6-Month Open Deposit at 2.78%1 APR and 2.76% annual NIR
With your salary or monthly income2 (min.€600).
Until 15/12/2024
Interest from 1st day and 1st euro (4)
- Earn interest at 1.77 % APR1 and 1.76% annual NIR over 6 months on the savings you bring to Openbank.
- Plus, if your salary, pension, unemployment benefit or recurring income of at least €6002 is paid into your account, the interest increases to 2.78% APR1 and 2.76% annual NIR.
For new funds
- If you're a customer, the money you pay into your deposit must increase the total balance you held at Openbank on 30 September 2024.
- If you're not a customer yet, you can deposit as much as you like.
- You can make a transfer from another bank, deposit cash, etc.
Your money is always available
- Close the fixed-term deposit whenever you want1, and earn lower interest.
- If you withdraw your savings before the end of the 6-month term, you'll earn 0.20% APR1 and annual NIR for as long as you held your balance.
See the Pre-contractual Information for the 6-Month Open Deposit.
3-Month Open Deposit
Earn interest on your savings over the short term: 2.55% annual NIR (2.58% APR3) over 3 months.
The safe option for your savings
With the backing and solvency of the Santander Group
Want to learn more about the 6-Month Open Deposit?
What is the 6-Month Open Deposit?
How much interest do you receive?
Are there any costs?
How can you open the 6-Month Open Deposit?
What are "new funds"?
How is the increase in balance calculated?
How do I know when my balance has been increased?
Need more information?
What is the 6-Month Open Deposit?
It is a fixed-term deposit that you can open from €1, with funds you bring over to Openbank. Your balance earns interest that will be paid at the end of the 6-month term. Plus, you will earn higher interest if your salary, pension, unemployment benefit or any other type of income -of at least €600- is paid into Openbank for at least 10 months of the fixed term.
How much interest do you receive?
You will earn 2.78% APR1 and 2.76% annual NIR over 6 months if you set up a direct deposit for your monthly salary, pension, unemployment benefit or other type of income of at least €600 a month. If not, you'll earn interest at 1.77% APR1 and 1.76% annual NIR.
Plus, you can close the deposit before the end of the fixed term without incurring any fees. We'll return all your savings plus an extra 0.20% APR1 and annual NIR for however long you held your balance.
Are there any costs?
The 6-Month Open Deposit has no early withdrawal fee1. You can close it before the end of the fixed term and withdraw your savings along with the interest earned. Bear in mind that the interest will be lower if you fail to meet the conditions.
How can you open the 6-Month Open Deposit?
You must open a fee-free Open Current Account, which comes with an Open Debit Card that is free for the main holder. One account, one deposit and one card to save and manage your money.
Open your deposit online or, if you would prefer to speak to someone, call us on 91 177 33 37 or 900 36 53 66 if you're not a customer yet.
Check out the other products and services available on our website.
What are "new funds"?
"New funds" are understood as income from other banks or cash deposits that increase the total balance that a customer has in Openbank. In the case of deposits, this increase will be the amount for which you can open the deposit.
The total balance is the sum of the balance of current accounts, savings accounts and deposits.
How is the increase in balance calculated?
It's simple. Taking a specific date as a reference, it calculates how much the total balance of your current account(s), savings account(s) and deposits has increased with respect to that date.
This reference date is updated periodically and is the same for all customers who want to open a deposit.
Please note that investment products are not included in the calculation of this balance.
For example, Marta currently has €8,000 in her Openbank accounts and wants to open a deposit.
If the reference date is 30/09/2024, we will calculate the difference between the balance she had on that day and the balance she has today.
Current balance: €8,000
Balance on 30/09/24: €5,000
Balance increase with new funds: €3,000
Marta could open the deposit today for €3,000. If she wants a higher amount, she has two options:
Make a transfer or cash deposit from another bank, or arrange for her salary to be paid directly into the account…
For example, if Marta sends a transfer for €2,000 from another bank, her total balance would increase:
Current balance: €10,000
Balance on 30/09/24: €5,000
Balance increase: €5.000
Now Marta could open the deposit for €5,000.
As long as the balance is increased by at least €1, Marta can issue a deferred order to open the deposit, which will take effect when the money is received.
For example, if Marta has increased her balance by €3,000, but wants to open the deposit for €10,000, she can issue a deferred order for €10,000 and has 45 days to deposit the remaining €7,000 into her current account. When the €7,000 are received, the deposit will be automatically opened the following business day:
Current balance: €8,000
Balance on 30/09/24: €5,000
Balance increase: €3,000
Order to open deposit: €10,000 (pending receipt of €7,000).
If Marta does not receive the €7,000 in the next 45 days, the deposit will not be opened and her order will be cancelled.
How do I know when my balance has been increased?
If you make a cash deposit or send a transfer, the funds will be available to open the deposit the following business day.
I.e., if you receive funds on a Tuesday at 6 p.m., you will be able to open the deposit with that money on the Wednesday.
And if, for example, the transfer is issued on Tuesday at 6 p.m., and arrives on Thursday at 12 p.m., you will be able to open the deposit with that money from Friday onwards.
In any case, throughout the contractual process you can check the amount available to open the deposit.
Need more information?
We make it simple. Call us on 91 177 33 10 or 900 22 32 42 and our team of professionals will be glad to help. If you're not a customer yet, please call us on 91 177 33 37 or 900 36 53 66.
Check out other products and services on our website.
1 Representative example of interest for the 6-Month Open Deposit with a balance of €25,000:
(i) if all conditions are met, 2.78% APR and 2.76% annual NIR will be applied, and the gross interest would be €345;
(ii) if a direct deposit for your salary, pension, unemployment benefit or other type of monthly income of at least €600 is not set up for at least 4 months, 1.77% APR and 1.76% annual NIR will be applied, and the gross interest would be €220;
(iii) in both cases, if you fail to comply with the 6-month term and only hold the balance for 3 months, 0.20% APR and annual NIR will be applied, and the gross interest would be €12.50.
2 Salary, pension, unemployment benefit or other type of monthly income of at least €600 for at least 4 months.
3 For cash deposits, the maximum guaranteed amount by Spain's Deposit Guarantee Fund for Credit Institutions is €100,000 per depositor in each credit institution.
4 The interest will be paid into the Openbank current account or payroll account in the name of the holder at maturity (at the end of the fixed term).