Banco Sabadell makes the most of its flagship product and extends the interest on the paid account until February

Banco Sabadell squeezes its star product to attract customers. The Catalan entity has extended the promotion of its paid account, which offers a return of 2.53% the first year for new online registrations, until February 4. The deadline to take advantage of the offer expired on January 7. However, they have established an extension after the last December raised the remuneration by half a point.

The conditions of the current offer for new hires give the possibility of obtaining up to 1,250 euros for a maximum balance of 50,000 euros, plus another additional 400 euros for direct debiting the payroll and activating Bizum. The doubt lies in whether the offer will continue from Februaryat which point it will cut the interest on existing accounts.

A few weeks ago the bank sent a letter to its clients to inform them that it would reduce the APR from 2 to 1%, which suggests that it could be the last recruitment campaign in which you offer these incentives. The product has served to underpin the Catalan group’s customer growth in recent quarters, marked by record profits.

Within the framework of its 2025-2027 strategic plan, Banco Sabadell includes an increase in business volume that allows you to achieve increases moderate market share in Spain. Objective for which it will be necessary to accelerate the pace of customer acquisition. In this sense, it has been established as a goal that seven out of every ten new users come from digital channels in such a way that by the end of 2027 the customer base is 30% higher than that recorded in 2024.

Sabadell recognizes that registrations produced between 2022 and 2024 They represent a relevant focus of growth and generated more than 12% of the commercial margin during the last year of the previous plan. During the presentation of the results corresponding to the third quarter, the CEO of Sabadell, César González-Buenocommented that until September they had only reached 75% of the fundraising target in a few months marked by BBVA’s takeover bid, which ultimately did not go ahead.

This process took almost a year and a half, plunging both entities into uncertainty. With data from the consulting firm Inmarkthe report corresponding to 2025 states that the Catalan bank channels a market share of 5.8% – one tenth less year-on-year – as the main bank, appearing as the sixth largest entity in Spain in this sense, the seventh if total penetration is taken into account, with 10.6%.

Compete with Bankinter and Openbank

Sabadell’s paid account is one of the most attractive on the market right now. It so happens that Bankinter has raised the remuneration of its digital account from 1.5% to 2.15%, also for new clients who hire it before February 9. The commission-free digital account offers different returns depending on the balance entered. Specifically, for balances of up to 24,999.9 euros, the interest will be 1.85% APR, a figure that rises to 2% if it ranges between 25,000 and 49,999.9 euros, and 2.15% if it is allocated between 50,000 and 100,000 euros.

However, it remains below the paid account of Openbankwhich with 2.27% is positioned as another of the most profitable at the moment. Specifically, the digital bank of Santander, raises in its welcome account the aforementioned 2.27% APR for six months with a maximum remuneration of one million euros. Interest is paid monthly and there is no commission of any kind.