Deposits continue to be, at the start of 2024, the best products for those who want to obtain profitability for their money without taking any type of risk.
“Fixed terms still offer very attractive interests, between 3% and 4% with the money fully protected, thanks to the fact that these deposits are under the protection of the Deposit Guarantee Fund of each country,” explain the experts from the comparator HelpMyCash. .
However, given the possibility that the European Central Bank (ECB) will lower interest rates at the end of the first half of the year, which currently stand at 4.5% in the eurozone, it may trigger banks to reduce the profitability of their deposits.
“There are already some downward movements, although slight, by the banks and it could go further if this rate cut is confirmed, so our recommendation is not to wait any longer and take out a deposit now that still offer very attractive remunerations”, they point out from HelpMyCash.
Currently, there are a wide variety of deposits. For those conservative savers who want to have money tied up for a short time, the best option is the MyInvestor fixed term, which offers a return of 4% for balances from 10,000 euros and without having to meet any type of requirement.
Savers looking to obtain higher returns for longer can opt for twelve-month deposits. In this case, one of the best is sold by Novum Bank. The Maltese bank has a deposit with an interest of 3.90% for balances between 10,000 and 100,000 euros with the money fully insured.
Another option is the one-year deposit from Fjord Bank, with a profitability of 3.60%. The fixed term is under the protection of the Lithuanian Deposit Guarantee Fund, which insures up to 100,000 euros per holder and account. In both cases, banks do not require payroll direct debit or any other type of requirement.
If what you are looking for are deposits from Spanish banks, the remunerations are around 3%. This is the case of Wizink’s one-year deposit, available from 5,000 euros. The account where interest is collected also has a remuneration of 1%.
MyInvestor’s one-year deposit is also marketed with a yield of 3% and is available from 10,000 euros. In both cases, the entities allow early cancellation.
If you need the money at some point, paid accounts are a good alternative, explains HelpMyCash. The best is the Trade Republic Savings Account, with an interest of 4% and for balances of up to 50,000 euros, which allows the conservative investor to ensure gross profits of 2,000 euros.
It is followed by the Evo Welcome Smart Account, with a profitability of 2.85% for amounts up to 30,000 euros. This account has no requirements and does not charge commissions. Furthermore, if you have more money you can contract the deposit for six months with the same remuneration.
Another interesting account is the N26 Savings Account. The fintech applies a return of 2.26% APR for one year without limiting the amount. In addition to being a commission-free account, it gives access to a completely free debit card with numerous travel benefits.
Finally, the Sabadell Online Account stands out, with a profitability of 2% without expenses and with the money completely available. Amounts of up to 20,000 euros are paid indefinitely.
