Banks in Bolivia and Spain launch new fixed-term deposit products

Banking institutions in Bolivia and Spain have introduced new fixed-term deposit products to attract savers.

In Bolivia, Banco Ecofuturo launched the ‘SuperDPF’, offering interest rates of up to 9.10% for in-person openings and up to 11% for digital openings via the Econet app. The product requires a minimum investment of Bs 500 and has a term of 370 days. General Manager Alejandro Bustillos noted the product is designed for clients seeking clear conditions and defined rates to protect their savings.

In Spain, EBN Banco released its ‘Nuevo Ahorro’ deposit, which offers a 3.10% TAE annual return for a 12-month term. The product requires a minimum investment of 5,000 euros and a maximum of 400,000 euros, with no additional requirements for the client. This move follows increased competition in the Spanish market, with other entities like Pibank, MyInvestor, and Banca March also adjusting their deposit rates.