The end of the year brought the milestone that many had been waiting for for months, especially those with mortgages: a halt to the rise in interest rates that had been taking place during 2023. The European Central Bank has stopped this rise in the price of money, but The consequences of this stoppage are not positive for everyone, “especially for savers, who have already begun to see how many savings products have begun to lower their returns,” they add from the financial comparator HelpMyCash.
And the fact is that, for example, the deposits that were being marketed just two months ago with returns even higher than 4% have disappeared. However, despite the foreseeable drop in rates, there are still very interesting investment and savings alternatives. Specifically, two products with which to obtain more than 800 euros of profit: remunerated accounts and the deposits themselves.
At the time, interest-bearing accounts emerged as an alternative to deposits and as an attractive and safe option for the most conservative with their savings. Likewise, they have carved out an important niche in the market, not only because of the profitability they offer, but because they also allow them to operate daily with that savings and because of their flexibility.
A good example is the Sabadell Online Account, with an interest of 6% TIN for the first three months and then a solid 2% TIN (3% APR). Thus, for an investment of 20,000 euros, the interest could amount to 596.73 euros the first year. In addition to its attractive profitability, it has no commissions or requires a payroll, it offers free cards and returns 3% on electricity and gas bills.
A second account with which to get extra money is the Santander Online Account. By opening it and direct debiting the payroll or pension, you obtain a bonus of 400 gross euros. But, in addition to this generous offer, this product, like Sabadell’s, does not impose commissions or conditions. What’s more, it includes a free debit card and gives access to more than 30,000 free ATMs around the world.
The third option that stands out in the current market is the EVO Smart Welcome Account. With a profitability of 2.85% APR, investing 30,000 euros, the annual return would be 843 euros. In addition, it has no commissions and allows you to take out a deposit with the same APR, as well as a free debit and credit card and the option to withdraw money abroad at no cost.
On the other hand, those who prefer deposits over accounts because they have a higher profitability are the biggest victims of the brake on interest rates. At this time, it is very difficult to find any with an APR of 4%, as happened at the end of 2023. However, if only profitability is taken into account, the best deposits on the market still offer more than interesting percentages and higher than those of the accounts.
One of those deposits that does not reach 4%, but is close to it, is the one-year Haitong Deposit. Specifically, this product offers a 3.95% APR, requiring a minimum investment of 10,000 euros and with the total security provided by having the support of the FGD of Portugal.
Very similar is the BAI Deposit that can be contracted through the Raisin platform. This product, which also has a one-year term, offers a remuneration of 3.80% APR and, like Haitong’s, requires a minimum investment of 10,000 euros and is protected by the Portuguese FGD.
And a third alternative that exceeds 3% profitability is the MiraltaBank one-year deposit. This product, also contractable through Raisin, offers a 3.35% APR, but with two main differences compared to the other two deposits. First, the minimum capital to invest is 15,000 euros, which is slightly higher. And second, instead of being protected by the Portuguese FDG, it is protected by that of Spain.
