The well-known Spanish bank, Openbank, lowers the interest on the mortgage to its customers. It offers a reduction of up to 0.15 percentage points on its fixed-rate mortgages to customers who provide all the documentation necessary for the analysis of the operation to be carried out, within a period of less than ten days.
In this article you will find:
What is Openbank?
Openbank is based in Madrid and its main organization is the Santander Group. It focuses on retail banking for individuals, being its most important operating channels today: internet and mobile banking. They are also found in different places such as Germany, Portugal and the Netherlands It was founded in 1995 and its headquarters are located in Madrid, Spain.
According to his own words they are the bank of the future, the largest digital bank in the entire European continent and they constantly work to be one of the best in the world. It provides the following services:
- It is 100% digital and has no commissions.
- All its services are available from its own website and application.
- They have a very innovative way of saving. They have an automated investment, new tools to invest and a Roboadvisor or automated managers. These are digital platforms that provide automated wealth management services, which through the help of some mathematical algorithms, invest the client’s money in such a way that it does not require substantial knowledge in finance.
- They provide personalized attention 24 hours a day and seven days a week, every day of the year.
They also have their own cards such as Open Debit Debit Card, Open Credit Credit Card, Solidarity Debit Card, among other.
A bit of history about Openbank
- In 1995 Openbank emerged as the first telephone bank in Spain and achieved a large number of 100,000 customers.
- During 1999 it became the first online broker that allows real-time trading in national and international markets.
- In 2011 they were the first bank to have a mobile application for iOS and Android.
- In what was 2017, they launched the new digital platform for their website and cloud-based application.
- During 2019 they expanded internationally, since they launched their services in Germany, the Netherlands and Portugal.
- In the future, the digital bank intends to launch the digital subsidiary in the US and begin operating in Argentina before the end of 2021. In the medium term, the goal is to enter 10 new markets.
Interesting information about this entity
- They are perceived as a global start-up backed by financial institutions in the eurozone. This, also called the euro zone or euro zone, is the set of member states of the European Union (EU) that adopted the euro as their official currency (19 states), thus forming a monetary union.
- This zone was created on January 1, 1999 and the states that compose it are: Germany, Austria, Belgium, Cyprus, Slovakia, Slovenia, Spain, Estonia, Finland, France, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands and Portugal.
- Their work environment is plural and diverse, with more than 50% of women in management positions.
- They have an agile and practical style together with a “work-hard, play-hard” philosophy. This refers to working hard but also having fun. It’s about enjoying business days while delivering excellence to customers.
They have some leadership principles:
- They comply with the laws and regulations.
- They take calculated risks.
- They start from the client in everything they do.
- They build and reinforce customer trust.
- They make decisions based on hard facts.
- They constantly try to improve.
- They focus on recruiting and developing talent.
- They make Openbank a great place to work.
- They are a team and they behave as such.
Openbank lowers mortgage interest
This measure also applies to people who move their mortgage to the entity and its objective is to speed up the processing times of the product, through digital channels until reaching the notarial signature. The signing of a notary on a contract ensures that this actor saw the personal identification of the signatories and affirms that they are who they say they are. This signature also clarifies that the people involved in the contract signed with a good disposition, being in their faculties, having the mental and legal capacity to do so.
Customers who provide the necessary documents such as latest payroll, receipts or identity document (DNI) of the holders, among other requirements, will obtain a total reduction of 0.10 percentage points over the normal price of the mortgage.
If the appraisal is requested, that is, the estimate of the market price of a real estate at a specific time, and the simple note of the house in the next ten days, an additional 0.05 points will be deducted above the type of nominal interest on the fixed mortgage.
Let’s talk about percentages
The Santander Group’s digital bank, Openbank, has a mortgage offer with a fixed interest rate from 1.30% NIR (fixed percentage that is agreed as a payment concept for the borrowed money. Indicates the amount in percentage that the bank receives for transferring the money), a 1.50% TAE (interest rate that indicates the cost or effective performance of a product) and a variable interest rate that goes from el 1.95% the first year and Euribor + 0.95% from the second.
The institution declares that Anyone can perform a simulation and obtain pre-approval of their operation through the bank’s website.
Until next September 30, customers who Bring a friend or acquaintance with you, who takes out a mortgage at Openbank, you will receive a 100 euro bonus, with a maximum of ten friends in total. New users of the bank will have a payment of 300 euros.
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