Protecion discovered the ideal solution for unforeseen

Overdraft Protection

The ideal solution for the unexpected

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Calculate how much will it cost you
Peace of mind

Additional money to handle the unexpected.

No fees or charges

No arrangement or application fees.

Pay only when you use it

You only pay interest on the money you need and for the days you have used it.

Instant1 and paperless

If your salary is paid in directly or you have savings, funds or investments at Openbank.

Instant money to cover the unexpected1

  • You can apply for between €300 and €12,000 to be added to your account balance.

  • No arrangement or application fees.

  • Easy access to extra money. The amount approved will depend on your salary, savings and investments at Openbank.

Only pay for what you use

  • Only pay interest on the amount drawn and for the days you have used it. If you don’t use it in the end, it won't cost you anything! For example, if you use €500 for 10 days, you will only pay €1.06 for the month.

  • Annual NIR of 7.72% (8.00% APR2) will be charged at the time of the monthly settlement of your account, provided you have used it.

Easy and convenient

  • Apply for it online and it will be available immediately1.

  • It will be available for one year and renews automatically, provided that your conditions do not change.

1 No contract will be signed. The line of credit is subject to analysis and approval by Openbank, provided that the following requirements are met: To be the holder of an Open Current Account or an Open Payroll Account and that at least one of the following two requirements is met:
- Salary is paid directly into an Openbank account; and/or
- Have positions in deposits, funds or securities at Openbank.

2 The annual nominal interest rate (NIR) is 7.72% (8.00% APR). We will settle it in your current account each month at the same time as the monthly account settlement. For example, if you use €500 over 10 days to pay for your car insurance, when your account is settled, you will only pay €1.06 for the interests; therefore, the total amount of the loan would be €501.06.

onboarding

Open an account in just three steps, no matter where you are

1

Fill out your details

To open an account, we need to know a few things about you. Fill out the online form and choose your passcode. Have your DNI or NIE at hand.

2

Verify your identity

From the comfort of your own home. By video identification or via transfer.

3

Sign electronically

We will send you an SMS text with a security code to access your contract so that you can sign it online.

Open account

Would you like to learn more about Overdraft Protection?

What is Overdraft Protection?

It's a loan for unexpected events that allows you to cover any unforeseen expenses. Easily accessed: all you need to do is be the holder of an Open Current Account or an Open Payroll Account and meet at least one of the following two requirements:

- Have your salary paid directly into Openbank; and/or - Hold positions in deposits, funds or securities at Openbank.

Once approved, this additional balance will be available in your account so you can tackle unexpected circumstances with complete peace of mind. What's more, if you don't use it, it won't cost you anything. You only pay for the amount you use and the days you use it

How much money can you request?

From €300 up to a maximum of €12,000*.

*The limit of the credit will be set once your ability to repay is assessed by Openbank's Risk Department. 

What are the advantages of this credit?

  • We will instantly lend you money for unexpected events.
  • No application or arrangement costs or fees.
  • Simple and paperless process.
  • You only pay interest on the money you use and for the days you used it.
  • 0 € in fees if you don't use the money.
  • All you need to do is be the holder of an Open Current Account or Open Payroll Account and meet at least one of the following two requirements: (i) have your salary paid directly into Openbank; and/or (ii) hold positions in deposits, funds or securities at Openbank.

What is the interest rate?

If you don't use it, it won't cost you anything. You only pay for the amount drawn and for the days you use it.

The annual nominal interest rate (NIR) is 7.72%1 (8.00% APR2). We will charge the interest to your current account each month on the same date as the monthly settlement of your account.

For example, if you use €500 for 10 days to pay your car insurance, when your account is settled, you will only pay €1.07; therefore the total amount of the loan would be €501.07. 

(1) Provided that you meet the following requirements: To be the holder of an Open Current Account or Open Payroll Account and meet at least one of the following two requirements: (i) your salary is paid directly into Openbank; and/or (ii) you hold positions in deposits, funds or securities at Openbank.

(2) Annual NIR of 7.72%1 (8.00% APR2) with monthly settlement.

How can you request your Overdraft Protection?

It's as easy as clicking here, and it will be available immediately if your salary is paid in directly or have deposits, savings accounts, funds or securities at Openbank.

You can also apply for this credit instantly* through our app using your mobile phone or tablet.

If you would prefer to speak to someone, you can call us on  +34 91 177 33 37 

*If you meet the necessary requirements: To be the holder of an Open Current Account or Open Payroll Account and meet at least one of the following two requirements: (i) have your salary paid directly into Openbank; and/or (ii) hold positions in deposits, funds or securities at Openbank.

Do you need more information?

We make it simple. Call us on +34 91 177 33 37 and our team of professionals will be glad to help.

What is Overdraft Protection?

It's a loan for unexpected events that allows you to cover any unforeseen expenses. Easily accessed: all you need to do is be the holder of an Open Current Account or an Open Payroll Account and meet at least one of the following two requirements:

- Have your salary paid directly into Openbank; and/or - Hold positions in deposits, funds or securities at Openbank.

Once approved, this additional balance will be available in your account so you can tackle unexpected circumstances with complete peace of mind. What's more, if you don't use it, it won't cost you anything. You only pay for the amount you use and the days you use it

How much money can you request?

From €300 up to a maximum of €12,000*.

*The limit of the credit will be set once your ability to repay is assessed by Openbank's Risk Department. 

What are the advantages of this credit?

  • We will instantly lend you money for unexpected events.
  • No application or arrangement costs or fees.
  • Simple and paperless process.
  • You only pay interest on the money you use and for the days you used it.
  • 0 € in fees if you don't use the money.
  • All you need to do is be the holder of an Open Current Account or Open Payroll Account and meet at least one of the following two requirements: (i) have your salary paid directly into Openbank; and/or (ii) hold positions in deposits, funds or securities at Openbank.

What is the interest rate?

If you don't use it, it won't cost you anything. You only pay for the amount drawn and for the days you use it.

The annual nominal interest rate (NIR) is 7.72%1 (8.00% APR2). We will charge the interest to your current account each month on the same date as the monthly settlement of your account.

For example, if you use €500 for 10 days to pay your car insurance, when your account is settled, you will only pay €1.07; therefore the total amount of the loan would be €501.07. 

(1) Provided that you meet the following requirements: To be the holder of an Open Current Account or Open Payroll Account and meet at least one of the following two requirements: (i) your salary is paid directly into Openbank; and/or (ii) you hold positions in deposits, funds or securities at Openbank.

(2) Annual NIR of 7.72%1 (8.00% APR2) with monthly settlement.

How can you request your Overdraft Protection?

It's as easy as clicking here, and it will be available immediately if your salary is paid in directly or have deposits, savings accounts, funds or securities at Openbank.

You can also apply for this credit instantly* through our app using your mobile phone or tablet.

If you would prefer to speak to someone, you can call us on  +34 91 177 33 37 

*If you meet the necessary requirements: To be the holder of an Open Current Account or Open Payroll Account and meet at least one of the following two requirements: (i) have your salary paid directly into Openbank; and/or (ii) hold positions in deposits, funds or securities at Openbank.

Do you need more information?

We make it simple. Call us on +34 91 177 33 37 and our team of professionals will be glad to help.

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