Several Spanish entities are raising the interest on their accounts and deposits ahead of the ECB meeting on October 29, with inflation close to 5%.
According to OK Diario, Openbank, MyInvestor, and other entities have increased the returns on their savings products ahead of the European Central Bank (ECB) meeting on October 29. Surveys indicate a possible increase of 25 basis points in interest rates, while inflation approaches 5%.
Openbank announced a 3.25% APR on its interest-bearing account for 12 months, with no limit on the interest-bearing balance for new customers activating Bizum. Its six-month deposit also rises to 3.25% for those who set up at least 900 euros in recurring income and contribute new money. Other customers receive 2.75%.
MyInvestor improved its six-month deposit to 3% APR for customers with an automated portfolio starting from 150 euros, compared to 2.75% for others. Its 12-month deposits offer 3%, which rises to 3.25% with an automated portfolio.
Deposits through Raisin
On the European platform Raisin, Banca Profilo raised the interest on its 12-month deposit to 3.15%, while Banca Sistema increased several terms from two to five years to 3.25%. One-year deposits from SME Bank reach 3.35% APR and those from Mano Bank stand at 3.31%.
Some savings accounts also exceed 3%, although only under certain conditions.
Treasury Bills at Record Highs
On Tuesday, October 13, the Public Treasury allocated 2,133.91 million euros in bills, with a demand of 4,729.18 million, more than double what was placed. In the three-month bills, the marginal interest rose to 2.645%, up from 2.464% in the previous auction, its highest level since November 2024. In the nine-month bills, the yield reached 2.968%, the highest since September 2024.
For this Thursday, the agency expects to raise between 4,500 and 5,500 million euros in a medium and long-term debt auction. For the entirety of 2026, it maintains a net financing need of 55,000 million euros.
Comparing a deposit with a bill requires looking beyond the announced percentage: the term, liquidity, contracting conditions, and taxation. In the case of bills, the investor must hold the product until maturity or assume the risk of selling it earlier in the secondary market.
Pablo Vega from Roams warns that the most attractive percentages may hide balance limits, direct debit requirements, and promotional returns that decrease over time. According to his calculations, for certain balances and if conditions are met, BBVA bonuses can reach 1,060 euros.
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