Openbank Interest-bearing Account
✔2.50% APR1 and 2.47% NIR with no balance limit
✔For a whole year
✔For activating Bizum and bringing your savings
For new customers only
Your money, growing non-stop.
For a whole year when you bring your savings over and activate Bizum.
No maximum balance limit and no need to pay in your salary.
Deposit or withdraw money whenever you want.
Making saving simpler and easier to manage.
After the first year, your money will continue earning interest in an Open Savings Account at the prevailing rate at that time.
Got direct debits? Get an extra €200
Pocket €20 a month for 10 months when you switch 2 direct debits of any amount to Openbank.
Use code TERENTA to open an account by 30/06/26
Do the maths
Calculate how much you could earn in a year.
More for your everyday banking
Your card, ready for anything
From the app, you can switch on Travel+ on your debit card for €4.99/month. In just one tap, you’ll unlock extra benefits for your trips.
✔ €0 fees on purchases in any currency5, every day of the week. .
✔ €0 fees on cash withdrawals at any ATM worldwide, up to 2 times a month.
And when you no longer need it, just switch Travel+ off in the app … until your next trip..
One app for everything. Made simple.
- Send Bizum payments to your contacts in seconds.
- Can’t find your card? Turn it off. Found it? Turn it back on instantly.
- Schedule automatic transfers to your savings account.
- Get real-time notifications for your purchases.
- Set up direct debits with just a photo.
We’re on hand to help
3, 2, 1… and you’re all set!
The safe option for your savings
With the backing and solvency of the Santander Group
Use code TERENTA to open an account by 30/06/26
Worth checking out
Interest-bearing accounts are designed to offer a set rate of interest on the money you keep in them.
They’re two of the most common banking products, and some people use them in a similar way. But there are important differences between a savings account and a current account.
Many financial products, such as personal loans, mortgages, fixed-term deposits and pension plans, mention NIR and APR. But what do these terms mean, and why are they so often shown together?
1 Interest corresponding to the first year. Monthly interest settlement. REPRESENTATIVE EXAMPLE of interest with a constant balance of €10,000 for one year at 2.50% APR and 2.47% annual NIR. Gross annual interest of €247.
2 REPRESENTATIVE EXAMPLE of interest with a constant balance of €10,000 for the first year at 0% annual NIR (0% APR). Gross annual interest of €0.
Current account with no maintenance, administration or closure fees. Please read the pre-contractual information and the Fee Information Document for the Open Current Account.
3Issuance and renewal are free for the primary cardholder. Please read the pre-contractual information for the Open Debit Card.
4 If the source and destination accounts are in different currencies, the exchange rate available on our website will apply. Foreign exchange fees may apply.
5 Mastercard may apply a mark-up to European Central Bank exchange rates.
6 Source: Benchmarking NPS Stiga, second half of 2025.
Want to learn more about the Openbank Interest-bearing Account
What is an interest-bearing account and what do I need to open one?
What do I get when I sign up?
What are the benefits of opening an account using the code TERENTA?
When will I receive the incentive?
What direct debits do I need to set up to get the €200?
What happens if I fail to meet the conditions of the promotion one month?
Do I need to set up a direct deposit for my salary to earn interest?
Can I withdraw my money at any time?
Can I move money between the current account and the interest-bearing account at no cost?
If I sign up using a friend’s referral code, can I add the TERENTA afterwards?
What is an interest-bearing account and what do I need to open one?
Our Interest-bearing Account has no maintenance, administration or closing fees, so your savings can keep earning interest, which you receive each month. You can open this account by using the code TERENTA when signing up. You can start earning interest on as little as €1, with no maximum balance limit: the full balance you transfer will earn interest for 12 months. To benefit from the highest interest rate, just activate Bizum with Openbank. There’s no need to set up a direct deposit for your salary to enjoy the interest.
After the first 12 months, your account will automatically become an Openbank Savings Account, where your money will continue earning interest at the rate available on that account at the time.
You can add money whenever you want, and withdraw all or part of your balance at any time, including any interest earned up to that point.
Read the Fee Information Document for the Openbank Interest-bearing Account.
What do I get when I sign up?
When you sign up, you get:
- A current account with no opening, maintenance or closing fees.
- A debit card linked to this account with no application or maintenance fees for the main holder.
Plus, if you use the promotional code TERENTA during the process:
- An interest-bearing account exclusively for new customers, which has no maintenance, administration or closing fees, and in which your savings earn interest at 2.50%1 APR, 2.47% annual NIR for one year.
Your current account will be activated first. Your interest-bearing account will then be activated and will appear in your Customer Area within around 24 hours. If this falls on a weekend or public holiday, it may take a little longer.
Please note that, to earn interest at this rate, your money must be kept in this account and not in your current account.
As each product has its own terms and conditions, you’ll receive separate documentation for each one. However, the contract signing process is completed in a single step and is 100% digital.
See the applicable fees for the use of the main services associated with the payment account in the pre-contractual information and in the Fee Information Document for the Openbank Interest-bearing Account.
What are the benefits of opening an account using the code TERENTA?
If you sign up using the code TERENTA, you get a current account with no opening, maintenance or closing fees, a debit card with no application or renewal fees for the main holder, and an Openbank Interest-bearing Account exclusive for new customers.
With the Openbank Interest-bearing Account your savings earn interest at 2.50% APR1 (2.47% annual NIR) for 12 months if you activate Bizum with Openbank.
And if you bring at least 2 direct debits over, you’ll also get €20 a month for 10 months, up to a maximum of €200.
When will I receive the incentive?
Each month, you’ll receive the incentive in two parts, depending on the requirements you meet:
- If you set up at least 2 direct debits, you’ll receive €20 per month in your current account for up to 10 months.
- If you have Bizum with Openbank and bring your savings over to the Openbank Interest-bearing Account, the interest will be paid monthly into that account for 12 months.
Important: to receive the full €200 for your direct debits, you must set them up before 31 August 2026. The final payment will be made on 30 June 2027, even if you haven’t completed the full 10 months.
Interest on the Openbank Interest-bearing Account is paid monthly. It’s calculated based on the balance held in the account and paid for 12 months from the date the account is opened.
What direct debits do I need to set up to get the €200?
You need to set up at least 2 direct debits with Openbank. They can be for any amount and from any provider.
For each month you keep your direct debits active, you’ll receive €20. Keep them for 10 months and you’ll receive the full €200.
What happens if I fail to meet the conditions of the promotion one month?
Nothing happens - there’s no penalty.
You simply won’t receive the €20 payment for that month. However, if you meet the requirements again the following month, you’ll start receiving it again.
Do I need to set up a direct deposit for my salary to earn interest?
No. You don’t need to set up a direct deposit for your salary to earn interest in the Openbank Interest-bearing Account. You just need to use the code TERENTA when opening your current account, have Bizum activated with Openbank, and transfer the money you want to save into the interest-bearing account. Remember, there’s no maximum balance eligible for interest, so you can transfer as much as you want.
Can I withdraw my money at any time?
Yes. You can withdraw all or some of your money from the Openbank Interest-bearing Account whenever you want.
Can I move money between the current account and the interest-bearing account at no cost?
Yes. Transfers between your current account and your interest-bearing account are free and instant. Don’t forget that you will only earn interest on the balance in your interest-bearing account.
If I sign up using a friend’s referral code, can I add the TERENTA afterwards?
No. If you open your current account using a friend’s referral code, you won’t be able to add the TERENTA code later to benefit from this promotion as well. Both promotions are exclusive to new customers and can’t be combined.