Make your money grow with the rates

Savings Account

A Savings Account that is NOT a bank deposit... It's much better!
It is a portfolio made up of the best money market funds or ETFs.

The new inbestMe Savings Account
from 1.05% to 3.40% APY

Do not wait for your bank to raise interest rates and take instant advantage of rate hikes.

The APY (Annual Percentage Yield) of your Savings Account is variable and is linked to the variation of the official rates of the central banks (European Central Bank for the Euro and the FED for the dollar).

  • From €1,000. No strings attached, no limits, no terms
  • Floating interest rate linked to the interbank rate
  • Accumulate your interest and take advantage of compound interest
  • Differ the taxation of your savings
  • Fully online

Savings Account EUR

From €1.000 and above

1.05% APY

Variable
  • Benefit from rate hikes.
  • Interest can be accrued.
  • Benefit from compound interest.
  • No limit, no permanence.
  • Defer your taxation until withdrawal.
  • Transferable funds portfolio.

Savings Account USD

From €/$5.000 and above

3.40% APY

Variable
  • Benefit from rate hikes.
  • Accumulate interest and take advantage of compound interest.
  • No limit, no permanence.
  • Defer taxation until withdrawal.
  • Portfolio of currency ETFs.
  • Accept multiple currencies (free exchange rate).

Advantages of the inbestMe Savings Account compared to a bank deposit

  • Benefit from current and future interest rate rises in Europe and the US, automatically.
  • No maximum limits, i.e. it is as valid for €1,000 as for €1,000,000.
  • No limitations on outflows. The money can be withdrawn at any time (in approximately one week).
  • As it does not have a specific minimum term like a deposit, there are no penalties when withdrawing the money if the term is not met.
  • The accrued interest accumulates in the capital, benefiting from compound interest.
  • It differs in the taxation of your savings. As it is an accumulation account, no tax is paid until it is withdrawn.
  • For ETF accounts, accumulation ETFs (which do not distribute dividends, but accumulate them) are used, also benefiting from tax deferral as long as they are not settled. These are not transferable.

Savings Accounts FAQs

Is the interest rate fixed or variable??

The interest rate is variable.

The interest rate of your portfolio (the variable APY that we publish) varies depending on several parameters, the most important being the official interest rate set by the central banks (ECB for the EURO, and the FED for the dollar).

Note: ECB stands for the European Central Bank, FED for the Federal Reserve in the USA which are the ones that determine different official rates that condition all the interest rates in their respective currencies, Euro for the ECB, dollar for the FED.

The investment committee has designed a portfolio of funds or ETFs to maintain your capital and at the same time optimise the interest you get for it. This portfolio is monitored to get the most for your money and to automatically pass on the evolution of the official rates to your money. We will notify you when rates change.

What is the term of my portfolio?

Your portfolio does not have a fixed term, the term is set flexibly according to your needs.
Your savings portfolio is NOT a deposit, it is better in the sense that it does not have a term. This is because it is totally flexible. It does not have a maturity. You can add money when it suits you, or withdraw it when you need it. All the money in your account will accumulate the advertised APY with no strings attached.

What happens if I need my money?

You can withdraw your money at any time. From the moment you decide to withdraw it, you can have it in 3/5 working days.

Can I systematically save?

Yes, that's right. As with any inbestMe account, you can set up recurring contributions that will be invested automatically, taking advantage of compound interest.

What ownership can the Savings Accounts have?

In the case of the EUR portfolios, they are available for individual, joint and corporate clients. They are also available for minors or "Kids Accounts". 

 

 

What are the fees for your Savings Accounts?

The APY that we advertise is net of the commissions that the portfolio has.

The inbestMe Savings Account, being a securities account, has certain costs. These costs have been adjusted to a minimum so that the net interest you get is the maximum possible.

There are 2 explicit costs that are seen and charged to the portfolio:

  • 0.06% to 0.11% of the inbestMe management fee.
  • 0.11% custody (GVC Gaesco for fund portfolios) or trading (Interactive Brokers for ETF portfolios).
    There is 1 implicit cost that is not visible, which is the TER of the funds or ETFs which is on average 0.13%. TER stands for Total Expense Ratio.

As said, you don't have to worry too much about these costs, as the published TER already has them subtracted.

What taxes will I pay?

Like any other savings or investment portfolio, your portfolio is subject to taxation in your country and your personal situation.

The APR (variable) will accrue daily. Unlike a deposit where each time interest is accrued, for example monthly or annually, the corresponding tax is normally withheld, in the inbestMe savings portfolio you will accrue interest without deducting any tax.

In the case of the fund portfolio, as these are transferable, you can also transfer all or part of them to another fund portfolio, for example in inbestMe, thus deferring the taxation of your savings/investments as much as possible.

You will only be taxed at the moment of liquidation of the portfolio, where you will pay the capital gains tax applicable in your country. In Spain for example this is 19% in most cases.

What guarantees does my portfolio have?

Like any portfolio, your portfolio is subject to market developments.

Like any portfolio of securities, your portfolio is subject to the evolution of the markets.

However, the inbestMe Savings Portfolio has been designed to maintain your capital and earn interest linked to official central bank rates.

The inbestMe Savings Portfolio, like any other securities' portfolio, is covered by the Fogain up to €100,000 in the event that inbestMe enters into insolvency proceedings or is declared insolvent by the CNMV (Comisión Nacional del Mercado de Valores).

Your Savings Portfolio, unlike a bank deposit, does not have the coverage of the deposit guarantee fund (up to €100,000).

In addition, your money is invested outside the inbestMe balance sheet. Your money is invested in the best money market funds from large and renowned fund managers and spread across hundreds of assets.

How do I transfer my investment funds to inbestMe?

FAQs Savings Accounts

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