The profitability of deposits has experienced a slow trickle downwards after the European Central Bank (ECB) stopped interest rate increases in October last year.
At first, it was the banks that sold deposits above 4% that were the first to apply cuts to the interest they offered. “However, this trend has been consolidating and practically all banks have applied slight reductions to the returns on their deposits until they are within a range between 3.50% and 3.90%,” explain the experts from the comparator HelpMyCash. .
Also influencing these cuts is the fact that the ECB is expected to cut rates at the end of the first half of this year. “This has caused many entities to seek to anticipate these movements,” add the comparator’s experts.
Despite this, from HelpMyCash, they remember that there are still deposits from both foreign and national banks that offer very interesting returns at the current time. “Although the best strategy if you want to make the money profitable is to take out a deposit before they fall again.”
MyInvestor sells the best deposit of the moment. The 3-month Deposit has a profitability of 4% and can be contracted from 10,000 euros. Although to access it you have to invest 150 euros in its robo-advisor.
Next is the one-year deposit from the Novum entity, with 3.90%. This fixed term is also available for balances of 10,000 euros or more.
In addition, the money is fully insured by the Deposit Guarantee Fund, up to 100,000 euros per owner and account. The Fjord Bank deposit stands at 3.50%. In both cases these fixed terms can be contracted through Raisin.
Other interesting deposits are marketed by the Italian entity Facto. Its fixed terms range from 3 months to 12 months, with interests between 3.80% in the very short term and 3.03% in one year. All these deposits are protected by the Italian Deposit Guarantee Fund.
If national fixed terms are preferred, the offer moves around 3%. This is the case of Wizink’s 12-month Deposit, with a profitability of 3%. In addition, it can be hired for as little as 5,000 euros. Another option is the one-year MyInvestor deposit, also with an interest of 3% and from 10,000 euros.
An alternative to deposits are paid accounts, explained from HelpMyCash. This option is interesting for those conservative savers who want to have money always available. The comparator’s experts review the best ones.
This is the case of the Trade Republic Savings Account, with an interest of 4% and for a maximum balance of up to 50,000 euros, which guarantees a gross profit of 2,000 euros.
The EVO Welcome Smart Account is marketed with an interest rate of 2.85% for a maximum amount of 30,000 euros. Furthermore, if you have more money, you can take out a six-month deposit with the same profitability of 2.85%.
The Sabadell Online Account also stands out, with an interest of 2% for a maximum balance of 20,000 euros and indefinitely. Although this profitability applies indefinitely. In addition, the account returns 3% of electricity and gas bills.
Finally, the N26 Savings Account closes the classification, with an interest of 2.26% APR.
