Kutxabank offers 3.10% AER in the first year on its interest-bearing account

Two years of interest, at different rates

Kutxabank has increased the return on its Interest-Bearing Account to 3.10% AER for the first 12 months for new digital customers. In the second year, the advertised rate is 0.75% AER. The promotion is available to customers who activate the account through the bank’s app between October 5 and November 22, 2026.

Interest is calculated on an average balance of up to €100,000, and is paid monthly. According to the published terms, customers can access their money at any time without penalty. The account has no maintenance fees and may include an associated Visa Debit card with no issuance or maintenance fee. Kutxabank also advertises fee-free euro transfers and deposits of domestic cheques through the channels and subject to the conditions it specifies.

The offer is reserved for new digital customers who do not have an active commercial relationship with Kutxabank or an ongoing financing application. Therefore, simply opening the account is not enough: customers must meet the eligibility requirements and activate it during the promotional period.

Returns depend on the balance and term

As a guide, the bank estimates that a constant average balance of €10,000 would generate €305.68 gross during the first year and €74.74 gross during the second. These amounts are before tax and depend on maintaining that average balance; the actual return will vary if the deposited amount changes. After the second year, the account becomes a standard savings account, according to information from Kutxabank.

The first-year return should not be taken to mean that the rate is guaranteed indefinitely: the offer sets different conditions for each of the two years and the available materials do not specify what rate would apply after that period, other than the change to a standard account.

Comparisons depend on the conditions

Coverage by Expansión, Finect and El Confidencial agrees on the main terms of the offer, but their assessments of its position compared with other accounts are not identical. Expansión describes it as the highest-paying offer among those considered at the time. Finect, by contrast, notes that some accounts exceed 3.10% AER, although they may have balance limits, shorter promotional periods or additional requirements.

These comparisons do not describe a universal outcome: they depend on which products are included and on factors such as how long the rate applies, the maximum balance that earns interest and the eligibility conditions. Finect, for example, distinguishes between accounts that do not require salary payments and accounts that require customers to pay in their income or meet other requirements. The AER figure, considered on its own, is not enough to determine which account offers a higher return for a given balance or period.

The salary-payment promotion is separate

Kutxabank also advertises a separate promotion for customers who pay in a salary or pension for the first time. The bank says it may add up to €600 gross, subject to its own requirements and conditions, including minimum-stay commitments. This incentive is not part of the account’s interest and should not automatically be added to the interest calculation: the amount depends on meeting the specific conditions of the salary-payment promotion, which is valid until December 31, 2026, according to information from the bank.

Overall, the offer combines promotional interest for two years with access to the balance and associated services. To assess its scope, it is worth distinguishing the first-year rate from the second-year rate, taking the €100,000 limit into account, and checking the account-opening conditions and those of any additional incentive.