Updated on 20 January 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).
Banco de Sabadell SA is one of the largest banks in Spain. Banco de Sabadell is a universal bank specializing in providing financial services to natural persons and small- and medium-sized enterprises.
Banco Mediolanum provides retail banking products and rervices to natural persons in Spain. Banco Mediolanum assigns a consultant to every customer, so its customers enjoy personalized service and easy access to the bank available 24 hours a day, 365 days a year.
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.
Banco Finantia Sofinloc (BFS) focuses on a personalized advice on asset management, financial markets and specialized financing.
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.
Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.
Time deposits accounts are interest-bearing deposit acoounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).
The table above shows essential details of selected time deposit products offered to retail customers by the banks in Spain: currency, interest rate per annum and deposit term. The time deposit accounts terms vary from 1 month to 10 years (120 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.
Average Deposit Rates. In February 2019, average annual deposit interest rate in local currency (Euro) of new contracts with fixed term up to 1 year between credit institutions and retail customers (households) was 0.04 %.
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. Time deposit 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 time deposit accounts by non-residents of Spain is not taxed. Interest gained on time deposit accounts by residents of Spain is taxed at 21.00% rate. When the interest is paid, this tax is automatically withhold from the time deposit account by the bank.