Welcome Savings Account with Payroll
Get up to €250 in the first year when you bring your salary over to Openbank.
If you're a new customer, use code BIENVENIDANOMINA
First 12 months:
- Set up a direct deposit for your salary or pension of at least €900/month: 5.12 % TAE1 and 5% annual NIR up to €5,000 and 0.20% annual NIR for amounts that exceed €5,000. If more than €5,000, the applicable APR will be calculated. For example, for €10,000, 2.63% APR2 would apply to the entire balance (5% annual NIR up to €5,000 and 0.20% NIR to the remaining balance).
- Without setting up a direct deposit for your salary or pension: 0.05% APR1 and annual NIR.
After the first 12 months:
Your Welcome Savings Account with Payroll will become an Openbank Savings Account with the following conditions:
- With your salary or pension of at least €900/month: 0.20% APR3 and annual NIR.
- Without your salary or pension: 0.05% APR3 and annual NIR.
You will receive the interest in your savings account each month.
1 Interest for the first year. Monthly interest settlement.
Representative example with a constant balance of €5,000 in the first year:
- If conditions are met i.e., you arrange for your salary or pension of at least €900/month to be paid directly into your Openbank account (condition): 5% annual NIR (5.12% APR). Gross annual interest of €250.
- If conditions are not met: 0.05% APR and annual NIR. Gross annual interest of €2.50.
2 APR calculated for a constant balance of €10,000 taking the two interest rate tranches into account. Representative example with a constant balance of €10,000 in the first year:
- If conditions are met i.e., you arrange for your salary or pension of at least €900/month to be paid directly into your Openbank account (condition): 5% annual NIR up to €5,000 and 0.20% for excess balance (2.63% APR). Gross annual interest of €260.
- If conditions are not met: 0.05% APR and annual NIR. Gross annual interest of €5.00
3 Representative example with a constant balance of €10,000 in the first year for the Openbank Savings Account:
- If conditions are met i.e., you arrange for your salary or pension of at least €600/month to be paid directly into your Open Payroll Account or you set up three monthly or bimonthly direct debits: at 0.20% annual NIR (0.20% APR), gross annual interest of €20.
- If conditions are not met: at 0.05% annual NIR (0.05% APR), gross annual interest of €5.
There is no maximum amount to earn interest on in the Openbank Savings Account.
4 You can enjoy the advantages of the Open Payroll Account if you arrange for your salary, pension or unemployment benefit of at least €900/month to be paid into your account.
5 0% NIR and 0% APR. Representative example of remuneration with a constant balance of €10,000 during the first year at 0% annual nominal interest (0% APR): gross annual interest of €0.
6 Please note that in order to take advantage of certain discounts, you must pay with an Openbank card.
The safe option for your savings
With the backing and solvency of the Santander Group
Learn more about your Openbank account
Advantages for your day-to-day
An account for fast and simple daily banking: free transfers in euros within the EU, free ATM cash withdrawals with your debit card, no fees (0% APR, 0% NIR), and plenty more!
