Calculate your mortgage repayments
If you've already started an application, click here.
Variable-rate Mortgage
Meeting discount conditions1:
Nominal interest rate from: 12-month Euribor +0.60%1.
From 1.60% NIR1 for the first year.
Variable APR: 4.62%2.
Without meeting discount conditions1:
Nominal interest rate from: 12-month Euribor +1.40%1.
2.40% NIR1 for the first year
Variable APR: 5.00%2.
Fixed-rate Mortgage
Meeting discount conditions1:
From 2.79% NIR1 (3.34% APR2).
Without meeting discount conditions1:
From 3.59% NIR1 (3.65% APR2).
The applicable interest rate varies depending on the term and amount you choose.
Mixed-rate Mortgage
Meeting discount conditions1:
From 2.47% NIR1 for the first 10 years.
and from 12-month Euribor + 0.55%1 for the remainder of the term.
Variable APR: 3.21%2.
Without meeting discount conditions1:
From 3,27% NIR1 for the first 10 years.
and from 12-month Euribor + 1.35%1 for the remainder of the term.
Variable APR: 3.51%2.
The applicable interest rate varies depending on the term and amount you choose.
With a personal mortgage advisor
To make it even easier for you, you will be assigned a personal mortgage advisor who will assist you throughout the process until you purchase your home. You can apply for and track the progress of your mortgage online.
If you finance more than €150,000, the applicable interest rate is reduced by 0.10% (in variable-rate and fixed-rate mortgage during the mortgage term). This reduction will be applied to the interest rate resulting from the amount, term and option you choose, regardless of whether discount conditions are met.
Applicable fee for full prepayment:
- For variable-rate mortgages, or during variable-rate tranches of any other mortgage: 0.25% of the remaining mortgage balance repaid early (full prepayment) during the first three years of the mortgage term. However, this fee will not be charged if the early repayment (full) is made between the deed execution date and 31 December 2023. After that date, you must pay Openbank the percentage indicated here, if applicable, and in accordance with the terms and conditions of your mortgage loan deed.
- For fixed-rate mortgages, or fixed-rate tranches of any other mortgage:
2% of the remaining mortgage balance repaid early (full prepayment) during the first 10 years of the mortgage term; or,
1.5% when the full prepayment is made during the remainder of the mortgage term.
The amount charged for full prepayment will not exceed financial loss3.
Want to learn more about the mortgage calculator?
How do you calculate your mortgage?
When buying a home it is important to know which options are available to you as a customer. Our online mortgage calculator allows you to:
- Apply for your online mortgage in just a few minutes, no matter where you are.
- Consult the amount of your monthly repayment and the fees and expenses associated with your home purchase.
How does our mortgage calculator work?
Simply choose from the available options according to the house you would like to purchase:
- Primary home or second home.
- If it is new or resale home.
- The Autonomous Region where it is located.
Next, you will need to enter:
- The cost of the property. Bear in mind that if it is new, you should enter the amount withou VAT in the field "how much does the home cost tax-free?".
- The amount you would like to borrow.
- How long you would like to repay it over.
Lastly, click on “Calculate” and the tool will simulate your online mortgage with the different options available (with a fixed, variable or mixed-rate mortgage) so that you can decide which type best meets your needs.
What type of Open Mortgage do you prefer?
- Open Fixed-Rate Mortgage: The monthly mortgage payment will remain the same over the term of the loan, regardless of variations in the Euribor.
- Open Variable-Rate Mortgage: The monthly mortgage payment may go up or down every six months, depending on variations in the 12-month Euribor.
- Open Mixed-Rate Mortgage: The monthly mortgage payment will remain fixed for the first 10 years. From then on, it will be updated according to the current 12-month Euribor rate at the time.
1 Interest rates subject to the following discount conditions: (i) Primary home: a salary, pension or any other type of periodic state benefit must be paid directly into Openbank. Second home and/or self-employed: a salary, pension or any other type of periodic state benefit received by transfer must be set up with Openbank, or a deposit must be made from another bank into Openbank each month. For a single holder, the amount of any of the above items, both for a primary home and for a second home and/or self-employed, must be equal to or greater than €900 per month. If there are two or more holders, the minimum amount is €1,800 per month (ii) the property/properties subject to the mortgage must be insured with the Home Insurance marketed by Openbank, S.A., Linked Bancassurance Operator. (iii) The mortgage holder(s) must be covered by the life insurance sold with their mortgage through Open Bank, S.A. Linked Bancassurance Operator. This life insurance policy must be current, arranged by direct deposit through an Openbank account held by the mortgage holders, and must insure 100% of the capital financed by one or between all of the holders. (iv) The mortgage holder(s) must sign up for electricity supplies for the mortgaged property(ies) with Repsol, S.A and continue to pay for this service by direct debit through their Openbank account using the link provided by Openbank at all times. (v) The mortgage holder(s) must sign up for and maintain a Repsol S.A. gas supply service for the mortgaged property(ies), and continue to pay for this service by direct debit through their Openbank account using the link provided by Openbank at all times. (vi) Each mortgage holder must take out or hold a credit card issued by Openbank in their own name, and this card must be linked to an Openbank account held by them. They must also use this card at least once a month within each monthly card settlement period. Each credit card will be understood to have been used when any of the following transactions or services are performed: ATM cash withdrawal, retail purchases and transfers from the card credit limit to the associated account. Money transfers to the card are not included in this definition; and (vii) The mortgage holder(s) must sign up for/contribute to/or make external transfers to Investment Funds or Pension Plans marketed through Openbank for a net annual amount of at least €600, or pay in accumulated contributions totalling a net amount of at least €600 for each current year of the mortgage. Net subscriptions/net contributions/net external transfers are understood to be the difference between incoming subscriptions/contributions/external transfers and outgoing redemptions/external transfers.
