The interest rate on an account may vary depending on interest rate trends and the bank’s commercial policy. Banks are currently paying very low or zero interest rates.
The interest rate on your account will be defined in the terms and conditions. This rate
can be fixed or variable based on an agreed index.
Banks often pay higher interest if:
- You have your salary, pension or other regular income paid directly into your account.
- You set up direct debits for your bills, card payments, etc.
- You accept certain restrictions on your account, such as using a card for cash withdrawals and not being able to use direct debits.
To compare the different accounts available on the market, it is essential to check the Annual Percentage Rate (APR), which indicates the actual return of an account, as it not only includes the interest rate, but also the fees and expenses incurred when opening an account.
As accounts usually have an unlimited lifespan, it is common for banks to change the interest rate from time to time. However, advance notice must be given of any changes.
To learn more about interest rates, see our Report (in Spanish)Abre en ventana nueva
FREQUENTLY ASKED QUESTIONS
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What happened to ‘aportaciones de fondos’ (fund contributions)?
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Can I withdraw cash at a branch other than where my account is held?