The latest commitment by EBN Banco (Spanish Business Bank) to obtain a greater number of clients has stood out from the rest of the financial entities, which have chosen to increase interest for remunerated accounts without linkage. The bank has decided to offer an increase in its interests from 1.25% APR (Annual Equivalent Rate) to 3% APR for installments of between 3,000-10,000 euros in a quarterly period, with the aim of making them private clients.
But with the latest increase in interest rates by the European Central Bank (ECB), which already stands at 4.5%, some national and international banks based in Spain offer their services through these unlinked accounts and with great profitability. In this case, none of them will have a higher TIN (Nominal Interest Rate) with which EBN Banco has exploded the market, but they can offer great profitability for their potential clients.
Renault Bank, the most profitable option
From the Kelisto.es comparator, the best offers to achieve great profitability are offered by Renault Bank, a bank based in Spain with a French Deposit Guarantee Fund, according to HelpMyCash. This bank, according to Kelisto data, offers a TIN of up to 2.6% and does not have a maximum remunerative balance. Bank Norweigan is positioned as the next savings account with the highest profitability, with interest of 2.5% TIN and with conditions similar to the previous one, since it does not refer to a maximum paid balance. In the following order appears EVO Banco whose remunerated account is 2.5% TIN, but has a limit of until November 30 of next year, 2024 and a maximum remunerated balance of 30,000 euros.
The Kelisto comparator includes Banco Sabadell on the list as the next highly profitable bank, since it also pays 2.5% TIN, but in this case it has 12 months and a remuneration balance of up to 30,000 euros. N26 is the next entity with the highest profitability, having a 2.26% TIN and without the need to obtain a maximum remunerated amount.
Pibank, Trade Republic and Myinvestor are the following banks with which you can obtain great profitability. All three reward their clients with a 2% TIN, but the differences appear in relation to the TIN in the following installments and the maximum amount paid. In the case of Trade Republic, there is a maximum import to remunerator, as also happens in the Spanish bank Myinvestor, which in comparison, will have 12 months of application of the TIN and 0.3% in subsequent months. Orange Bank with a 1.8% TIN is the ninth most profitable entity with up to 200,000 euros as a maximum amount, and finally, Cajamar with a 1.75% TIN, which in this case does not have a maximum amount.
The financial expert of the financial buyer HelpMyCash, Javier Mezcua, tells La Información that “those who can find these accounts very useful are savers who are looking for a product to make their money profitable with which they can save at their own pace.” Something supported by Pedro Ruiz, responsible for Kelisto’s personal finance content, which includes, for example, Banco Sabadell or EVO Banco as those in which operations can be carried out daily.
Mezcua emphasizes that “the best conditions are usually reserved for new clients,” since opening this type of account “does not require conditions or a connection with the bank,” says Ruiz. For his part, not all are advantages, since there are other services with which clients could opt for greater profitability, such as “betting on a deposit,” he comments from Kelisto. Although when choosing one or another product, everything depends on the needs, the experts explain to The Information. In terms of profitability, HelpMyCash states that they can even be combined, since deposits generate more profitability, while paid accounts are a “much more flexible” product, something that the head of Kelisto also declares.
