, this offer is only available to new clients who deposit their salary of at least 600 euros -or pension or unemployment without a minimum- or operate on the stock market with the ‘EVO Intelligent Broker‘. In the event that the user does not meet these conditions that ensure a link to the entity, the return will only be 1.00% APR. Finally, the digital subsidiary of Banco Santander, Openbank, has also raised the remuneration that it promotes in its ‘Welcome Savings Account’, from 1.00% APR to 1.25%. The entity also requires that the user is not a previous customer and, in addition, the rate will only apply during the first 12 months and up to 100,000 euros.
However, despite the fact that other banks have not improved their offers for the new quarter, their accounts are among the best in terms of profitability. Specifically, Banco Sabadell and MyInverstor promote a 2.00% APR – the same percentage that they offered at the beginning of February -. Banco Sabadell sells its ‘Cuenta Online Sabadell’ without commissions or permanence at a 2.00% APR for 12 months for a maximum balance amount of 30,000 eurosalthough, if the client also directs his salary, he will obtain a disbursement of 250 euros.
MyInvestor, for its part, offers the same interest with the same term, but increases the amount of money that allows the user to make a profit, up to 50,000 euros. In addition, it promises a 0.30% APR once the first year has passed, although allows you to keep the initial percentage by investing 300 euros per month in selected products.
On the other hand, the foreign brokers that broke into the war for liabilities through remunerated accounts also maintain very competitive percentages, in fact, some like InbestMe have increased their percentages. Specifically, the entity has reflected the rise in interest rates from the European Central Bank and has raised its offer -from the initial 1.05% APR and the subsequent 1.90% that it promoted last month- to 2.40%. In this way, InbestMe has surpassed the rest of the accounts in the ranking and has positioned itself in second place in terms of profitability. The offer is adapted both to small savers, since the minimum amount to access the offer is 1,000 euros, and to large salaries, since it does not have a maximum to which the 2.40% APR is applied.
The only remunerated account that maintains its offer above, with the same profitability as in March, is Freedom Finance, which offers its ‘D Account’ with 2.50% APR with no money limits to invest. This maintains it, to date, as the best paid offer. Lastly, within the broker market, Scalable Capital stands out by offering a 2.30% APR, although it stops the money from making a profit at 100,000 euros.
