Compare Fixed-Rate Deposits in Spain

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19 live offers compared from 15 providers, from 2.50% bruto. Updated daily.

What is a fixed deposit in Spain?

A fixed deposit (depósito a plazo fijo) is a savings product where you lock a lump sum with a bank for an agreed term - typically 3, 6, 12 or 24 months - in exchange for a guaranteed interest rate. Your capital is returned in full at maturity plus interest, and the rate does not change during the term. It is one of the simplest low-risk ways to earn a return on cash you will not need in the short run, and it appeals to savers who want certainty rather than the ups and downs of investing.

How the Spanish market works

Deposit rates in Spain track the European Central Bank's policy rate. When the ECB raised rates sharply, Spanish and pan-European banks competed hard for savings; as rates eased, headline offers softened. Domestic high-street banks have traditionally paid less than digital challengers and deposit marketplaces, which is why platforms like Raisin (which pools offers from banks across the EU) and digital-first names have reshaped the market. Interest is usually paid at maturity, though some products pay monthly or quarterly, and a few banks reserve their best rates for new money or new customers.

Benefits of a fixed deposit

Guaranteed return — the rate is fixed at the outset, so you know your interest before you commit.

Capital protection — deposits are covered by the Spanish deposit guarantee scheme up to 100,000 euros per person per bank.

No market risk — unlike funds or shares, your balance cannot fall, making deposits suitable for an emergency buffer or a known future expense.

Discipline — locking the money for a term removes the temptation to dip into savings before you reach your goal.

How to choose

Match the term to your goal — longer terms usually pay more but tie your money up; check the penalty for early withdrawal.

Compare the TAE, not the TIN — the Tasa Anual Equivalente reflects the true annualised yield including how often interest is paid.

Check the guarantee jurisdiction — on EU marketplaces the 100,000-euro cover is provided by the deposit-taking bank's home country scheme, not Spain's.

Watch new-money conditions — top rates often apply only to funds not already held at that bank.

Leading providers in Spain

BBVA, CaixaBank, Bankinter and Kutxabank offer deposits through their branch networks. ING España is a long-standing digital option, Banco Mediolanum and Globalcaja compete on rate, and Raisin acts as a marketplace routing your money to higher-paying banks elsewhere in the EU under the passporting rules. Comparing domestic banks against EU marketplaces often reveals a meaningful gap in the rate on offer.

What it costs

There is normally no fee to open a fixed deposit. In 2026 gross rates on our panel run from around 2.5% up to roughly 4.5% TAE, with the highest figures usually on shorter promotional terms or from newer entrants. Remember that interest is taxable: it is added to your base del ahorro in the IRPF, taxed from 19% on the first 6,000 euros of savings income up to 28% at the top band, so the net return is lower than the headline rate.

Protections and regulation

Deposits at Spanish-licensed banks are covered by the Fondo de Garantía de Depósitos de Entidades de Crédito (FGD) up to 100,000 euros per depositor per institution. Banks operating from another EU state are covered by their own national scheme at the same 100,000-euro level. Banco de España supervises deposit-takers and the marketplaces must disclose which bank actually holds your money.

Common questions

Can I take my money out early? — Usually yes, but you forfeit some or all of the accrued interest depending on the contract.

Is the interest taxed automatically? — Spanish banks apply a withholding on interest, which you reconcile in your annual IRPF return.

Is a deposit safer than a savings account? — Both carry the same 100,000-euro guarantee; a deposit locks the rate, a savings account keeps money accessible.

Can I spread money across banks? — Yes; the 100,000-euro guarantee applies per bank, so splitting large sums raises your total protection.

Fixed-Rate Deposits in Spain — FAQ