Editor’s note: This article was first published in November 2012, and its interest rates are a snapshot from that month and entirely obsolete. Several banks listed, such as Banesto, Banco Popular and Oficina Directa, have since been absorbed or rebranded.
As we have advised on several occasions, a big step for any saver is not paying to keep our money in the bank, but being paid to keep it there. Interest-bearing accounts are not fixed-term deposits, so we can access our money whenever we want.
Here are the best-paying interest-bearing accounts right now (the ones that pay the most for our money). Remember always to read the small print: some only pay these rates above a certain balance, and to open others we have to set up direct debits for some bills, pay in our salary, and so on.
| Bank | AER (TAE) | Period |
|---|---|---|
| Bankinter | 5% | 1 year |
| Mediolanum | 4% | 3 months |
| Oficina Directa | 3.51% | 4 months |
| iBanesto | 3.4% | 5 months |
| Openbank | 3.3% | 4 months |
| ING | 3.3% | 4 months |
| Ibercaja | 2.2% | 3 months |
| EVO | 2% | No set period |
| Popular-e | 1.6% | No set period |
| Bankia | 1.5% | No set period |
The period shown is the length of the promotional offer, so we need to check how much they will keep paying us once the promotion is over. In the case of EVO, Popular-e and Bankia there is no promotional period.
Featured image: Luis García, CC BY-SA 3.0, via Wikimedia Commons.
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