OPENBANK- Savings Account
| 1/6 | This number is indicative of the risk of the product, being 1/6 indicative on lower risk and 6/6 of higher risk. | Entity attached to the Spanish Deposit Guarantee Fund. The fund guarantees deposits on money up to 100.000€ per owner and entity. |
MAIN FEATURES:
- Savings Account
- No fees /commissions
- No fixed term deposit
- Interest Rate (EAR): 0.02%
- Deposit: Min. 1€.
- Open your Openbank Savings Account from €1 and earn returns on up to €1,000,000.
- Deposit how much you want, when you want and for as long you want.
- You can withdraw all or a portion of your money and interest at any time.
- No minimum contract: there is no cancellation penalty.
- If conditions are met: If you set up a direct deposit of your salary or pension of at least €600/month directly deposited, or arrange direct debits for monthly bills, you earn interest at an annual APR and NIR of 0.20%.
- If conditions are not met: you earn interest at an annual APR and NIR of 0.05% for any amount.
- The interest is paid into your Openbank Savings Account each month.
- Online Management
- Customer Service in English
BASICS
Account type | Savings Account – Personal |
Interest Rate (AER) | 0.20% if conditions are met. 0.05% if not. (see conditions below) |
Customer Service in English | Yes |
Fees | No |
Currency | Euro |
Online Management | Yes |
- If conditions are met: If you set up a direct deposit of your salary or pension of at least €600/month directly deposited, or arrange direct debits for monthly bills, you earn interest at an annual APR and NIR of 0.20%.
- If conditions are not met: you earn interest at an annual APR and NIR of 0.05% for any amount.
RATES AND FEES
Maintenance fee | Free |
Management fee | Free |
REQUIREMENTS
Contract method | Online, phone or offices |
Min¡mum age | 18 |
Required documentation | NIE/Passport |
Commitments | You must meet at least ONE of this criteria:
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Openbank is an online bank, headquartered in Madrid, Spain. Since its foundation in 1995, it has been a subsidiary of Grupo Santander. They claim to be Europe’s largest digital bank and work to be one of the best in the world.
Backed by the Santander Group: €1,5 Trillion in total assets in 2019.
Openbank offers a 24×7 service to all its customers. This allows them to be in permanent contact with the branch, by telephone, email or chat.
In addition, it allows them to deposit or withdraw cash, commission-free, at more than 4,500 ATMs in the Santander network in Spain.
Open Wealth has been created as its new investment platform. With this platform customers can invest, in real time from a computer or mobile phone, in more than twenty-five markets available to them through the professional trading tool.
The bank also offers a family plan, Open Young, which has a prepaid card for use by children who can even request payment from their own app.
It also has a function that allows customers to activate or deactivate their cards whenever they want, from anywhere, or to defer payments from their mobile.
In addition, Open Mortgage customers can obtain a mortgage with a nominal interest rate of Euribor + 0.99%.
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