The fixed-term deposit market in Spain stabilizes in June 2026: the ECB keeps the deposit rate at 2.00%, suggesting that bank deposit rates are unlikely to rise in the short term. If you want to secure a good rate, this month is a good time to act.
June 2026 Deposit Rankings
Best deposits at Spanish banks
| Bank | Term | APR | Minimum | Rating |
|---|---|---|---|---|
| EVO Bank | 12 months | 2.85% | €1 | No conditions, FGD Spain |
| EVO Bank | 3 months | 2.00% | €1 | No conditions, Spanish Deposit Guarantee Fund |
| Pibank | 12 months | 2.12% | €1 | Online bank, FGD Spain |
Best European deposits via Raisin
| Bank | Country | Term | APR | Guarantee |
|---|---|---|---|---|
| Mano Bank | Lithuania | 12 months | 2.94% | Lithuanian DGS €100,000 |
| BluOr Bank | Latvia | 12 months | 2.81% | FGD Latvia €100,000 |
| SME Bank | Latvia | 12 months | 2.89% | Latvian Deposit Guarantee Fund €100,000 |
| Fjord Bank | Norway | 12 months | 2.55% | FGD Norway |
| Younited Credit | France | 12 months | 2.47% | FGD France €100,000 |
| Klarna Bank | Sweden | 12 months | 2.46% | FGD Sweden €100,000 |
EVO Banco or Raisin for the best rate?
The difference between EVO Bank (2.85%) and Raisin (2.94%) is 0.09 percentage points. On €10,000 for one year:
- EVO Bank: €228 net (2.85% × €10,000 × 0.81 withholding tax)
- Mano Bank Raisin: €238 net (2.94% × €10,000 × 0.81)
- Difference: €10 per year
For most people, EVO Banco makes more sense due to the convenience of being a Spanish bank supervised by the Bank of Spain. Raisin is a better option for those managing larger amounts or who want to diversify their banking risk geographically.
Market signals: Will deposit rates rise?
With the ECB at 2.00% and no signs of immediate further cuts:
- Deposits are unlikely to offer more than 3% in the short term
- If the ECB raises rates (in response to a resurgence of inflation), deposit rates would improve
- If the ECB cuts rates further, deposit rates will drop to 1.5–2% within 6–12 months
Conclusion: Anyone looking to lock in a 2.85% rate has a reasonable window now, before potential further cuts.
Alternatives to the June 2026 deposit
- More liquidity: Revolut 2.27% or Openbank 2.02% with no fixed term
- No automatic renewal: 12-month Treasury bills ~2.46%
- Higher returns with T+1 liquidity: MyInvestor Money Market Fund 2.75%