Updated on 29 March 2020
ING Bank is a member of ING Group, a financial company specializing in insurance and banking. ING Bank is a universal bank offering a wide range of products and services to individuals, families, small businesses, large corporations, financial institutions, governments, public and private institutions and supranational bodies. ING Bank is a market leader in "Benelux" countries (the Netherlands, Belgium and Luxembourg) where it currently has strong market positions in retail and commercial banking. ING Bank, N.V. S.E operates as a branch of ING Bank NV (Netherlands).
Founded in 2000 as Bancopopular-E, Wizink Bank offers a range of retail banking products and services via Internet and mobile banking. In 2016 Bancopopular-E was rebranded as Wizink Bank.
BNP Paribas Group started its financial activity in Spain back in the middle of nineteenth century and bacame a fully operative bank in 1979. BNP Paribas offers a wide range of financial services to companies, financial institutions, institutional investors and individuals.
IberCaja Banco was founded in July 2011 by Spanish financial company IberCaja. IberCaja Banco provides retail banking services for individuals and small- and medium-sized companies.
Spain: This product is offered to Spanish residents only. When clicking on the product link you will be redirected to the product page in Spanish.
Savings accounts are interest-bearing deposits accounts which allow to withdraw money at any time. While offering more flexibility, savings accounts usually provide lower interest rates than term deposit accounts.
The table above shows essential details of selected savings accounts products offered to retail customers by the banks in Spain: currency, interest rate per annum and deposit term. The savings accounts terms vary from 1 month to 1 years (12 months). The interest rates are within the range 0.05 - 1.50 %. The interest rates provided in the table do not take into account withholding tax levied on interest income in Spain.
Country Deposit Rating. Spain's Moodys country ceiling (the highest rating that can be assigned) for deposits in local currency is set to Aa1 (high grade).
Deposit Guarantee. Savings accounts made with credit institutions in Spain are covered by deposit guarantee scheme up to 100,000 EUR per depositor.
Withholding Tax. Interest income gained on savings accounts by non-residents of Spain is not taxed. Interest gained on savings accounts by residents of Spain is taxed at 21.00% rate. When the interest is paid, this tax is automatically withhold from the savings account by the bank.