Fixed-term deposits continue to be the best option for savers to grow their savings. And even more so in this upcoming scenario, in which the European Central Bank (ECB) is expected to begin lowering interest rates.
The reason is that the saver still has access to fixed terms with very attractive returns, which in some cases reach close to 4%.
Furthermore, these deposits are characterized by offering high security to the saver, since they are under different deposit guarantee funds, which protect savings up to 100,000 euros per holder and account. But, in addition, they do not require linkage, such as direct debit of payroll or receipts. HelpMyCash advises placing the money that is not needed during the next year in these deposits.
One of the most interesting fixed terms is sold by Novum Bank. The entity with origins in Malta offers the highest profitability at the moment: 3.90%. The product is available for purchase starting at 10,000 euros, which would allow gross profits of 390 euros. It is also protected by the Maltese Deposit Guarantee Fund.
This deposit can be contracted through Raisin, a platform that allows savers to access fixed terms from European banks that offer higher profitability.
Another deposit that can also be contracted through Raisin is the one-year fixed term of Banca Sistema. This product offers a return of 3.70% over one year and is covered by the Italian Deposit Guarantee Fund. In addition, it is available from 20,000 euros, which ensures profits of 740 euros after twelve months.
Within Spanish banking, Banca March’s one-year Avantio Flexible Deposit stands out. The profitability of this fixed term is 3% and can be contracted from 10,000 euros. This product allows early cancellation and is designed for new customers. In order to access it, it is necessary to open the Avantio Online Account.
However, HelpMyCash experts point out that if you cannot do without savings for a long time or you are looking to obtain profitability from the money in your emergency fund, it is best to opt for a remunerated account. These accounts have no commissions and do not require payroll direct debit or compliance with other requirements.
Among the most profitable paid accounts, the Trade Republic Savings Account stands out, with a profitability of 4% APR and for amounts between 1 and 50,000 euros, which ensures a return of up to 2,000 euros gross. Additionally, through the Trade Republic app you can open a securities account that allows you to trade stocks, bonds, ETFs or cryptocurrencies.
Within national banking, the Sabadell Online Account stands out. It is a remunerated account with an interest of 6% TIN for the first three months and 2% for the following months, which means that the total profitability is 3% APR and for a maximum balance of 20,000 euros, which means The new client will be able to obtain up to 596 euros gross.
Likewise, it also returns 3% of electricity and gas bills and you can sign up for a debit card and a credit card completely free of charge.
The Evo Welcome Smart Account closes the classification, with a profitability of 2.85% APR for amounts up to 30,000 euros. Additionally, if you have more savings, you can take out a six-month deposit with an interest rate of 2.85% APR.
