On the occasion of the popular Christmas Lottery, many of the participants ask themselves: What would I do if I won the jackpot? Investing the prize in deposits, with a fixed and assured return, does not seem like a bad option. However, if the winner wants to ‘place’ the prize by taking advantage of the returns offered by fixed-term deposits, he would have to take into account the maximum amount that he can invest in these products.
And it is important to keep in mind that the Christmas Lottery Jackpot awards 4 million euros to the winning series, that is, 400,000 euros per tenth (20,000 euros per euro played). The first 40,000 euros of the prize are exempt from taxes; but the Treasury intervenes with a 20% tax from then on. In total, the prize would be 328,000 euros per tenth played.
The same thing happens with the rest of the grand prizes. In the case of the second winning number, the winnings would amount to 108,000 euros. The third prize is 48,000 euros. The fourth and fifth prizes, being below 40,000 euros exempt from taxation, would mean net earnings of 20,000 euros and 6,000 euros per tenth respectively.
Gordo Reversal
When investing this amount in a bank deposit, it is important to take several factors into account. To begin with, if the product allows you to deposit the entire amount of the prize, the Deposit Guarantee Fund under which it operates and how much time you have to invest the money without moving it from the deposit.
The 12-month Pibank deposit has a 3.30% APR. It does not present any type of minimum import, so the 328,000 euros of the prize could be allocated, obtaining gross interest of 10,824 euros the following year. Early return is subject to commissions and penalties, and to contract this deposit it is necessary to open a paid account without Pibank commissions.
Selfbank, for its part, markets a one-year deposit with a 3.30% APR as well. It has partial or complete cancellation, and is guaranteed by the Spanish Guarantee Fund. The annual interest will also be 10,824 euros, since it allows you to deposit the entire Christmas Gordo import (and up to 1,000,000 euros).
Another deposit where the total amount of the first prize could be invested is in Renault Bank’s Tú+ deposit. It is a somewhat riskier offer, having a duration of two years instead of one, but it has a profitability of 3.85% APR. This profitability would translate into total interest of 25,256 euros. Interest is paid quarterly, and it is also necessary to open a Renault Bank Contigo Account.
Partial investment or other winning numbers
Many deposits have a maximum import that would prevent the full payment of the Gordo, but a partial investment of the prize would be a good option. They are also useful in case you perceive the previous second, third, fourth or fifth.
The deposit from the Portuguese bank BIG stands out, whose maximum import is 250,000 euros with a 3.25% APR. If you invest the maximum, you would receive total interest of 8,125 euros. If you invest the second prize on December 22, you would earn interest of 3,510 euros per year, and in the case of the third, 1,560 euros. This deposit is guaranteed by the Portuguese Bank Guarantee Fund.
Orange Bank account with a deposit of 2% APR with a maximum import of 200,000 euros. It is an interesting option, although its returns are not as high as those of other options.
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