With the Euribor stabilizing and the ECB keeping rates around 2.5%, April 2026 remains a reasonable time to invest in guaranteed savings products. Yields are no longer at the record highs of 2023, but the range of interest-bearing accounts and deposits available in Spain is still far greater than in previous years.
In this article, we review the best options available right now, using data verified in our database, which is updated daily.
Contents
- Best interest-bearing accounts (no fixed term)
- Best fixed-term deposits
- Complete comparison table
- How to choose between a savings account and a deposit?
- Guarantees: What the FGD Covers
- Frequently Asked Questions
Best interest-bearing accounts (non-term)
Interest-bearing accounts offer immediate liquidity: your money is always available, and interest accrues daily. The trade-off is that the bank can lower the rate at any time.
XTB — 3.50% APR (promotional rate for the first 3 months)
XTB launched its euro savings account with an introductory rate of 3.50% APR for the first 90 days. After that period, the rate drops to 2.00% APR. No fees, no minimum balance, and no lock-in period. It is currently the most aggressive option on the market for new customers looking to maximize short-term returns.
Guarantee: broker regulated by the KNF (Poland) and the CNMV. Funds in the cash account are segregated.
Trade Republic — 3.50% APR
Trade Republic offers 3.50% APR on the uninvested cash balance, with daily liquidity. It is one of the few products that combines a high-yield savings account with access to investing in stocks, ETFs, and bonds from the same app. No minimum balance required.
Guarantee: German Deposit Protection Fund (EdB) up to €100,000 in cash.
MyInvestor — 2.55% APR
MyInvestor (partly owned by Andbank) maintains its interest-bearing account at 2.55% APR with no conditions. Immediate liquidity, no custody fees, and access to index funds and automated portfolios on the same platform. A good option for those who want to centralize savings and investments in one place.
Guarantee: Spanish Deposit Guarantee Fund (FGD) up to €100,000.
WiZink — 2.10% APR
WiZink offers its Savings Account at 2.10% APR, with full liquidity and no minimum balance. Less profitable than the previous options, but it is a well-known institution with a 100% digital operation that has been well-established in Spain for years.
Guarantee: Spanish Deposit Guarantee Fund (FGD) up to €100,000.
Best Fixed-Term Deposits
If you don’t need the money in the next 6–24 months, a fixed-term deposit allows you to lock in the rate today and protect yourself from future drops in the Euribor. In exchange, you would lose the interest (or pay a penalty) if you withdraw before maturity.
Freedom24 — 3.75% APR in euros
Freedom Finance Europe offers savings accounts in EUR at 3.75% APR, which are among the most competitive on the European market. Also available in USD at 5.37% APR for those who want to diversify their currency holdings. No opening fees and monthly liquidity.
Guarantee: Cyprus Investment Compensation Fund (ICF) up to €20,000. Important: coverage is lower than the Spanish Deposit Guarantee Fund (€100,000), although the entity is a regulated European broker.
Scalable Capital — 2.50% APR
Scalable Capital offers a savings account at 2.50% APR, with access to ETFs and automated investment plans. The savings account is available to customers on any plan, including the free one.
Guarantee: German fund (EdB) up to €100,000.
Pibank — 2.12% APR (12-month deposit)
Pibank (the neobank of the Pichincha Group) offers a 12-month deposit at 2.12% APR. It is a simple product with no hidden conditions, and interest is paid upon maturity. Requires opening a free checking account.
Guarantee: Spanish Deposit Guarantee Fund (FGD) up to €100,000.
Complete comparison table
| Institution | Rate | APR | Term | Collateral | Liquidity |
|---|---|---|---|---|---|
| XTB | Interest-bearing account | 3.50% | 3-month promo | Regulated broker | Instant |
| Trade Republic | Interest-bearing account | 3.50% | No term | EdB €100,000 | Daily |
| Freedom24 | EUR savings account | 3.75% | No term | ICF €20,000 | Monthly |
| MyInvestor | Interest-bearing account | 2.55% | No term | FGD €100,000 | Immediate |
| Scalable Capital | Savings account | 2.50% | No term | EdB €100,000 | Immediate |
| WiZink | Interest-bearing account | 2.10% | No term | FGD €100,000 | Immediate |
| Pibank | 12-month deposit | 2.12% | 12 months | DGS €100,000 | No (until maturity) |
Data verified as of April 1, 2026. Rates are subject to change without notice. Always check the current terms and conditions on each institution’s website.
How to choose between an interest-bearing account and a term deposit?
The decision depends primarily on your time horizon and tolerance for illiquidity:
- If you need access to the money in less than 6 months: opt for an interest-bearing account. Trade Republic or XTB are the most profitable right now.
- If you can tie up your money for 6–24 months: term deposits typically offer slightly higher rates that remain fixed throughout the entire period.
- If you have more than €100,000 to invest: spread it across several institutions so you don’t exceed the FGD limit at any one. Raisin makes this easy by giving you access to multiple European banks from a single account.
- If you want to combine savings and investing: Trade Republic, MyInvestor, or Scalable Capital let you manage everything from the same platform.
Guarantees: What the Deposit Guarantee Fund Covers
In Spain, the Deposit Guarantee Fund (FGD) protects up to €100,000 per account holder and institution in the event of a bank failure. This means that if you have €80,000 in MyInvestor and €60,000 in WiZink, both amounts are 100% covered.
Key points you should know:
- The limit is per account holder, not per account. If you have multiple accounts at the same institution, the FGD covers the combined total up to €100,000.
- Joint accounts are counted per account holder: a 50/50 shared account provides €50,000 in coverage for each co-holder.
- European brokers (Trade Republic, Freedom24, Scalable) operate under the guarantee fund of the country where they are regulated (Germany, Cyprus), not the Spanish FGD.
- Freedom24 is covered by the Cypriot ICF up to only €20,000, which is significantly less.
Frequently Asked Questions
What happens to interest rates if the ECB cuts rates?
Interest-bearing accounts are variable: if the ECB cuts rates, banks can reduce their APR without prior notice (though in practice they usually give a few weeks’ notice). Fixed-term deposits maintain the agreed rate until maturity, regardless of what the ECB does.
Do you have to pay taxes on the interest?
Yes. Interest is taxed as investment income on your income tax return. For 2026, the rates are: 19% up to €6,000, 21% between €6,000 and €50,000, 23% between €50,000 and €200,000, and 27% on amounts over €200,000. The bank already withholds 19% directly, and you adjust this on your tax return if your marginal tax rate is different.
Can I open an account with Trade Republic if I already have an account at a Spanish bank?
Yes. Trade Republic and most of the neobanks mentioned are compatible with having an account at any Spanish bank. These are not primary checking accounts, but rather supplementary accounts designed to optimize savings returns.
How long will it take for XTB to go up to 3.50% if I open an account today?
The promotional rate of 3.50% applies from the first day after the account is opened and validated. It remains in effect for the first 90 calendar days from the activation of the savings account, not from the deposit of funds. Read the terms carefully, as conditions may vary.
Conclusion: Where to move your money in April 2026
If we’re looking for guaranteed returns, the logical order in April 2026 would be:
- XTB or Trade Republic for immediate liquidity and maximum APR (3.50%)
- Freedom24 if you’re looking for 3.75% and accept the lower coverage of the Cypriot ICF
- MyInvestor for a comprehensive ecosystem (savings + index funds) with Spanish deposit insurance
- Pibank if you can lock funds for 12 months and prefer a bank with classic Spanish deposit insurance
Remember that financial markets change: interest rates on interest-bearing accounts are updated frequently. At APYData, we monitor these products daily so you always have the most up-to-date information.
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