Openbank obtains €4 billion in deposits in the last year

Openbank, the 100% digital bank of the Santander Group, has established itself as one of the leading digital banks by deposit volume in Europe, having obtained €4 billion during the last 12 months.

The bank achieved growth of over €900 million in these products in the first five months of this year alone, making this the best start to the year in its history.

Since the beginning of 2023, Openbank has retained its place as one of the most competitive banks for saving product rates in the various European markets in which it is present (Spain, Portugal, Germany and the Netherlands).

The bank currently offers two fixed-term deposits in Spain: one at 3.07% APR for a six-month term and the other at 3.05% APR for a 12-month term. These products require customers to have a direct debit set up for their salary or deposit at least €600 per month, and increase their total account balance as of 30 April 2024. Both products have no maximum interest limit and the interest is 0.20% APR in the case of early cancellation.

These data points are also accompanied by a double-digit increase in customers related to payroll and direct debits who choose Openbank for their daily transaction needs. Both the savings products and boost in transaction types have enabled the bank to exceed €18 billion on the balance sheet.

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