Savings accounts with the best interest rates in Colombia as of March 31
Interest rates on savings accounts in Colombia have changed significantly in recent months. Competition between traditional banks and neobanks has increased profitability for users, creating new opportunities for those looking to grow their money.
TL;DR
- Interest rates on savings accounts in Colombia have changed significantly due to competition between traditional banks and neobanks.
- Banco Pichincha offers the highest interest rate at 11% effective annual (EA).
- Ban100 (9.72% EA) and Banco Finandina (9.01% EA) follow.
- Nubank (8.28% EA, with planned increase to 9.5% in 'cajitas') and Lulo Bank (7.89% EA) are also competitive.
- Traditional banks like Bancolombia (0.07% EA), Banco de Bogotá (0.22% EA), and BBVA (0.33% EA) offer considerably lower rates.
- Bancamía is an exception among traditional banks, offering 6.13% EA.
- Neobanks generally offer higher rates due to more efficient digital operations and lower overhead costs compared to traditional banks.