Openbank launches new Welcome Savings Account: 1% for 12 months up to €100,000

Openbank, the 100% digital bank of the Santander Group, is launching its new Welcome Savings Account, which offers 1% interest on accumulated savings up to €100,000 over 12 months.

This account for new customers does not require a salary to be paid in and is fee-free (no maintenance, administration and/or cancellation fees).

After the first twelve months, the Welcome Savings Account will become a standard Openbank Savings Account, which recently quadrupled its interest up to 0.20% APR for customers who pay their salary into this account, and 0.05% for customers who don’t.

New customers can also arrange to pay their salary into the Welcome Savings Account, in which case the applicable interest is 5% NIR (2.66% APR) on up to €5,000 for first 6 months.

This new offer can be combined with the offer recently extended until 12 December, which rewards all new and existing customers who arrange for their salary of €1,000 euros or over to be paid into their account for at least one year (€600 for customers aged between 18 and 31 years) with a €150 welcome bonus.

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