The lowering of interest rates by the main central banks leads to a decrease in the returns offered on deposits, even if these arrive gently, with a slower rate of decline than expected a priori. In fact, even There are five entities that maintain the twelve-month performance of their vehicles at 3% or more, among the most profitable products in this term.
Cetelem, Banco Finantia, Banca March, Pibank and EBN Banco are the entities that are resisting with the highest yields (some even after having reduced them in recent days), with yields of 3% or more (see graph). The financial company of the French bank BNP Paribas is the leader in this sense, with a profitability of 3.20% without there being a minimum subscription amount. Cetelem in fact offers one of the highest yields, among the twelve most profitable at one year, in its various products, and in all cases exceeds the yield of the one-year debt.
The latest to join the list of The entities that are reducing the performance of their financial products are Banco Finantia and BFF. The Portuguese company goes from 3.25% to 3.15%, which is why it continues to be on the podium of profitability in this period despite the drop last week. This deposit is available for amounts starting from 50,000 euros and is linked to the Portuguese Deposit Guarantee Fund (FGD), which guarantees the first 100,000 euros per depositor in the event of bankruptcy of the entity.
The fall of the Italian BFF was a little more brutal, since the profitability offered by the 12-month deposit goes from 3.03% to 2.78%. In this case, the minimum amount to have this product is 5,000 euros, up to a maximum of 3,000,000 euros.
These two reductions come in the week in which the US Federal Reserve (Fed) executes a “giant” 50 basis point reduction in the reference interest rate and add to the downward trajectory of profitability that began a few weeks ago. Deutsche Bank, Selfbank and My Investor.
Deutsche Bank has taken the lead in this regard and lowered the yield offered by the 12-month deposit from 2.90% before 2.55% current. Now, Selfbank also lowers the yield delivered over the same period to 2.90%, of the 3% it offered until then. The first entity requires a minimum amount of 3,000 euros and the second goes up to 50,000 euros. Both products are members of the Spanish Deposit Guarantee Fund (FGD), which guarantees the first 100,000 euros per depositor in the event of the entity’s bankruptcy. MyInvestor is the other entity that reduces the return offered on its 12-year deposit to 2.75%, compared to 3% previously. The minimum amount required is 10,000 euros, up to a maximum of 100,000 euros.