When you do not meet any of the above discount conditions, the applicable interest rate will vary: 0.30% will be added to the discounted annual nominal interest if you do not meet discount condition (i); 0.10% will be added if you do not meet discount condition (ii); 0.10% will be added if you do not meet discount condition (iii); 0.05% will be added if you do not meet discount condition (iv); 0.05% will be added if you do not meet discount condition (v); 0.10% if you do not meet the discount conditions, (vi) 0.10% if you do not meet the discount conditions, (vii) and 0.80% will be be added if you do not meet any of the above discount conditions.
All holders must have their tax residence in Spain and be the holder of a current account in Openbank from which repayments of the mortgage loan will be made. No arrangement or maintenance fees. Mortgage subject to Openbank's approval.
The interest rate will be fixed during the initial period, both for the Open Variable-Rate Mortgage (first year) and the Mixed-Rate Mortgage (first 10 years). After the initial period, a resulting variable interest rate (12-month Euribor plus spread), with semi-annual review for the Open Variable-Rate Mortgage and annual review for the Open Mixed-Rate Mortgage, will be applied. For the Open Fixed-Rate Mortgage, a fixed interest rate will be applied for the entire term of the loan.
The applicable interest rate will vary depending on the amount (in the Open Variable-rate, Fixed-rate or Mixed-rate Mortgage) and the term you choose (in the Open Mixed-rate and Fixed-rate Mortgages) as well as compliance with conditions.
During the period in which the variable interest rate is applicable, if the sum of the benchmark interest rate (12-month Euribor) plus the differential applied in each case to the mortgage loan were to be negative, the mortgage loan would not involve interest payments in favour of the borrowers, although during that period of time the borrowers will not be required to pay interest.
Interest rates offered for mortgage loans intended for house purchases.
During the periods of application of the variable interest rate, the variable APR is provided for information purposes and is calculated on the theoretical assumption that the benchmark interest rate over the variable period, (in the variable mortgage) the 12-month Euribor, remains constant at the last known rate; to which the relevant spread is added, given that the variable interest rate for the variable period is higher than the initial fixed rate at the time this information is provided. This variable APR has been calculated on the assumption that the benchmarks do not vary; therefore, this variable APR will be updated in line with the interest rate revisions.
2 The APR and Variable APR have been calculated on the assumption that the mortgage agreement will be in effect for the agreed period of time, that there is no partial or full prepayment made, and that Openbank and the applicant will fulfil their obligations under the terms and conditions stipulated in the contract. Furthermore, the following has been considered in order to meet the discount conditions: (i) home insurance marketed by Openbank, S.A., Linked Bancassurance Operator, based on an estimated annual premium of €153.79 on a 100 m2 property located in Madrid, with a total value of €87,800.00 and a contents value of €22,000.00 (the premium for the first year was taken as a reference. Insurance premiums corresponding to the following annuities will be updated on an annual basis, as set forth in the individual terms of the applicable policy). Taking out the insurance is optional; however, policyholders will be eligible for more beneficial conditions.
The Variable APR indicated includes the valuation amount. The estimated charges for this item are €314.60 (including VAT, and any applicable IGIC - Impuesto General Indirecto Canario [General Indirect Tax in the Canary Islands] or IPSI - Impuesto sobre la Producción, los Servicios y la Importación [Tax on Production, Services and Imports in Ceuta and Melilla]).
3 The financial loss suffered by Openbank, if any, shall be calculated, in proportion with the reimbursed capital, by a negative difference between the outstanding capital at the time of the early redemption and the present market value of the loan.
The present market value will be calculated as the sum of the current value of the outstanding fees up to the next interest rate review and the current value of the outstanding capital at the time of the review had it not been cancelled early. The update interest rate will be the market rate that applies to the remaining time period until the next review. The applicable index for calculating market value will be the Interest Rate Swap (IRS) at 2, 3, 4, 5, 7, 10, 15, 20, and 30 year periods that will be published by the Bank of Spain and which a spread will be added. This spread will be fixed as the existing difference, at the time the transaction is signed, between the transaction interest rate and the IRS at the next closest installment to that time, until the next interest rate review date or until its maturity date.
The reference interest rate of the above that is closest to the outstanding period of the loan term from the early termination until the next interest rate review date or until its maturity date shall be applied.
The amount, if any, will be paid to Openbank when the reimbursement is formalised.
If you decide to pay the loan off early, please contact us in order to determine the exact level of compensation at that time.
