Business · Markets · 4 hrs ago
Banks raise returns on three- and six-month deposits
Banks in Spain and other European countries are raising returns on three- and six-month deposits as they adjust to changing expectations for interest rates.
They are also cutting some one-year rates, which reached as high as 3.5% in late September.
The European Central Bank kept its main rate at 2.5% and its president said a further increase in December was likely, pending new data.
Markets expect a 0.25 percentage-point rise, which would take the rate to 2.75%.
The gap between the best six- and 12-month offers has narrowed, with some shorter-term rates now close to the most competitive one-year rates.
Banco Finantia has introduced a six-month deposit at 3.25% annual equivalent, while Banco BiG offers 4% for three months on new money.
The ECB’s December decision will depend on fresh inflation data, including whether energy costs are feeding into prices more broadly.
Spanish and European banks are raising returns on three- and six-month deposits offered in Spain.
The moves come as banks reduce some of their best one-year deposit rates from late-September highs.
Banco Finantia launched a six-month deposit paying 3.25% annual equivalent rate for new deposits.
Banco BiG offers a three-month deposit at 4% for new money and raised rates on its three- and six-month products.
Banks are responding to expectations that interest rates could rise in the coming months.
- Who
- Spanish banks and European banks offering deposits in Spain.
- What
- Banks are increasing returns on three- and six-month deposits. Some are also reducing rates on one-year deposits.
- When
- The changes were reported on October 30, 2026; several were made this week.
- Where
- The Spanish deposit market.
- Why
- Banks expect possible interest-rate increases in the coming months, while the European Central Bank has signalled a more gradual path.
This story does not have two clearly opposing sides.
The European Central Bank ruled out sharp 50-basis-point rate increases in a single move.
The European Central Bank kept its policy rate at 2.5%.
Christine Lagarde said a further rate increase was more than likely at the December meeting, pending confirmation from economic data.
Banco Finantia launched a six-month deposit paying 3.25%, and Banco BiG improved rates on its three- and six-month deposits.
- European Central Bank rate
- 2.5%
- Expected December increase
- 25 basis points, to 2.75%
- Banco Finantia six-month deposit
- 3.25% annual equivalent rate
- Banco BiG three-month deposit
- 4% for new money
- Banco BiG three- and six-month rates
- 2.75% and 2.90%