The rise in interest rates by the European Central Bank (ECB) has revitalized the profitability of deposits and interest-bearing accounts, especially of small and medium-sized European banks, which already offer remunerations that exceed 3% over two years (the highest since the end of December 2013). This dynamism makes them an ideal product for those who have won a prize in the Extraordinary Christmas Lottery Draw and who have a conservative profile.
Estefanía González, Kelisto’s personal finance spokesperson, explains that both remunerated accounts and deposits allow “to know exactly how much they are going to earn; also know that they will never lose what they invested (at most, in case of having to recover the money before time, the maximum that they would be charged in the form of a penalty is the interest generated)” and, finally, they have the protection of the Fund Deposit Guarantee, which supports up to 100,000 euros per entity and owner in the event of bankruptcy of the entity.
For his part, Víctor Alvargonzález, director of strategy analysis and founding partner of Nextep Finance, adds that fixed-term deposits allow any hint of volatility to be eliminated. When placing the prize money in a deposit, Alvargonzález advises betting more on short than long terms. The reason is that the European Central Bank (ECB) will surely continue to increase interest rates. “After the speech of its president, Christine Lagarde, everything indicates that the ECB will raise interest rates by 50 basis points on at least two more occasions until placing them at 3.50%.”
What does this mean? When choosing a deposit or interest-bearing account, Alvargonzález points out that the future client should rule out any product that gives less than 2.5% and would bet on deposits that yield 3% or more precisely because of those same perspectives that the market has the market the upcoming ECB rate hikes.
Deposits to earn more than 3%
In any case, González explains that if the Gordo prize is achieved (or failing that, a significant prize, for example, from 100,000 euros), the strategy would be to distribute that amount in different terms, in the short and medium. The reason? “Deposits improve month by month and committing to very long terms would prevent us from taking advantage of more juicy offers that come in the future,” the expert asserts.
In this section, what options will the winner have? Among them, I would highlight the Cuenta Facto, from Grupo Banco Farmafactoring, which offers a remuneration of 2.52% APR for six months. Precisely this product, which acts as an account due to the fact that the client can choose the expiration day, would allow obtaining a return in line with the current price of money, but without losing the opportunity to contract other products as they become available. improve returns.
As for one-year deposits, the preferred term among Spaniards, the yield is close to 3%. Specifically, there are several time deposits with a return of 2.90%. This is the case of CKV deposits or the Italian entity Banca Privata Leasing, marketed through the Raisin platform. You can invest up to 100,000 euros in these products. For an imposition of 50,000 euros the gross profit of 1,450 euros.
In the longer term, profitability is already above the psychological level of 3%. Specifically, Fjord Bank, of Lithuanian origin, and Banca Privata Leasing sell products with a remuneration of 3.05%, which have a maximum remuneration amount of up to 100,000 euros. If you opt for any of these products, the gross return would be around 3,100 euros. However, the return could be multiplied if the winner opts for longer-term products, whose returns far exceed 3% (up to 3.45% is paid by the French 5-year Younited).
Paid accounts to earn up to 2%
The remunerated accounts, “without connection, because in a case like this it would be better to avoid “ties”, González insists, offers a maximum of 2%, but with limitations. And it is that the remunerated accounts delimit the maximum amount to be remunerated in most In most cases, such as Banco Sabadell or MyInvestor products, or the remuneration they offer does not, for the moment, exceed 2%.
For example, I would highlight the Sabadell Online Account with a return of 2%, but only during the first 12 months (“which would force us to move the money after that period”, says Kelisto’s personal finance spokesperson). An amount should be allocated to this type of product, which varies depending on the possible liquidity needs that you may think you may have or “the amount that we prefer to have fallow while waiting for fixed-term deposits to improve even more.” ”, he concludes.