Editor’s note: This article was first published in April 2011; it is a snapshot of deposit offers in Spain in April 2011, and none of the rates or products are current. Several banks named, including Bancaja and Banco Popular, were absorbed in the later restructuring of Spanish banking.
Good investment opportunities in fixed-term bank deposits are back. With Euribor on the rise, we may well see another deposit war. Here are the best-paying 12-month deposits, plus a few with attractive returns for terms shorter than 12 months.
All rates are TAE (tasa anual equivalente, the Spanish annual equivalent rate).
Best-paying deposits for terms under 12 months
- TuBancaja: 4.00% TAE, 1 month
- Caixa Penedès: 3.75% TAE, 3 months
- ING Direct: 3.50% TAE, 4 months
- Caja Canarias E-Depósito: 3.50% TAE, 6 months
Best-paying 12-month deposits
- Banco Finantia Sofinloc fixed-term deposit (IPF): 4.00% TAE
- Caja Canarias E-Depósito: 3.80% TAE
- Banco Popular Depósito Top: 3.60% TAE
These are the offers that stand out most, although we’ll have to wait and see what Banco Santander comes up with. Keep in mind that some of these deposits are only for new customers and can only be opened online. We always try to show deposits that don’t require you to take on other products or commitments with the bank.
Featured image: Kārlis Dambrāns, CC BY 2.0, via Flickr.
