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Tuesday, March 21, 2023

ING offers a new deposit for three months at 2% APR

The improvement in the remuneration of savings is gradually reaching the banking customers, without any bank launching a commercial campaign for now. ING is the latest thing to take a small step forward and has decided to introduce a new deposit at 2% APR with a deadline of three months for new deposits made to the bank between today and March 27. Punctual management therefore, but which would not fail in the face also offers in Spain in the last few days in Spain other fintech and online banks launched.

The new ING deposit does not require a minimum amount and takes up to 100,000 coins. The money deposited will always be available and can be repaired, in whole or in part, at any time without any cost or commission. The result of 2% APR implies that the reward is achieved over a period of one year, so that after three months it would be received at 0.5%.

ING offers a second deposit for a term of 18 months with a return of 0.95% and maintains the Orange Account at 0.7% APR. The company also sells a target income fund, with a 2% APR in addition to the expected profit over two years. The subscription period for the product ends on April 28. ING thus joins many troubled commercial banks that are investing in the sale of fixed-income vehicles.

Deposit rates have not yet taken off in the Spanish market, despite a sharp rise in interest rates from the ECB. The banks themselves, led by Christine Lagarde and the Bank of Spain, are increasing their pressure on the Spanish financial sector for rate hikes to transfer debt, not just credit.

The highest return on deposits that can be found in the Spanish market is about 2.5% APR for one year. This is the case offered by Pibank without minimum or maximum amount conditions. On current accounts, Openbank has recently raised the remuneration payable on its Welcome Salary Savings Account to 5.12% APR up to a maximum of 5,000 euros per 12 months.

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World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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