miércoles, 14 de febrero de 2018

The profitability of deposits does not exceed 0.4% of Spanish banks

Offering deposits of Spanish banks is increasingly limited in quantity and profitability. Except for some special case, the current situation can be summarized as follows : there are entities that have virtually abandoned the market, such as Banco Santander and CaixaBank, while those that do offer them to customers they do at low or personalized interests, such as BBVA, or Ibercaja Banco Sabadell. Get something higher returns depends in some cases hiring conditions or customer loyalty.
In short, deposits of life are becoming an endangered species in Spanish banks. Gone are the battles for the liability between large banks with offers of 4% APR. The limits imposed by the Bank of Spain, first, and cutting official ECB rate to 0%, then have ended up relegating deposits a (very) discreet background in the case of domestic banks. The compensation that are advertised are generally less than 0.1% TAE and the highest, 0.40% TAE in the case of Bankinter , require purchase additional products of the entity. The most striking interest of 1.51% APR offered Abanca , is linked to a pension plan.

 
According to the Bank of Spain, the weighted average rate of new deposit operations stood at 0.08%. Still, according to the financial statements of the Spanish Banking Association (AEB), are continuing deposit inflows and the balance of deposits of the member entities exceeds 600,000 million euros.
The first Spanish bank, Banco Santander , has long banished deposits its catalog and refers customers to your Account 1, 2, 3 paid. CaixaBank , meanwhile, does not have a specific offer and its website advertises 'My Piggy Bank', which he describes as "a form of deposit money in sight for receiving orders, through which the holder of the deposit may establish an objective or quantified savings plan determined by him. "
BBVA announced on its website online deposit that little income 0.02% APR to 13 months from 1,000 euros. It has a product with higher profitability, but is a combined deposit with an investment fund. Bankia paid hasa 0.04% TAE at best; Unicaja, 0.08% TAE, and Ibercaja , 0.05%. With the latter interest, for an amount of 3,000 euros within six months the total payment amounts to 0.75 euros.
Banco Sabadell , Liberbank and Cajamar customize interest rates depending on the term chosen and the customer profile. Cajamar requires even take the payroll.
Meanwhile, Wizink, whose main shareholder is the US fund Värde Partners, stands with an offer of 1% APR to 18 months. Currently, the most profitable Spanish market deposits offer foreign entities operating in Spain or European banks whose products can be contracted through platforms such as Raisin. In addition, the duration of the deposits is longer than in the case of Spanish banks, with maturities of between three and five years.
Banking Deposit Facto FARMAFACTORING income 1.25% APR to five years from 10,000 euros. And with that amount you can get a 1.92% APR J & T Banka, covered by the Deposit Guarantee Fund of the Czech Republic.

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