The best deposits of May 2023

In today’s uncertain economic times, customers are wondering how to get the maximum return on your savings, regardless of how they are. In early May, the European Central Bank raised interest rates by 0.25% standing at 3.75%.

Similarly, the Euribor has been rising since the beginning of 2022 and has closed April with a average of 3.78%. All of this has had an impact on the profitability of the Treasure letters and in fixed-term deposits, with more and more people betting on short-term deposits (6 months).

In this month of May 2023, time deposits have been triumphing as financial products that offer high profitability, are easy to understand and are considered low risk. The higher the APR, the greater the increase in savingsso it will be essential when analyzing the different options that are presented.

In addition, deposits succeed by having a guarantee fund of up to 100,000 euros in case of bankruptcy or insolvency of the financial entity. The following are the most profitable ones today.

OpenBank

It offers users a fixed term deposit of 12 months duration with a remuneration of 2.76% APR and annual TINby debiting a salary or monthly income in a current account of the entity itself, or, with a 1.75% TA and TIN per annum without the need to domicile anything.

This deposit is currently presented as one of the most attractive on the market due to the flexibilitythat it offers to its holders by not requiring a minimum remunerated amount. In addition, the client may cancel the product whenever you want, without the need to reach the expiration date. However, in such circumstances, profitability will be reduced to 0.20% APR and annual TIN while the product was active.

Targobank

He 24-month impulse deposit offers a high profitability of 3% APR and 2.96 TINwith users being able to choose the periodicity of their settlements (monthly, quarterly, annual or at expiration). can be requested onlinealthough his requirements They are: being a tax resident in Spain, over 18 years of age and having an open checking account with the entity.

To enjoy these benefits, you must have a deposit minimum of 10,000 eurosbe a new customer or deposit capital from a new external contribution.

Younited

He 36-month Younited bank deposit offers holders a profitability of 3.35% APR, becoming the most outstanding product for this same duration among all those that are available to users. However, it will be necessary to minimum income of 2,000 eurosbeing the maximum remunerated amount of 100,000 euros.

In the same way, the liquidation of the interests will be made at maturity, that is, 36 months after having done it, in such a way that it will not allow early cancellation or have the money for three years. As an advantage, it should be noted that the hiring process is online.

Users interested in this type of bank deposit will be able to access another four from Younited with a duration between one and five years, varying profitability between 2.99% APR and 3.50% APR.

Bank System

This Italian bank founded in 2011 is specialized in factoring, a financial service consisting of the transfer of invoices pending payment to a third party who will assume the risk of non-payment. It does not allow contracting six-month deposits, but it does invest at least 5,000 euros.

Banca Farmafactoring

The fact account presents a deposit with a return of 3.29% APR at one yearwith a minimum investment of 5,000 euros. It does not allow early cancellation and interest will be paid quarterly. In the same way, in the event of insolvency, the support of the Italian Deposit Guarantee Fundwhich covers up to 10,000 euros per holder.

Banca March

This bank of Spanish origin offers an interesting deposit of a 2.3% APR for 12 monthsalthough it will require us to open the online account without commissions and deposit a minimum of 10,000 euros in order to make the savings profitable. The maximum remuneration will be 500,000 euros, making it ideal for savers with large amounts of capital. Likewise, it is protected by the Deposit Guarantee Fund of Spainwhich guarantees the first 100,000 euros.

Wizink

This financial institution offers one of the best deposits in May. Within 36 months it provides a return of 2.50% APR. Like Facto, it will not charge a commission if the deposit is made for a value equal to or greater than 5,000 euros. If contracted for 18 or 25 months, the percentage would be 2% or 2.30% TAE, respectively.

EBN Banco

They are sinycon depot offers a return of 2,90% TAE a 12 mesesbeing the minimum initial investment, mandatory, of 10.000 euros. In addition, it will not be possible to establish an early cancellation model.