4.12.2023

Spain's Deposit Market Overview: December 2023

4 min read

Unlock exclusive insights into the dynamic world of European deposit rates with PickTheBank's December review. Discover the most enticing offers surging interest rates in Spain.

Embrace the month of December with the latest financial insights from PickTheBank, where we continue to monitor interest rates and navigate the ever-evolving financial situation in Europe.

Our spotlight this month is on Spain.

A meticulous review led us to examine the websites of 35 Spanish banks, resulting in a comprehensive database of 145 unique deposit products available in Spain.

According to the most recent data from the European Central Bank (ECB), the average interest rate on annual deposits in Spain has experienced a significant uptick, reaching 2.35% in the past month. This represents a noteworthy increase from the previous month's rate of 2.22%.

Venturing into the realm of fixed-term deposit interest rates in Spain, our analysis unveils a maximum interest rate of 4.32% for 6-month term euro deposits and 4.06% for 1-year euro deposits. These figures suggest a modest yet discernible rise in interest rates on fixed-term deposits over the past month.

But there's more – PickTheBank transcends boundaries to bring you the cream of the crop in deals not only in Spain but across Europe. Our expansive database covers deposit rate information from over 1,000 banks across 25 European countries, showcasing a grand total of more than 20,000 financial products.

We present a curated selection of the most enticing offers:

🔥Top-4 12-month ordinary EUR deposit rates:

Interest rate	Bank	Currency	Term
4.06%	BFF Bank, S.P.A. Sucursal en España	EUR	12 mths	More ->
3.40%	BANCO FINANTIA, S.A., SUCURSAL EN ESPAÑA	EUR	12 mths	More ->
3.25%	Bancofar, S.A.	EUR	12 mths	More ->
3.35%	EBN Banco de Negocios, S.A.	EUR	12 mths	More ->

🔥Top-3 24-month ordinary EUR deposit rates:

Interest rate	Bank	Currency	Term
3.85%	RCI Banque, S.A., Sucursal en España (Renault Bank)	EUR	24 mths	More ->
3.40%	EBN Banco de Negocios, S.A.	EUR	24 mths	More ->
3.00%	Targobank, S.A.	EUR	24 mths	More ->

🔥Top-4 36-month ordinary EUR deposit rates:

Interest rate	Bank	Currency	Term
3.75%	BANCO FINANTIA, S.A., SUCURSAL EN ESPAÑA	EUR	36 mths	More ->
3.45%	BANCO FINANTIA, S.A., SUCURSAL EN ESPAÑA	EUR	36 mths	More ->
3.40%	EBN Banco de Negocios, S.A.	EUR	36 mths	More ->
2.50%	Wizink Bank, S.A.	EUR	36 mths	More ->

🔥Top EUR deposit rates - any term:

Interest rate	Bank	Currency	Term
4.32%	BFF Bank, S.P.A. Sucursal en España	EUR	6 mths	More ->
4.06%	BFF Bank, S.P.A. Sucursal en España	EUR	3 mths	More ->
4.06%	BFF Bank, S.P.A. Sucursal en España	EUR	12 mths	More ->
4.00%	Banco Mediolanum, S.A.	EUR	6 mths	More ->
3.85%	BANCO FINANTIA, S.A., SUCURSAL EN ESPAÑA	EUR	25 mths	More ->
3.85%	RCI Banque, S.A., Sucursal en España (Renault Bank)	EUR	24 mths	More ->

🔥Top USD deposit rates - any term:

Interest rate	Bank	Currency	Term
4.25%	BANCO FINANTIA, S.A., SUCURSAL EN ESPAÑA	USD	12 mths	More ->
4.00%	BANCO FINANTIA, S.A., SUCURSAL EN ESPAÑA	USD	24 mths	More ->
3.50%	BANCO FINANTIA, S.A., SUCURSAL EN ESPAÑA	USD	36 mths	More ->

For a curated selection of the finest deals in Spain, meticulously handpicked for you, explore our platform. It's essential to note that the interest rates presented are pre-tax and do not encompass variations in interest payment frequencies. We always recommend verifying the latest rates and terms directly with the bank before making any final decisions.

Embark on a journey of discovery as you explore a wealth of information about deposit rates in Spain and various European countries on our website. Thank you for entrusting PickTheBank as your go-to source for insights into the European deposit market.