The European Central Bank’s battle for fight inflation in the euro zone is in full swing. Since a year ago began to raise interest rates and everything indicates that it has not yet peaked. Although this has led to a notable increase in mortgage costs, especially those mortgaged at a variable rate, has also generated opportunities for those who seek get returns for your savings without taking big risks.
“Although the main Spanish banking entities have been reluctant to improve the remuneration of savings, other smaller entities have taken advantage of the situation to attract clients with more attractive returns, with time deposits“recognize the experts of the financial comparator HelpMyCash.com
“Only a year ago, the average return on deposits was 0.04%, according to data from the Bank of Spain, but last May it reached an average of 1.64%, the highest level since January 2014,” he said in a press release. Olivia Feldman, co-founder of HelpMyCash.
Although the most interesting options in one-year deposits exceed 3%, there is still a long way to go to reach the remuneration rates offered in other European countries. However, small online entities are leading the charge, competing head-to-head with the profitability of Treasury bills. “Besides, platforms such as Raisin, which allow you to purchase financial products from other European countries, offer tie-free deposits that exceed 4%“, they detail from the comparator.
Deposits seemed to hibernate, but in recent months the climate has changed rapidly, and returns are becoming increasingly attractive. According to the HelpMyCash comparator, currently, none of the five main Spanish banks offer deposits in their catalog of products for customers.