How does the Banco de España's fixed-term deposit simulator work?

The bank fixed-term deposits are still the product most in demand by savers, referring to a form of savings with a medium-term vision of the future, in search of remuneration based on the interest they generate. 

The profitability The interest earned is obtained at the end of the fixed period or when the conditions required by the institution have been fulfilled. The return on the money deposited will vary depending on the amount withdrawn and the time period. 

The European Central Bank (ECB) has seen an increase in interest rates during the year 2023, as financial institutions are gradually raising the interest rate on some of their bank deposits, exceeding 4% APR, This ultimately translates into higher interest rates on savers' bank deposits.  

Banco de España (ECB) simulator

Through the tranche fixed-term deposit simulator Banking Customer Portal - Simulators (bde.es) created by the Banco de España (ECB) it is possible to calculate the interest and the APR of the deposit independently of the remuneration brackets. 

As a priority, you enter the amount of capital you wish to invest in the deposit, the duration, the interest rate and the charges if the deposit involves charges. 

120,000, for a period of 12 months with a yield of 4.20% APR, we obtain a yield of 4.20% APR. 420 per month and a total of 5040 euros of interest generated.