The savings profile of Spaniards is conservative. 56% of investors expect reasonable profits and are not willing to accept losses. This definition implies that the products they invest in have low risk and almost certain returns. Time deposits meet these two requirements, and although large banks currently refuse to pay them fees, The Spaniards will continue to use this product.

This is one of the conclusions of the VIII Savings Barometer of the Invercaud Observatory. According to the survey, 27% of Spaniards will soon take a deposit or, if you already have one, your investment will increase. Despite this, the majority response when asked if they would be willing to take a deposit with an interest rate of 2% rather than a fund was that they would consult their organization (42%) and 27% would not take it. out. .

This difference is due, as explained by Eustaquio Arrimadas, a member of the Inverco Observatory, to the fact that there are currently products offering higher returns and that 2% does not beat inflation, but the Spaniards expect that interest on deposits will be higher. in the next few months. Thus, they will become the most contractual financial products in the near future.

In this regard, the President of the Observatory, Angel Martinez-Aldama, noted that the favorable trend for this product will increase as banks begin to pay out deposits with the same intensity as in the rest of the European market.

Deposits are already the product through which Spaniards channel their savings. 87% of citizens have money in these products, despite the fact that at the moment time deposits pay an average of 2.33%. But for now it also includes demand deposits and current accounts, which are the dominant and “very conservative” asset, but instrumental, meaning everyone needs it for everyday life. Moreover, deposits, along with pension plans, are the products they know best.

However, savers, the majority of whom (up to 53%) have suffered from the blow of inflation, are also choosing other, more promising products with the intention of beating inflation and, therefore, 40% of investors allocate their capital to investment funds, which is eleven points more than in 2015.while the conservative profile in particular saw interest in the product increase to 44%, up from 33% in 2021.

The conservative profile and predilection for deposits are also reflected in the savings motive. 40% of Spaniards do this to have an emergency fund. It has established itself as a leading cause and has increased by 10 points in four years. These products (demand deposits and savings accounts) have the advantage that they are liquid, meaning the investor can count on money from the very first moment. In case of fixed deposits, you need to wait until the end of this period to make a profit.

At the moment, it is striking that the number of savers who invest to make money grow without a specific goal has increased. That is, thirty%which is nine points more than in 2021, Save so you don’t lose purchasing power and get the best value for money. At this stage, active savers, those who seek high returns and realize they may suffer significant losses in the near future, are those who save the most to make their money grow (46%). Only 8% of investors are dynamic.

Halfway between deposits and funds were pension plans, a product in which 54% of respondents participated, which, according to Observatory member Eva Valero, reflects the consolidation of both pension plans and funds such as “alternatives for directing long-term savings.”

Exactly, Long-term savings are becoming an increasingly important parameter in the minds of savers. as it is close to 50%, suggesting an increase of twenty points over the last decade.

For its part, fixed income was the product to which 15% of savers allocated their purchases, which in overall calculations puts it in sixth position, although it has doubled since the last figures, thanks, among other things, to short-term debt on Spanish treasuries bills reached 4%, which led to long queues at the Bank of Spain.