Deposits and accounts to earn more than 4% with zero risk

The year 2023, which is coming to an end, has marked a before and after in the remuneration of risk-free savings products. The explosive rise in interest rates in the euro zone has been transferred to the remuneration of time deposits and remunerated accounts with or without conditions.

In deposits, savers have more options than ever to choose from in all types. Now, returns of 4% APR (equivalent annual rate) or more can be achieved in all terms.

The best offers correspond to medium-sized European entities that are making a very strong bet in Spain. Currently, there are 15 deposits with interest rates ranging from 4% to 4.30% and are covered by the guarantee funds of their respective countries.

At three months, the best offers correspond to the Italian BFF and the Portuguese BiG, which pay 4.06% and 4% APR.

After six months, once again BiG and the Portuguese BAI Europa take the cake, with returns of 4.32% and 4.20%, respectively.

Returns much higher than the market average that are not far from those of the best deposits in the star term of one year, where four entities are paying between 4.10% and 4.30%, with Banca Sistema at the head .

However, many of the most generous entities on the market have begun to adjust downward the returns they offer to savers.

The differences with respect to Spanish banking are high. EBN Banco, Banca March and SelfBank are the most generous Spanish entities, with returns of up to 3.30% over 12 months.

While the returns on the best deposits leave the maximums behind, those on the accounts continue to grow in the segment of those without conditions.

In recent days, the Swedish entity Klarna has raised the yield to 3.29%, while the French Distingo Bank has raised it to 3.20% APR. Between the two is the Norwegian Lea Bank, with a return of 3.24% APR. Above are Norwegian Bank and Banca Progetto with returns of 3.5% APR in both cases.

The best Spanish payer is EBN Banco, which offers 3% for a maximum paid balance of 50,000 euros.

But there is another way to achieve high rewards from neobrokers and investment platforms that are rewarding clients with returns that are between 2% and 4% for unused liquidity account balances.

The most aggressive offer in euros is that of Trade Republic, which in September raised the remuneration for both new and existing clients from 2% to 4%. Trade Republic sets a maximum paid balance of 50,000 euros. Other firms such as XTB, Bitpanda or Freedom Finance have also attractive offers.

Salary accounts also offer attractive returns, although in this case the maximum remuneration is important.

The most generous offer is that of Ibercaja, which pays 5.09% APR the first year for the first 10,000 euros of balance. For the second year it offers 3.03% APR. This remuneration is equivalent to 500 euros gross the first year and 300 euros the second year.

The next best offer is the Bankinter payroll account, which pays 5% the first year and 2% the second. In total, the longest account on the market allows you to obtain up to 683.52 euros gross.

The highest interest rate is from the Openbank Payroll Welcome Account, which pays 5.12%. In this case, the maximum remuneration is 5,000 euros, which represents an annual remuneration of 250 euros gross. From the second year onwards, it gives 0.20% APR.