ING has introduced a four-month deposit at 3 percent TAE to attract savers with a rate that stands out from those offered by most Spanish banks. The offer is open until 30 September 2026 and lets clients deposit up to 50,000 euros, with no minimum required. Keeping the full amount in for the entire term could yield about 500 euros gross, though the exact figure depends on the nominal rate and contract dates. Merca2.es and Finect describe it as one of Spain’s most competitive offers currently available, as banks raise rates to attract savers.
The new rate is higher than ING’s previous campaign, which offered 2.5 percent TAE for the same period and was limited to new savings. Both new and existing clients can now get the improved rate if they have or open a Cuenta NÓMINA. The rate is also available to those with a Cuenta NoCuenta or Cuenta NARANJA. As of early September 2026, ING had approximately 4.7 million clients in Spain. Finect describes the latest campaign as a response to heightened competition among banks for retail savings. It is more inclusive than previous ING promotions, which were limited to new savings and offered lower rates. The bank’s move to broaden eligibility and increase returns comes as more Spanish households shift 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 among the most active banks in Spain’s current "war of rates" in September 2026.
The 3 percent TAE headline rate can be misleading. TAE is an annual rate intended for comparison, not for direct calculation over four months. Applying 3 percent to 50,000 euros for a year would yield 1,500 euros, but over four months the gross gain is closer to 500 euros. For smaller deposits, 10,000 euros would earn about 100 euros and 25,000 euros 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 figures. Finect notes that TAE is standardized for annual comparison, making actual returns over four months proportionally lower.
There are no penalties for early withdrawal: clients can take out their money at any time without a fee. But, any amount withdrawn before the end of the term earns only 0.87 percent TAE, not the promotional 3 percent. Clients can access their funds, but the return drops sharply if they do not keep the money in for the full four months. Partial withdrawals also receive 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 remains an impressive consideration.
The type of account also matters. The Cuenta NÓMINA has no maintenance fees if you deposit a salary or pension. The exemption also applies if you deposit an unemployment benefit or receive at least 700 euros per month. Otherwise, ING charges three euros per month for account maintenance, which can eat into returns, especially if you open an account just for this deposit.
ING’s website also advertises a three-month “Depósito Bienvenida” at 3 percent TAE, but that offer 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, including duration and TIN. They should also check the 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. The limit applies to a client’s total balance with ING, not just the amount in the promotional deposit. Those with several accounts should consider their 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’s benefits depend on meeting the account conditions and avoiding early withdrawals. The fine print and each saver’s circumstances will determine whether it is a good deal in Spain’s crowded savings market.
