Monday, August 15

Mortgages. EVO Banco lowers interest in exchange for more bonding

EVO Banco modified the conditions of its mortgages on Thursday. Specifically, it has lowered interest, increased the requirements that must be met in order to enjoy discounted rates, and eliminated the reduction in interest when the Euribor rises.

It is not the only novelty that the banking sector has left us in recent days. For example, BFS has slightly lowered the profitability of its deposits and N26 has closed a round of financing of more than 900 million dollars, among other news.

The financial product comparison tells us all the recent news in this article.

Changes in EVO mortgages

Evo has redesigned its catalog of loans for the acquisition of houses. In the case of the Smart Mortgage, which is the variable, the interest is now Euribor plus 1.85% the first year and Euribor plus 0.83% thereafter.

Before it was Euribor plus 1.90% the first year, Euribor plus 0.99% from the second to the fifth, Euribor plus 0.78% from the sixth to the tenth and Euribor plus 0.68% from the eleventh.

The interest on the fixed rate Smart Mortgage, meanwhile, has dropped from 1.29% to 1.24% for a term of up to 30 years. And that of the Flexible Smart Mortgage (at a mixed rate) has gone from 1.09% the first 10 years (or 1.25% the first 20 years) and Euribor plus 0.98% the following to 1.04% the first 10 years (or 1.20% the first 20 years) and Euribor plus 0.93% the following.

To achieve these interests, moreover, now more requirements must be met. Before, they were subsidized by 0.10 percentage points for directing their payroll (no minimum amount) and by 0.10 points more for contracting home insurance with the entity.

After the change, the payroll, pension or unemployment benefit (at least 600 euros per month) are subsidized by 0.05 points for taking out home insurance, and 0.10 points for contracting home insurance. take out life insurance with the bank.

Before the modification, likewise, EVO Banco offered to lower the interest of its variable mortgage (and that of its mixed mortgage in the variable rate tranche) if the Euribor rose above 2%. However, this entity has eliminated that possibility.

BFS reduces the interest on your fixed terms

Banco Finantia Spain (BFS) has lowered the profitability of all its deposits by 0.1 percentage points. After the change, the tax with the shortest term (one year) pays 0.40% APR and the longest-term deposit (five years) rent at 0.75% APR.

The minimum contract amount is 50,000 euros in all cases. Despite offering above-average profitability even after the recent decline, the best deposits contractable from Spain they are more profitable, with remunerations close to 1% APR for terms of two and three years.

N26 raises 900 million dollars

N26 has closed a financing round of more than 900 million dollars (774 million euros) which has triggered the valuation of the digital bank above 9,000 million dollars (7,732 million euros).

This is the largest round of financing carried out in Europe by an online bank. The funds will go to expand your offer, as well as the number of employees (its objective is to add a thousand new workers).

The fintech, which already has more than seven million customers globally, of which 730,000 are in Spain, will now limit the number of new monthly users.

The entity has reached an agreement with the German supervisor to limit the volume of new registrations to a maximum of 70,000 each month “with the aim of laying even more solid foundations for sustainable growth”, explains N26.

BBVA allows you to change your pension online

BBVA has become the first bank in Spain to allow its clients to transfer their pension from another entity through its website and application.

“Thanks to the Banco Cambio service, BBVA will be able to manage on behalf of its clients and with prior consent, directly with the Social Security Treasury and thus initiate the application to transfer the pension,” explains the blue bank.

This new functionality, pioneer in our country, gives the client the possibility of move your pension from another entity without having to go to the bank branch or go to the Administration offices. To carry out the transfer, the client must request it through their online banking, although they will also have the possibility of doing it with the help of a manager.

New promotion: Orange Bank gives away up to 20 euros

Orange Bank gives up to 20 euros to new customers who have opened an account between October 1 and January 31, 2022 and have a mobile line contract with the operator that gives the entity its name.

On the one hand, give five euros when a first deposit is made in the account of at least ten euros. On the other hand, it gives one euro each time a purchase of any amount is paid with the debit card, up to a maximum of 15.