Updated: November 4, 2026

With the ECB likely to hold interest rates steady through the end of the year, banks and fintechs are competing to attract new customers with more competitive savings offers. Kutxabank is the latest contender, offering 3.10% TAE for the first year on balances of up to €100,000, with no salary deposit or spending requirements. Customers who switch their salary or pension can also qualify for a separate cash bonus.

Brokers are adding to the competition for savers’ cash. Trading 212 offers new customers 4.20% TAE for the first four months, with interest paid daily, before the rate drops to 2.80% TAE. Meanwhile, Ibercaja’s Cuenta Vamos continues to offer one of the highest headline rates, paying up to 5.10% TAE in the first year on balances of up to €20,000 for customers who meet its salary and other requirements.

Savings rates and promotional offers can change frequently, so check the latest terms and conditions before opening an account.

Here are the best savings accounts in Spain right now, ranked by yield, requirements and overall flexibility.

Top savings account contenders in Spain for 2026

Best salary-linked savings accounts in Spain

Salary accounts (“cuentas nómina”) typically offer the highest interest rates, but require you to deposit your monthly salary and meet certain activity requirements.

Ibercaja cuenta vamos

Ibercaja offers one of the highest savings account rates in Spain (5.10% TAE) during the first year. The interest applies to balances up to €20,000, although customers must deposit income and meet usage requirements.

Bankinter salary account

Bankinter’s salary account remains one of the most competitive offers in Spain, providing 5% interest during the first year and 2% in the second year. The interest applies to balances up to €10,000, making it ideal for optimizing a portion of your savings while keeping funds easily accessible.

Best savings accounts in Spain without salary requirements

For savers seeking flexibility, several cuentas remuneradas sin nómina offer competitive returns without requiring salary deposits. But fresh competition is ramping up from fintech brokers such as Trade Republic, MyInvestor and Scalable Capital, offering attractive returns on deposits and uninvested money as they seek to pull customers away from traditional banks.

Kutxabank

Kutxabank is offering new digital customers 3.10% TAE on balances of up to €100,000 for the first year, with no salary deposit, direct debits or card spending requirements. Interest is paid monthly, and the rate drops to 0.75% TAE in the second year. Customers who transfer their salary or pension may also qualify for a cash bonus of up to €600 gross, subject to additional conditions. The offer is available until November 22, 2026.

Trading 212

Brokers are leading the race for competitive cash yields in Spain, and Trading 212 is offering one of the most attractive promotions: 4.20% TAE for the first four months, with interest paid daily so your earnings can start compounding immediately. After the promotional period, the rate drops to a still-competitive 2.80% TAE (variable rate).

There is no minimum deposit or balance cap. However, Trading 212 is an investment broker rather than a bank. Cash can be held with partner banks, where eligible deposits are covered by the EU deposit guarantee scheme, while money held in money market funds is not covered by deposit insurance. Even with that caveat, Trading 212 is a compelling option for savers comfortable holding cash with a broker.

Revolut

Revolut is offering new customers 3.51% TAE on up to €25,000 for the first four months. Interest is paid daily, but after the first month, customers need to make three card payments of at least €5 every 30 days to keep the promotional rate. After the offer ends, the Standard-plan rate is currently 1.15% TAE.

B100 health account

This account offers up to 3.15% TAE, making it a top savings account in Spain without a traditional nómina. However, the conditions have become stricter: savers must meet health goals tracked via the app and make at least 8 card purchases totaling €200 or more per month to avoid dropping to a lower 2.60% TAE rate.

Trade Republic cash interest account

Trade Republic offers a headline-grabbing 3.04% interest on uninvested cash with no balance cap, establishing it as the clear market leader for zero-payroll savings, however, they have updated their limit on remunerated cash to €50,000. Crucially, they also issue Spanish IBANs. This means a standard 19% tax is automatically withheld and reported directly to the Spanish tax authority (Agencia Tributaria), eliminating manual cross-border declarations or the need to file complex asset forms like Model 720 for your liquid cash.

Bankinter digital account

Bankinter has upped its game by raising its non-salary tier to 3.00% TAE up to a massive €100,000 limit. It features zero commissions, zero mandatory card uses, and zero conditions, serving as a reliable domestic option for idle cash.

Openbank

Openbank sweetened its new-customer rate to 3.25% TAE for the first year, with no maximum balance and no salary requirement. Customers simply need to activate Bizum and transfer their savings to the account. There’s also a potential €200 bonus for bringing two direct debits, making Openbank one of the more competitive options for savers with larger balances. Note, interest rate offer changes frequently.

Scalable overnight account

Scalable Capital raised its rate to 2.63% TAE, one of the highest no-condition savings rates available in Spain, with unlimited balance, monthly payouts, and no minimum deposit. Funds are covered under the European deposit guarantee scheme.

How to choose the best savings account in Spain

Before opening a savings account, it’s important to consider several key factors.

Interest rate (AER / TAE)

The Annual Equivalent Rate (AER) reflects the true annual return, including compounding and fees.

Maximum eligible balance

Many banks only apply promotional interest to a limited amount, often €10,000 or €50,000.

Account requirements

Higher rates usually require additional conditions, such as:

• direct deposit of salary

• multiple direct debits

• minimum card usage

  
  

Promotional period

Many accounts only offer high interest rates for 6 to 12 months, after which the rate may drop significantly.

Tips for optimizing your savings in 2026

• Bank hopping is key: The highest TAEs in Spain are promotional. To maximize returns, consider switching your cuenta nómina every 1–2 years.

• Segregate your funds: Use a high-yield salary account for the first €20,000 (to capture ~5% TAE), and a flexible savings account (~3% TAE) for additional funds.

• Watch for conditions: Always check for any commitment (compromiso de permanencia) requirement to maintain the promotional interest rates. High-cash-bonus accounts may require you to keep your salary there for 12, 24, or even 48 months and maintain a minimum balance to avoid a penalty.

By combining a high-interest cuenta nómina with a flexible savings account without requirements, you can secure the best savings rates in Spain in 2026 while maintaining liquidity and minimizing restrictions.