Spanish banks cut fixed-term deposit interest rates

Spanish banks Openbank, Banca March, and Deutsche Bank have reduced interest rates on their fixed-term deposit accounts following the European Central Bank's recent interest rate cut. Savers will now receive less attractive returns. Openbank cut interest rates on its 3 and 6-month deposits, requiring a monthly salary deposit for higher yields. Banca March lowered returns and increased minimum deposit amounts. Deutsche Bank also reduced rates across its 3, 6, and 12-month deposit offerings. These changes reflect a broader trend of declining interest rates on fixed-term deposits, impacting the returns available to savers. The adjustments come as banks adapt to the evolving economic landscape.