With inflation at 4.9%, leaving money in an interest-free account means losing purchasing power each month. Several institutions now offer up to 4% APR, although with conditions worth reviewing.
According to information from que.es, interest-bearing accounts offering up to 4% APR are gaining prominence on World Savings Day, celebrated this Saturday, October 31. The CPI remained at 4.9% in October, with the core rate, which excludes energy and fresh food, at 3.1%. Keeping money idle in an interest-free account means losing purchasing power month after month.
According to Ibercaja Gestión analyst Jaume Saenz de Santamaría Malo, €10,000 from 2016 is equivalent today to €7,500 in purchasing power, as the euro has lost 25% of its value over ten years. Meanwhile, the household savings rate stood at 18.7% of gross disposable income in the second quarter of 2026, down from 19.9% in the same period of 2025, according to the INE.
In that same quarter, final consumption expenditure by households grew by 7.1%, while gross disposable income increased by 5.5%.
A compilation by Finect shows that no interest-bearing account matches the 4.9% CPI, although some come close without requiring a salary or direct debits. For comparison, it is advisable to look at the APR, which reflects annual returns with the effect of compound interest.
Monzo offers a 4.00% APR for 12 months on the first €5,000 and a 2.50% APR up to €100,000 in its standard savings pot. The enhanced savings pot must be opened before December 31 and is guaranteed by the Irish deposit system, up to €100,000 per customer.
Revolut pays 3.51% APR up to €25,000, but only for four months and for new customers who make three card payments every 30 days. After that, the rate depends on the plan chosen, ranging from 1.15% to 2.27% APR, with Lithuanian guarantee.
Openbank pays 3.25% APR for 12 months, with no balance limit, provided Bizum is activated, backed by the Spanish fund. The promotion ends on November 16.
Before signing up, it is advisable to check how long the promotional rate lasts and what return remains afterward, what maximum balance earns interest, what requirements are needed (salary, bills, card payments, or Bizum), and what guarantee fund backs the money. The Spanish fund covers up to €100,000 per customer and entity, similar to the Irish and Lithuanian guarantees.
The Bank of Spain insists on the habit over the product: setting aside a portion of income as soon as it is received, through an automatic transfer. According to Inverco, with data from the supervisor, families hold €3.65 trillion in financial assets, with 32.0% still in deposits and cash. Investment funds reach a historic high at 17.5% of the total, €639.042 billion.
If a problem arises with an institution, the recommendation is to complain in writing to customer service and keep the receipt. If the response is delayed or unsatisfactory, one can approach the Bank of Spain, a consumer association like the OCU, or the municipal consumer office in the locality.
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