There is no longer a way to get 3% with 12-month deposits (for that you have to go to shorter terms, such as quarterly). The remuneration offered by entities in all terms has been falling in recent months, in line with the rate cuts that the European Central Bank has been carrying out. If we stick to 1-year deposits, the most profitable are around 2.80% or 2.90%.
The most attractive 12-month vehicle, but not available to everyone, is that of Banco Finantia. Pay 2.90%, yes, for amounts of at least 50,000 euros. Secondly, and accessible to any investor, is Pibank’s one-year deposit, which offers 2.83% from 1 euro.
With a minimum contribution of 5,000 euros we find the 12-month product from EBN Banco, which gives 2.65%. It is followed by Banco Pichincha, with 2.52% and without a minimum amount requirement. Below we find Banca March and Banco Big tied at 2.50%. The difference is the entry barrier: Banca March requires at least 10,000 euros, compared to 1,000 for Banco Big. In this same group we could include the MyInvestor deposit, which offers 2.50% as long as the client also contracts an automated portfolio for at least 150 euros (which would no longer be a mere savings vehicle with a guaranteed profitability, but the client would also make an investment that could go up or down). Without contracting this automated portfolio, the APR remains at 2.25%. For its part, the 12-month deposit of Cetelem, the consumer credit division of BNP Paribas, remains at 2.30%.
The lowest part of this profitability table is where we have seen the most changes in recent days, since several entities have cut salaries. Triodos Bank has lowered its 12-month deposit rate from 2.20% to 2.10%; Deutsche Bank remains at 2.10% (from 3,000 euros, like Triodos), but BFF now pays an APR of 2.02% (previously 2.52%). SelfBank has cut interest from 2.30% to 2%, and ING has taken it to 1.75% from 1.90% previously.
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