July 29, 2021

Short-term deposits: those that best resist

Short-term deposits: those that best resist


FINANZAS.COMUpdated:

The large national bank has renounced deposits. But this does not mean that there are no entities that are unmarked. Banking Farmafactoring is one of them. The bank of Italian origin has just raise the profitability of your deposit to six months up to 1.20% APR. A blow on the table in full force. Those who are interested in this product have to hurry, since the offer will be valid until the end of November, although it is possible that they continue to extend it as they did in October.

The explanation, according to Javier Mezcua, expert of HelpMyCash, is that "short-term deposits have been placed outside the downward trend that the market has been suffering for some time". These fixed term deposits for periods of up to six months and with returns above the average are marketed basically for a double reason. By foreign entities that want to raise funds and customers in Spain or by online entities with lower expenses and therefore with more margin to offer attractive remunerations.

Raisin, the platform that acts as a supermarket of deposits, points out that customers choose "clearly for the short-medium term, from the savings account up to 3 years maximum". The reason is that "savers are awaiting the expected trend change in interest rates from the second half of 2019".

Read the full story at Finanzas.com

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