SelfBank y WiZink calientan el mercado de depósitos

The Spanish retail deposit market is thriving, and two newcomers, WiZink and Self Bank, have joined the ranks of institutions enhancing their offers amidst expectations of further interest rate increases in the eurozone. WiZink, once lagging behind competitors, has increased deposit returns for one-year deposits to 3% AER (annual equivalent rate). This offer applies to new deposits between 5,000 and 100,000 euros from other entities. The bank also offers 2.85% for 18 months, 2.10% for 25 months, and 2.60% for 36 months.

Self Bank has improved the profitability of its shorter-term deposits, raising them to 2.55% AER for 3 and 6 months, both for new and existing customers. These deposits coexist with a welcome deposit for new customers or existing clients, which pays 2.75% AER for 12 months without any tie-up. Recently, Self Bank launched a 24-month deposit at 2.75%.

The firm completes its offer with 3 and 12-month linked deposits, paying 3% AER if the client invests at least 30% of the deposit amount in the funds managed by Singular AM within five days of signing up. This move adds to a growing and attractive commercial showcase of deposits.

Among the Spanish banks admitted to the deposit guarantee fund, WiZink's 3% is only surpassed by EBN Banco's 3.10%. The Ecuadorian online bank Pichincha, which is attached to the Spanish guarantee fund, has raised its profitability from 2.52% to 3% for both new and existing customers, with no maximum or minimum investment limits.

The Spanish neobank MyInvestor has also reached this 3% mark for its 12-month deposit. Premium mode, requiring a monthly contribution of 7.99 euros, offers a rate of 3.5% for a 12-month deposit. Banca March has also increased the profitability of its 12-month Avantio deposit from 2.50% to 2.80%, with a minimum and maximum contribution of 30,000 and 300,000 euros, respectively.

Another top payer with Spanish guarantee is Cetelem, belonging to the French giant BNP Paribas, which offers the best products for 3 and 6 months and 3% for 24 months. Miraltabank stands out among the longest-term offers, paying 2.81% for two years and 2.91% for three years. Among European banks offering in Spain, the highest returns in the one-year term are close to 3.5%.