Business · Economy · 5 hrs ago
Spain’s term deposits rise 10.5% in a year as higher rates attract savers
Term deposits held by households and businesses in Spain reached €245.6 billion in August, 10.5% more than a year earlier.
These deposits keep money locked away for a set period, usually in return for interest.
Higher interest rates have made them more appealing to savers than they were a year ago.
The increase also comes as people have more choices, including interest-paying accounts, government bills and money market funds.
Banks say savers are paying closer attention to what different products pay, and digital banks have added to competition.
The recent growth does not necessarily mean households are saving much more; some of the money may have moved from regular accounts into term deposits.
Spain’s term deposits grew 10.5% year on year in August to €245.619 billion, according to figures from the Bank of Spain.
The total includes deposits held by households and businesses.
The increase comes as higher interest rates make term deposits more attractive to savers.
Growth accelerated from 9% year on year in July, after more moderate increases earlier in the year.
Financial sources said some of the increase may reflect money moving from current accounts rather than a substantial rise in household saving.
- Who
- Spanish households and businesses holding term deposits.
- What
- Term deposits grew 10.5% year on year in August, reaching €245.619 billion.
- When
- August; the article was published on 11 October 2026.
- Where
- Spain.
- Why
- Higher rates and more attractive offers have encouraged savers to seek better returns.
This story does not have two clearly opposing sides.
Customers compare remunerated accounts, deposits, Treasury bills and money market funds much more; digital banks have intensified competition and moving money is much easier.
The Euribor began to rise in January 2022, but term deposit remuneration did not clearly take off until around a year later.
Term deposits were growing at a moderate pace.
Term deposits grew 9% year on year.
Term deposits grew 10.5% year on year, reaching €245.619 billion.
- August balance
- €245.619 billion
- Year-on-year growth in August
- 10.5%
- Year-on-year growth in July
- 9%
- Data source
- Bank of Spain statistics
- Included deposit holders
- Households and businesses
Sources
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