Openbank Interest-bearing Account
Earn interest on your savings at 2.02% 1 and 2% annual NIR for a whole year if you activate Bizum.
Use the code OPEN400 by 17/04/26
Plus, now you can get €200 when you bring over your direct debits.
Bring at least 2 direct debits over to Openbank and we'll give you €20 cashback a month for 10 months.
Open an account with the code OPEN400 by 17/04/26 (inclusive).
- For one year: 2.02% APR1 and 2% annual NIR on your savings if you activate Bizum. Plus, there's no limit!
- You'll receive the interest earned each month in your Openbank Interest-bearing Account.
- You can withdraw all or some of your money at any time, along with the interest earned.
- After the first year: your account will automatically be converted into the Openbank Savings Account, and the interest rates in force at the time will be applied.
- Current account at 0% APR2, 0% annual NIR, when you set up a direct deposit for your salary.
- Free debit card for the main holder.
- Fee-free cash withdrawals at over 6,999 Banco Santander ATMs in Spain.
- Fee-free domestic and international transfers in available currencies
- With the Openbank app, you can manage everything no matter where you are: turn your card on and off, finance purchases or invest.
- Call us anytime - you'll speak to real people who know your case and are ready to help.
- One of the top-rated over-the-phone customer support service in Spain3
- With the backing and security of the Santander Group.
See the Pre-contractual Information and Fee Information Document for the Openbank Interest-bearing Account.
The safe option for your savings
With the backing and solvency of the Santander Group
Want to learn more about the Openbank Interest-bearing Account
What is the Openbank Interest-bearing Account?
What is the difference between an interest-bearing account and a current account?
Is a savings account the same as an interest-bearing account?
Do I have to have my salary paid into my interest-bearing account to be eligible to earn interest?
When do you receive the interest?
Is my money always available?
What is the difference between an interest-bearing account and a deposit?
What is the Openbank Interest-bearing Account?
It is an account with no maintenance, administration or closing fees, where your savings generate interest that you receive monthly. You can open it using the code OPEN400 when you become a customer. You can open it with as little as €1 and earn interest on your entire balance, with no limits, for 12 months. After that, it will automatically become an Openbank Savings Account, where your money will earn interest at the rate applicable to that account at the time.
What's more, you can withdraw all or part of your money at any time, including the interest you have earned up to that point, by means of an external transfer or transfer between your accounts at Openbank.
For further information, please see the Interest-bearing Account Fee Information Document.
What is the difference between an interest-bearing account and a current account?
An interest-bearing account generates interest on the balance you deposit, while a current account does not usually offer interest. Interest-bearing accounts are designed for saving, and current accounts are designed for day-to-day banking: setting up direct debits, linking cards and making payments.
Is a savings account the same as an interest-bearing account?
Savings accounts and interest-bearing accounts are not exactly the same, although they are very similar. Both generate interest, but an interest-bearing account gives you the returns of a savings account with the features of a current account, meaning you can link your cards, set up direct debits and make transfers, for example. A savings account, on the other hand, is more geared towards generating interest without you having to do any day-to-day banking.
Do I have to have my salary paid into my interest-bearing account to be eligible to earn interest?
No, to earn interest on your savings, it is not necessary to have your salary paid directly into your interest-bearing account.
When do you receive the interest?
You will receive the interest earned on a monthly basis in your interest-bearing account.
Is my money always available?
Yes, at Openbank, you can access both your money and the interest earned whenever you want with any of our accounts.
What is the difference between an interest-bearing account and a deposit?
The main difference is that with an interest-bearing account, you can access your money and the interest earned whenever you want, whereas a fixed-term deposit generates interest at the end of the agreed term. Therefore, if you withdraw your money from a deposit early, you will receive a lower percentage of interest.
1 Interest corresponding to the first year. Monthly interest settlement. REPRESENTATIVE EXAMPLE of interest with a constant balance of €10,000 for one year at 2.02% APR and 2% annual NIR. Gross annual interest of €200.
2 REPRESENTATIVE EXAMPLE of interest with a constant balance of €10,000 for the first year at 0% annual NIR (0% APR). Gross annual interest of €0.
3 Source: Benchmarking NPS Stiga, second half of 2025.