Spanish and Portuguese banks boost payroll bonuses and deposit yields

In July 2026, several Portuguese banks – Cajamar, ABANCA and imagin – are offering cash incentives for customers who domicile their salary. Amounts range from €250 to €750, with the highest offered by Cajamar. Bonuses are paid gross, subject to tax, and require high‑salary payrolls and multi‑year commitment (often 48 months). Some banks also provide coupons that can be exchanged for electronics.

In Spain, bank savings products listed on the Raisin platform are seeing deposit rates above 3 % TAE for terms from one to five years. Haitong Bank and Achmea Bank each offer 3.20 % TAE for 36‑ or 48‑month deposits, while Fjord Bank, Nordax and others have raised rates across shorter terms. Deposits are protected up to €100 000 per account by the national guarantee scheme, and the Raisin service routes funds to the selected European banks without opening fees.