ECB Rate (€STR)
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Live ECB €STR Overnight Rate
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EU Inflation (HICP)
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Eurozone HICP YoY — Live
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Local Inflation
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Spain YoY — Live
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Tax Rate
19.0%
Capital Gains Tax (up to €6k)
On interest / savings income
🏆 -2.06% — Bono del Estado 10Y📊 0 of 26 products beat inflation
Mixed-source data: Rates and estimates are labeled individually. Older bank offers are excluded from current leaders. Methodology.
European Fixed Income Analysis — After-Tax Real Returns vs. Inflation
Bank rates last reviewed: 2026-07-02. Market-linked rates update daily from official ECB data.
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| Institution / Product | Gross Yield | After Tax | Real Yield ↓ | Details |
|---|---|---|---|---|
| Bd | 3.63% | 2.94% | -2.06% | Benchmark10-year Spanish government bond, long-term benchmark |
| PS | 3.79% | 2.87% | -2.13% | Model estimateTER: 0.25%, Passive AAA/AA EUR CLO Index, passive management |
| SS | 3.74% | 2.83% | -2.17% | Model estimateTER: 0.25%, actively managed AAA EUR CLOs, Blackstone Credit sub-advised |
| IE | 3.69% | 2.79% | -2.21% | Model estimateTER: 0.25%, AAA-rated EUR CLOs, floating rate |
| IE | 3.69% | 2.79% | -2.21% | Model estimateTER: 0.25%, AAA-rated EUR CLOs, accumulating, ISIN: IE000Y2JPPS4 |
| JH | 3.69% | 2.79% | -2.21% | Model estimateTER: 0.25%, AAA-rated EUR CLOs, tracked via JCL0 |
| UE | 3.69% | 2.76% | -2.24% | Model estimateTER: 0.28%, AAA EUR CLO tranches, semi-annual distribution |
| i€ | 3.64% | 2.75% | -2.25% | Model estimateTER: 0.25%, actively managed AAA CLOs |
| Bd | 3.18% | 2.58% | -2.42% | Model estimate2-year Spanish government bond, fixed rate |
| Ld | 2.95% | 2.39% | -2.61% | Model estimateZero-coupon 12-month Spanish Treasury bill, benchmark asset |
| Ld | 2.85% | 2.31% | -2.69% | Model estimateZero-coupon 6-month Spanish Treasury bill, sold at discount |
| AP | 2.88% | 2.29% | -2.71% | Proxy estimateTER: 0.05%, YTM ~2.45%, ultra-short eurozone government bonds |
| VE | 2.88% | 2.28% | -2.72% | Proxy estimateTER: 0.07%, ultra-low cost, passive eurozone sovereign 0-1Y |
| i€ | 2.88% | 2.26% | -2.74% | Proxy estimateTER: 0.09%, YTM ~2.45%, eurozone sovereign debt 0-1Y duration |
| i€ | 2.44% | 1.90% | -3.10% | Proxy estimateTER: 0.09%, distributing, very short duration bonds |
| XE | 2.44% | 1.90% | -3.10% | Proxy estimateTER: 0.10%, tracks €STR, accumulating, liquid daily |
| AS | 2.44% | 1.90% | -3.10% | Proxy estimateTER: 0.10%, accumulating, liquid daily |
| AP | 2.44% | 1.90% | -3.10% | Proxy estimateTER: 0.10%, distributing, T+1 liquidity |
| HG | 2.44% | 1.90% | -3.10% | Proxy estimateTER: 0.10%, AAA-rated MMF, institutional quality |
| JE | 2.44% | 1.89% | -3.11% | Proxy estimateTER: 0.11%, government MMF, daily liquidity |
| IE | 2.44% | 1.88% | -3.12% | Proxy estimateTER: 0.12%, accumulating, daily liquidity |
| AE | 2.44% | 1.88% | -3.12% | Proxy estimateTER: 0.12%, T+1 liquidity |
| HE | 2.44% | 1.87% | -3.13% | Proxy estimateTER: 0.13%, T+1 liquidity, institutional |
| BI | 2.44% | 1.85% | -3.15% | Proxy estimateTER: 0.15%, institutional money market fund |
| GS | 2.44% | 1.85% | -3.15% | Proxy estimateTER: 0.15%, prime MMF, T+1 liquidity, AAA-rated |
| TR | 2.25% | 1.82% | -3.18% | BenchmarkInstant access, pays ECB deposit rate (2.25% since Jun 2026), €100k deposit guarantee per partner bank |
| MS | 4.00% | 3.24% | -1.76% | Needs review · Manual review · Verified 2026-07-021-month term, €1k-€5k only, requires Premium Plan (€7.99/mo), 4.00% TAE |
| BB | 4.00% | 3.24% | -1.76% | Needs review · Manual review · Verified 2026-07-023.93% TIN (4.00% TAE) for 1 month, new clients, Portuguese Deposit Guarantee Fund, April 2026 |
| BB | 3.25% | 2.63% | -2.37% | Needs review · Manual review · Verified 2026-07-023.22% TIN (3.25% TAE) for 6 months, Portuguese Deposit Guarantee Fund, April 2026 |
