Up to 3.20% APR: Which banks offer the most profitable deposits and how to access them?

In the final stretch of the year, banks compete to capture the savings of Spaniards with offers on short-term deposits. In this sense, an entity stands out for offering returns of up to 4% APR a figure that attracts the attention of savers in search of profitability.

4% APR in the very short term

Los deposits at 4% APR They return to the commercial window. Among the most notable offers is the Large New Year’s Eve Special Deposit from Global Investment Bank (BiG), a Portuguese entity that seeks to attract new clients. “This promotion offers 4% APR which seems spectacular, the problem is that it is for so only two months. This is a very short period, It’s more of a hook offer“explain the experts of the financial comparator HelpMyCash.com

This short-term offer aims to attract new customers, “but it is more marketing than anything else. At HelpMyCash, we believe that under this scenario, in which more rate cuts are coming from the European Central Bank, the best thing is Look for longer-term deposits that offer attractive returns. In this way profitability is guaranteed,” the experts clarify.

The ‘top 4’ in one year

For HelpMyCash analysts, the best thing, if you can block the money for a while, is to choose longer terms, like one year.. Project Bank, an Italian entity, leads this segment at 12 months with a profitability of 3,20% TAE. This deposit requires a minimum investment of 10.000 euros.

In second place,Novum Bank offers 3.20% APR for your deposits for one year and six months, consolidating itself as an attractive option both in the short and medium term. Third place goes to, MyInvestor, completes the podium with 2.50% APR, also with a minimum investment of 10,000 euros. “Of course, you must hire an automated portfolio for 150 euros, otherwise remuneration decreases to 2.25%“, they point out from the comparator.

Finally, the Deposit 3.0 to 12 months from Banco Mediolanumgives a return of 3% APR (2.96% TIN).

It is fixed term It can be contracted until December 31, 2024 and for amounts between 10,000 and 100,000 euros. To achieve this profitability it is necessary to domiciliate a payroll or pension of at least 700 euros or maintain assets of 3,000 euros or more in managed products. For its part, This deposit has no commissions and supports total or partial redemption without penalty under certain assumptions.

Remunerated accounts, the option to have an account

For those who do not want to block the money, the best option is to place the money in a paid account. “Fewer and fewer banks offer 3% APR. However, there are still banks that resist with this remuneration,” say the HelpMyCash experts.

Revolut offers one of the paid accounts that has caused the most sensation in 2024. Neobanco offers different remunerations depending on the plan that has been contracted. “It goes from the 2,00%TAE provided by the standard plan, up to 3,56%TAE of the Ultra account”, the analysts indicate. The maximum remuneration is 100,000 euros and has no commissions. It is protected by the FGD of Lithuania and the IBAN is Spanish.

The other bank that came to break the market was Trade Republic which offers remuneration to 3,00%TAE.

Banco Cetel for its part, pays a 3,10% TAE. This bank, protected by the Spanish guarantee fund, allows investments from 1,000 euros and up to 100,000 euros.