ING has raised the stakes in the savings market with a four month deposit at 3 percent TAE, open to both new and existing clients. No minimum amount is required, and up to 50,000 euros can be deposited. Early withdrawal is penalty free but reduces the interest rate.
ING has introduced a four month deposit at 3 percent TAE, aiming to attract savers with a rate that stands out from most Spanish banks. The offer is open until 30 September 2026 and lets clients deposit up to 50,000 euros, with no minimum required. If you keep the full amount in for the entire term, the gross return can reach about 500 euros, though the exact figure depends on the nominal rate and the contract dates. Merca2.es and Finect both note that this is one of the most competitive offers currently available in Spain, as banks raise rates to win over savers.
This new rate is higher than ING’s previous campaign, which offered 2.5 percent TAE for the same period and only for new savings. Now, both new and existing clients can get the improved rate, as long as they have or open a Cuenta NÓMINA, Cuenta NoCuenta, or Cuenta NARANJA. ING’s move to broaden eligibility and increase returns comes as more Spanish households move money out of current accounts in search of better yields, a trend reported by Talent24h and recent market data. ABC points out that ING is one of the most active banks in the current "war of rates" among Spanish banks in September 2026.
"ING's four month deposit at 3% TAE is available to both new and existing clients, provided they have or open one of the eligible accounts, with no minimum deposit required and a maximum of 50,000 euros."
— Merca2.es
The 3 percent TAE headline rate can be misleading. TAE is an annual rate meant for comparison, not for direct calculation over four months. If you applied 3 percent to 50,000 euros for a year, you would get 1,500 euros, but over four months, the gross gain is closer to 500 euros. For smaller deposits, the math is straightforward: 10,000 euros would earn about 100 euros, and 25,000 euros would bring in roughly 250 euros before taxes. ING does not publish the exact nominal rate or a sample calculation for the four month term, so clients need to check the pre-contract documents for precise numbers. Finect highlights that the TAE is standardized for annual comparison, so actual returns for four months are proportionally lower.
One notable feature is that there are no penalties for early withdrawal. Clients can take out their money at any time without a fee. However, any amount withdrawn before the end of the term only earns 0.87 percent TAE, not the promotional 3 percent. This flexibility means you can access your funds, but the return drops sharply if you don’t keep the money in for the full four months. Partial withdrawals also get the lower rate, so it pays to plan ahead. Rankia notes that this early withdrawal policy is more flexible than many other products, but the reduced rate is a key detail to consider.
The type of account you use matters. The Cuenta NÓMINA has no maintenance fees if you deposit a salary, pension, or unemployment benefit, or if you receive at least 700 euros per month. Otherwise, ING charges three euros per month for account maintenance, which can eat into your returns, especially if you open an account just for this deposit.
"As of early September 2026, ING has approximately 4.7 million clients in Spain, and its latest deposit campaign is seen as a direct response to heightened competition among banks for retail savings. The current offer is notably more inclusive than previous ING promotions, which were limited to new savings and lower rates."
— Finect
ING’s website also advertises a three month “Depósito Bienvenida” at 3 percent TAE, but that is only for new clients. The four month product, announced on 31 August, is separate and has its own terms. As of early September, ING had not published a dedicated factsheet for the new deposit, so clients should check all the details—duration, TIN, TAE, account requirements, and early withdrawal terms—before committing money.
ING BANK NV is covered by the Dutch deposit guarantee scheme, which protects up to 100,000 euros per depositor. This limit applies to your total balance with ING, not just the amount in the promotional deposit. If you have several accounts, consider your total exposure when assessing risk.
By raising its deposit rate and removing the minimum, ING is targeting savers who want short term returns without tying up large sums for years. The offer is competitive, but the real benefit depends on meeting account conditions and avoiding early withdrawals. As always, the fine print and your own situation will determine whether this is a good deal or just another offer in Spain’s crowded savings market.
