Choose your bank deposit
One of the most favorable financial products that exist today is bank deposits . They offer a moderate profitability and their security is what prevails over any other banking product. Find in our comparator all the available deposits that are currently available.
Find the one that best suits your needs according to the profitability it has, whether or not it has commissions, the term of the same and the minimum and maximum limits of each of them.
Request here the Bank Deposit
In the table below we have published the best bank deposits that can be found today, access with the request button and we will redirect you to the entity:
You will also find one in which you can make the hiring completely online! Later on we will talk about how to identify a deposit of risk products, such as the “ preferred ” ones.
Having a deposit means that you deposit (worth the redundancy) your money in a fixed way in an account where, at first, said money cannot be withdrawn within a period stipulated by the bank.
Otherwise, a penalty is applied which will never be greater than the interest accrued in the period that has passed since the deposit was formalized.
This is the main difference with paid accounts , which can have the money at any time.
It should be noted that bank deposits will always be insured by the Deposit Guarantee Fund , which insures up to € 100,000 per deposit from each taxpayer in the event that something happens with said capital due to error or mismanagement of the bank.
Now, we are going to talk about the most demanded deposits that exist today.
They are the most common. A certain time is established by contract to leave your money in a deposit without being able to use it . They are usually months, half a year, a year and even more.
It makes a profit at a fixed interest and it is in the same contract that it must be detailed in which terms our obtained interests will accrue . This can be monthly, quarterly, semi-annually, annually or as soon as said contract ends.
You will never lose the capital invested even if for some reason, you must have your money assuming a small penalty for it. In which case, the money that remains in your deposit will continue to earn the same interest. Within this type of deposit, there are also those that instead of remunerating interest on your money, they offer you a physical product; a gift .
The bank will often offer you attractive products such as a television, tableware, a set of suitcases ... in exchange for depositing your money in a term deposit without being able to cancel it or have your money available whenever you want. They tend to be more restrictive and are not convenient if what we really want is to get a return on our savings.
Variable interest deposits
These deposits work the same as those with a fixed term, but with the difference that you will never know the real interest that the bank will be making you profitable for your money. The reference is usually the Euribor plus the differential that your entity offers you.
Otherwise they have the same operation in terms of terms, when interest accrues and if there is a penalty in withdrawing some of the capital saved.
Although today, deposits are not even half as profitable as they were a while ago, there are still (especially families) who demand this financial product to shelter their savings and obtain a return on them. Now, to obtain a higher profitability, there are structured deposits , which mix two types of profitability; a fixed-term deposit combined with an index which can come from a basket of stocks or other financial assets.
They do offer a higher return but their risk is also higher than that of a normal deposit, since as we have said in the previous paragraph, it will depend on the operation of the stock market.
It should be added that, although it is guaranteed by the Deposit Guarantee Fund, only the part that is related to the common deposit will be guaranteed. Everything that has to do with the index of the basket of shares will not be safeguarded by said entity.
Why choose a warehouse and not another product?
In a deposit, security is premium , since it has two protection barriers in the event that anything happens that could affect us and our savings; the financial institution's own solvency and, secondly, the Deposit Guarantee Fund, which guarantees, as we have said before, up to 100,000 euros per taxpayer.
Before signing any document, you have to read the fine print to know at first, what are the consequences if we decide to cancel our deposit in advance (in many cases it is not possible), if we want to get money from said deposit, what penalty we must contribute (it should never be higher than the interest accrued until then) ...
As a final tip, when deciding which deposit to choose, many experts say that you should choose the deposit that has a higher return than inflation , which is usually around 2 - 2.5% per year.
With this, we end our brief explanation about bank deposits by highlighting the need to read any contract that is going to be signed from start to finish, to ensure that we are really hiring the right product for our savings.