| DB | 3.00% | 2.43% | -2.57% | Needs review · Manual review · Verified 2026-07-0212-month term, €10k-€300k, bonuses for nómina + card |
| BB | 3.00% | 2.43% | -2.57% | Needs review · Manual review · Verified 2026-07-022.97% TIN (3.00% TAE) for 3 months, Portuguese Deposit Guarantee Fund, April 2026 |
| EB | 2.85% | 2.31% | -2.69% | Needs review · Manual review · Verified 2026-07-0212-month term, €10k min, requires investment product |
| OO | 2.78% | 2.25% | -2.75% | Needs review · Manual review · Verified 2026-07-024-month term, salary €900+ required, else 1.76% |
| XI | 2.90% | 2.25% | -2.75% | Needs review · Manual reviewTER: 0.12%, YTM ~2.90%, eurozone corporate bonds 0-1Y |
| RB | 2.63% | 2.13% | -2.87% | Needs review · Manual review · Verified 2026-07-0236-month term, interests at maturity |
| VB | 2.55% | 2.07% | -2.93% | Needs review · Manual review · Verified 2026-07-0212-month term deposit via Raisin |
| SC | 2.50% | 2.02% | -2.98% | Needs review · Manual review · Verified 2026-07-02Variable 2.50% for all customers since Mar 2026, no plan required |
| T2 | 2.40% | 1.94% | -3.06% | Needs review · Manual review · Verified 2026-07-02UK fintech, investor protection ~€20k, instant access |
| BM | 2.30% | 1.86% | -3.14% | Needs review · Manual review · Verified 2026-07-0212-month term, €30k-€300k, online via AVANTIO |
| BE | 2.26% | 1.83% | -3.17% | Needs review · Manual review · Verified 2026-07-02Weekly compound, higher balances get 2.26%, base 1.51% |
| MD | 2.25% | 1.82% | -3.18% | Needs review · Manual review · Verified 2026-07-023-month term, requires Premium Plan (€7.99/mo), up to 2.25% TAE |
| CD | 2.25% | 1.82% | -3.18% | Needs review · Manual review · Verified 2026-07-0224-month term, €1-€250k, quarterly interest, BNP Paribas group |
| BS | 2.20% | 1.78% | -3.22% | Needs review · Manual review · Verified 2026-07-0212-month term deposit, €10k minimum |
| LE | 2.45% | 1.78% | -3.22% | Needs review · Manual reviewTER: 0.25%, inflation-linked bonds, hedges inflation risk |
| MR | 2.10% | 1.70% | -3.30% | Needs review · Manual review · Verified 2026-07-02Requires Premium Plan (€7.99/mo), up to €70k, instant access |
| CD | 2.10% | 1.70% | -3.30% | Needs review · Manual review · Verified 2026-07-0212-month term, €1-€250k, quarterly interest, BNP Paribas group |
| MS | 2.05% | 1.66% | -3.34% | Needs review · Manual review · Verified 2026-07-021-month term, €10k-€100k, no conditions, Q2 2026: 2.05% TAE |
| NS | 2.00% | 1.62% | -3.38% | Needs review · Manual review · Verified 2026-07-02Metal plan only (€16.90/mo), instant access |
| NM | 2.00% | 1.62% | -3.38% | Needs review · Manual review · Verified 2026-07-02Requires Metal plan (€16.90/mo), instant access, ECB-linked |
| LC | 1.91% | 1.55% | -3.45% | Needs review · Manual review · Verified 2026-07-02Estonian broker — investor protection €20k, NOT deposit guarantee; Vault holds money market funds |
| RS | 1.85% | 1.50% | -3.50% | Needs review · Manual review · Verified 2026-07-02Premium/Metal plans, instant access, up to €100k |
| OC | 1.80% | 1.46% | -3.54% | Needs review · Manual review · Verified 2026-07-02Santander subsidiary, salary required, instant access |
| BC | 1.75% | 1.42% | -3.58% | Needs review · Manual review · Verified 2026-07-02Instant access, up to €50k, monthly interest, neobank |
| BE | 1.56% | 1.26% | -3.74% | Needs review · Manual review · Verified 2026-07-02Instant access, Dutch deposit guarantee, monthly interest |
No product in this list currently keeps pace with inflation after tax. The smallest shortfall is Bono del Estado 10Y (-2.06%).
⚠ Disclaimer: This dashboard is for informational purposes only and does not constitute financial advice. Tax rates shown are simplified approximations. Actual tax treatment varies by individual circumstances, income brackets, and product structures. Always consult with a qualified tax advisor. Past performance does not guarantee future results. Data sources: ECB, Eurostat, bank websites.