The large listed banks have begun the path of liability remuneration with some timidity. Almost seventeen months after the European Central Bank (ECB) pivoted its monetary policy, adopting a more restrictive approach to control runaway inflation, virtually all major banks have a supply of deposits (or accounts) in order to . to attract new customers or retain existing ones. Of course, these are products aimed at a type of customer so they do not carry out mass marketing.
We must not forget that, although it is possible that the price of money has reached its ceiling (interest rates are already at 4.50%, unless there is some surprise at the December meeting), the transfer of this rise to the Fixed-term deposits are occurring more slowly.
One of the pioneers was Banco Santander, through its subsidiary Openbank. The digital bank launched a deposit with a profitability of 0.20% in September 2022, a product that has been renewed until it offers a remuneration of 3.07% over six months and as long as the home customer receives periodic income of at least 600 euros. If you do not do so, the interest rate falls to 2.01%.
However, when linking it to a six-month term, the equivalent annual rate (APR) is less than 3.07%, that is, the bank really offers a profitability of 1.535% for those who have direct deposit income and 1% for those who do not. do. . Furthermore, the way to achieve greater remuneration is to maintain a relationship with the entity for a certain period, of at least six months.
Bankinter is another of the entities that organized an offer on deposits for certain clients at the beginning of this year and that is not mass marketed. In this sense, the campaign carried out by the bank chaired by María Dolores Dancausa has been offering its clients two fixed-term deposits with returns that are 2.80% APR up to 50,000 euros and 2.90% if that figure is exceeded. . In that sense, it is essential to have high savings.
In addition, it has two deposits in dollars aimed at clients with a more comfortable financial profile. It would be a one-year deposit with a remuneration of 4%, an APR that would fall to 3.84% for six-month terms. The minimum import is 15,000 euros, but the client must bear in mind that they bear the currency risk.
BBVA, The Last
Among the large listed banks, BBVA has been the last to join. The bank based in ‘La Vela’ has just launched an offer in that regard. This is a deposit aimed at certain clients. The key will be the level of connection that the client has with the bank. The remuneration is 2.75% and the minimum investment amount varies between 50 euros and 500,000 euros. with a period of two years.
Likewise, the bank offers a combined deposit, with a profitability of 0.65%. This is a product for a term of 13 months, which combines a fixed-term taxation with an investment fund. The minimum investment is 600 euros. The client can choose several options, ranging from 30% of the investment in a fixed-term deposit and 70% in a fund, to 70% in a deposit and 30% in investment funds.
Caixabank would also have relaunched its offer in deposits. Specifically, the bank run by Gonzalo Gortázar launched a bonus deposit that offers a remuneration of 1% for one year, but additional interest can be achieved if you contract or maintain certain products and services marketed by Caixabank, such as life insurance. home or health, among others. To access this it is necessary to domiciliate regular income for a period of 6 months of at least 600 euros.
Finally, and although it is not a deposit as such, Banco Sabadell stands out. The bank has just launched a campaign to attract customers and income and has redesigned its offer through the Sabadell Digital Account. Now it offers a return of 2% per year, but, and hence the difference, indefinitely. The maximum amount of remuneration is 20,000 euros.
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