The turbulent international panorama and the rise in prices of certain products have caused a situation of inflation widespread. Given this, and for the lack of liquiditysome banks have entered into a competition for citizens’ savings, offering up to a 3% APR for fixed-term deposits. An opportunity for those savers who have their money tied up in accounts with low rate of return.
This decision has been made by four banking entitieswhich offer a return rate higher than 3% APR in some cases. An attractive incentive that the large Spanish banks do not offer such as BBVA, Santander or CaixaBank, with a average profitability of 1.86% in fixed-term deposits. This difference is due to the fact that the large Spanish banking entities already They have the necessary liquidity for your transactions.
Likewise, the European Central Bank (ECB) froze a few months ago interest rates at 2%so these four entities offer 1% more than the price of money stipulated by the European institution. Although this difference may seem negligible, the truth is that it is quite notable if you take into account that the majority of banking entities They do not usually reach a higher rate of return to that established by the ECB. The reason behind this risky move is that they expect the Governing Council of the ECB to increase the interest rates in your next call.
Trade Republic, Bankinter, Deutsche Bank and Ibercaja offer more than 3% APR to new clients
The first entity to offer more than 3% APR for fixed-term deposits was the German neobank Trade Republic, with 3.04% APR in your savings account and without any type of limit, exclusively for new clients. However, to be able to access this type of interest, it will be necessary recommend its usebeing able to extend profitability up to a maximum of one year. According to Pablo López, country manager in Spain and Portugal of Trade Republic for “Europa Press”, in our country “millions of people continue to receive very little from their bank”, so these types of alternatives would allow small savers to increase their capital.
Besides, Bankinter offers a 5% APR during the first year to new clients who decide to create a payroll account and direct debit a payroll of at least 800 euros per month. New customers must also pay three bills each quarter and use the card linked to the account at least three times. After the first year, the profitability will drop to 2%. While your account is remunerated with a bounce rate of 2.5% APR with a limit of up to 100,000 euros.
Another option is Deutsche Bankwhich ensures a return of 2.25% APR on fixed deposits for 12 months. This profitability can increase up to 3.25% APR if the payroll is debited or the linked card is used, Likewise, Ibercaja offers 5.09% APR during the first year for clients who direct debit their payroll, use the card and have direct debit charges for at least six months. After the first year, the interest rate is reduced to 2.01%. For this reason, as Andrea Morales explained to “Infobae”, these alternatives allow users “get closer to inflation and reduce the loss of purchasing power” without taking very high risks.
Furthermore, since European Central Bank warn of the possible consequences that these low-profit savings accounts may have on the future of economies and, above all, of the future retirees. Since, by not moving the money, Its value is diluted during times of inflation. For this reason, they believe that European families should learn to manage their savings so that they can generate long-term benefits. These benefits, resulting in some cases from bounce rates, will create a ‘financial cushion’ both for unforeseen events and to face the cessation of work activity.