1. BBVA (Spain and Europe-wide)
- BBVA Cuenta Va Contigo: BBVA is one of Spain’s largest banks and offers various savings products across Europe. Their “Cuenta Va Contigo” account is popular for offering competitive interest rates, particularly for long-term deposits. You may also find promotional interest rates for new customers, but these rates can vary based on the country and financial market.
- BBVA Online Savings Account: In some regions, BBVA offers online-only savings accounts with favorable interest rates and no fees for managing the account, making it easy to access and manage funds digitally.
2. Illimity Bank (Italy)
- Illimity High-Yield Savings Account: Illimity is an online-only bank in Italy that offers some of the most competitive interest rates on savings. Their high-yield savings accounts, also known as “Conto Deposito Illimity,” offer flexible terms ranging from short to long-term deposits with interest rates that increase the longer you lock in your savings. Illimity often has promotional rates for fixed-term savings.
- Illimity Flexibility: They allow users to choose between fixed or flexible deposit accounts, giving savers the option to withdraw funds early if needed, although at a slightly lower interest rate in some cases.
3. Trade Republic (Germany and Europe-wide)
- Trade Republic Savings Plan: Known primarily as a trading platform, Trade Republic has recently started offering interest on cash savings through their “Cash Account” feature. It’s not a traditional savings account but a cash account that offers competitive interest on balances held in the account.
- High-Interest Rate Offering: Trade Republic is partnering with European banks to offer interest rates of around 2% or more on savings. The interest is applied to your cash balance without needing to lock it in for a long period.
- Instant Access to Funds: Unlike fixed-term savings accounts, Trade Republic allows you to instantly access your cash balance, making it a flexible option for those who want to maintain liquidity while earning a return on their savings.
Each of these banks offers competitive rates, but the terms and availability may differ based on where you’re located. Make sure to review the specific offers for your country to get the most value from your savings.
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