Entities continue to adjust downwards the remuneration they offer for term deposits, in accordance with the rate cuts implemented by the European Central Bank. On October 17, the institution which governs monetary policy announced for the third of the year an additional increase of 25 basis points, to 3.25%. Several banks have in recent weeks reduced the amount they pay savers to deposit their money. 12-month vehicles available in Spain currently offer an average of 2.60%, a percentage similar to that paid by Spanish Treasury bonds at this same maturity on the secondary market.
If we focus on 12-month deposits, Cetelem remains the most profitable. The division of personal credit products of BNP Paribas even recently increased the profitability of this product from 3.18% to 3.24%, going against what the majority of entities do which, as they say, is to reduce this remuneration. This is a product with no minimum amount required, which is attached to the Spanish Deposit Guarantee Fund (FGD), which guarantees the first 100,000 euros per depositor in the event of the entity going bankrupt.
Just behind Cetelem, Pibank remains firm by offering 3.03% on your one-year deposit, also with no minimum amount. This product allows for total and partial cancellations. Like most of these deposits, it is also attached to the Spanish FGD, with this guarantee of 100,000 euros.
3% pay Banco FinantiaYes, only to depositors who have at least 50,000 euros recorded. The remuneration of this vehicle has decreased from the previous 3.10%. In your case, the FGD to which you are attached is that of Portugal.
With no minimum amount required, the Ecuadorian’s 12-month deposit Banco Pichincha is also among the most attractive, by offering 2.83%. And for amounts from 5,000 euros, EBN Bank offers 2.80% (previously paid 2.90%).
Banca March allows you to catch 2.75% for amounts between 10,000 and 2 million euros. And, for his part, ING offers 2.65% for deposits of 100,000 euros or more. The remuneration of this 12-month vehicle from the Orange Bank falls to 1.90% for lower amounts than this one.
BFF pays 2.52% for contributions from 5,000 euros, and Triodos 2.50% from 3,000 euros. Selfbank has the lowest threshold, at 1,000 euros, which rewards 2.30% (previously 2.55%) and MyInvestor offers 2.25%. from 10,000. Deutsche Bank, for its part, pays 1.90% for 12-month deposits of at least 3,000 euros.
