The best deposits that can be contracted in Spain exceed 3% APR

The profitability of deposits of the main Spanish banks it does not pick up despite the rise in interest rates by the European Central Bank (ECB). Despite this bleak outlook, there are different options for investing in deposits with a certain return through neobanks, small entities and digital banking with a Spanish or foreign guarantee fund and with terms ranging from 12 to 24 months.

The Pibank bank, which belongs to the Pichincha group of Ecuadorian origin, but under the national guarantee fund, with its deposit pibank takes the prize in the list, with an attractive interest rate of 3.30% APR. This deposit offers an interesting option for savers. Although it allows early cancellation, it is important to bear in mind that, in the event of a withdrawal of money, interest will not be charged.

MyInvestor, for its part, markets a one-year deposit with a remuneration of 3%. In addition, it has the attraction of being under the Spanish Deposit Guarantee Fund, which protects up to 100,000 euros per owner and account. The product allows early cancellation at any time, returning 100% of the capital. In addition, it does not have formalization expenses or associated commissions.

Interesting are also the offers of EBN Bank and Banca March. TOAlthough the latter this week Banca March launched a fixed-income fund with a net APR return that equals the return of the best deposits marketed in Spain, it has a fixed-term tax at 2.85% APR very similar to the one offered EBN with its 12-month Sinycon Plus deposit, with an interest rate of 2.87% APR. In addition, it does not require a minimum deposit of 10,000 euros, unlike Banca March. Both can be settled at maturity but EBN gives you the possibility to also choose quarterly settlement.

Up to 3% profitability over 2 years with EBN Banco

The 24-month deposits from banks protected by the Spanish FGD also offer interesting options for savers long-term. But you have to “carefully analyze interest rates, settlement conditions and early cancellation options before making an investment decision,” the experts at HelpMyCash recommend.

The deposit that best conditions offered within of Spanish banks is EBN with its Sinycon Plus deposit at 24 months, in this case it does exceed 3% APR until reaching a return of 3.10% APR. This deposit offers quarterly or expiration settlement options. It requires a minimum investment of 10,000 euros and a maximum of 400,000 euros.

targobank however does not reach 3% but it does offer an interesting return for Kelisto, as it remunerates with 2.960% APR and provides flexibility in terms of settlement options (monthly, quarterly, semi-annual or annual). The deposit requires a minimum of 10,000 euros.

Selfbank, on the other hand, offers a 2-year fixed-term deposit with an interest rate of 2.75% APR. This fixed-term tax is settled at maturity and requires a minimum investment of 25,000 euros and is available for a maximum of 500,000 euros. In case of early cancellation, 100% of the capital will be recovered, but no interest will be paid. And below this, it is positioned Box of Engineers with its 24-month payroll deposit that offers an interest rate of 2.35% APR and is settled at maturity. In case of early cancellation, the remuneration will be 0.01% TIN and a penalty of 0.20% will be applied.

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