Online savings: Santander increases the daily interest rate for new customers to 3.6% pa – 2024-05-07 18:52:42

The interest rate applies from the first euro for all deposits that can be withdrawn daily and is guaranteed for the first four months.

Vienna (OTS) – As of May 7, 2024, Santander Consumer Bank will increase its overnight interest rate for new customers from 3.35 to 3.6 percent pa. The interest rate applies for the first four months. The money will then earn interest at the standard rate of currently 2.6 percent pa. With the savings interest calculator at www.santanderconsumer.at/sparen, customers can calculate the expected interest income with a click of the mouse.

Monthly interest with compound interest effect

“With our improved daily money offer, we offer all new customers an even more attractive opportunity to invest their money profitably and at the same time have it available every day. A daily money account is particularly recommended for people who park their money in their salary account.”says Olaf Peter Poenisch, CEO of Santander Consumer Bank. “The combination of an increased starting interest rate for new customers and attractive standard conditions makes our current account an excellent choice for savers.”

An additional advantage is that interest is paid on daily deposits monthly, which leads to a compound interest effect. There is also no minimum deposit for a daily money account. The deposit limit is one million euros per customer.

Free daily money account

The Santander Consumer Bank’s daily money account is free and can be opened online at www.santanderconsumer.at/sparen with just a few clicks. A new customer is anyone who has not opened a savings account with the bank in the last twelve months. The daily interest rate is variable and applies until revoked.

Santander Consumer Bank has been active in Austria since 2009 and has been offering online savings products since 2013. The financial institution has an Austrian banking license and is subject to the statutory deposit insurance ESA. The capital gains tax (KESt), which is due on the savings balances, is automatically paid by Santander to the tax office.

About Santander Consumer Bank

Santander Consumer Bank GmbH is Austria’s specialist for consumer loans with the aim of making mobility and everyday items affordable for people. The product portfolio includes cash loans, installments, debit cards, vehicle loans, leasing and insurance. In the savings area, the offering includes daily and fixed-term deposit accounts. Santander is a close partner of domestic retail in Austria. With more than 3,000 partnerships in the retail and motor vehicle trade, the company is the leading manufacturer-independent financier of cars, motorcycles and consumer goods. As of the end of 2023, Santander employs over 500 people and operates 28 branches and a customer service center in Austria. Santander serves 330,000 customers. Based in Vienna, the company operates with an Austrian banking license and is subject to statutory deposit insurance.

Santander Consumer Bank in Austria is part of Banco Santander (SAN SM, STD US, BNC LN), founded in 1857, a leading banking group for private and business customers based in Spain. With presence in ten core markets in Europe and America, Banco Santander is one of the largest banks in the world in terms of market capitalization. As of the end of 2023, the group operates 8,500 branches, employs over 212,000 people and serves 165 million customers.

Questions & Contact:

Santander Consumer Bank GmbH
Mag. Robert Hofer
Phone: +43 (0)676 8131 9520
E-Mail: robert.hofer@santanderconsumer.at