Inflation in Spain has been below 2% for the first time since March 2021. Specifically, the year-on-year CPI fell to 1.9% in June, according to the National Institute of Statistics, compared to 3.2% in May.
For the first time in a long time it is easy to beat inflation without having to resort to an investment product. With the recent rate hikes by the European Central Bank, which have catapulted the main rate to 4%, Spanish banks have given a good boost to the profitability of deposits and savings accounts.
The average interest on Spanish fixed-term deposits has gone from 0.06% in May of last year to 1.65% a year later, according to the Bank of Spain.
On the other hand, the offer of remunerated accounts above 2% APR it has multiplied. The most profitable offers have been brought by online banks and medium-sized entities, explain sources from the HelpMyCash.com financial product comparator.
And what can we find above the inflation value? The EVO Smart Account Bank has a return of 2.5% APR the first year with a maximum remunerated balance of 30,000 euros. Without commissions, without conditions and without permanence. In one year you can get 750 euros gross in interest.