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Fixed-Rate 20-Year Mortgage: Below is an example of the APR calculated for a mortgage offered by Bankinter, S.A. based on the following characteristics:
Mortgage amount: 150.000€. Term of loan: 20 years (240 monthly repayments). APR: 2,01%. Monthly instalments over 20 years: €710.10, and a final instalment of €711.10. Arrangement fee: 500,00€. Total interest: 20.425,00€. Interest rate: 1,30%. (240 months). Monthly repayments. Total repayment amount €181,735.36. Total cost: 31.735,36€.
This APR has been calculated on the following basis:
- Arrangement of life insurance for an amount of 150.000,00 Euros for 20 years for a 30-year-old person. Annual premium of €164.29. Renewal annual insurance.
- Arrangement of home insurance for €100,000 for the structure and €30.000,00 for the content, with an estimated annual premium of €363.75. Renewable annual insurance.
-Appraisal costs: 249,56€.
The interest rate is subject to the borrower holding the following Bankinter products:
- Salary Account, Business Account or Non-Salary Account (discount of 0.50 percentage points).
- Life insurance covering the full mortgage amount, taken out with Bankinter Seguros de Vida S.A. de Seguros y Reaseguros (discount of 0.60 percentage points).
- Comprehensive home insurance with minimum home contents coverage of €30,000 and structure coverage equivalent to the appraisal value of the property for insurance purposes, taken out with Línea Directa Aseguradora, S.A. and brokered by Bankinter, S.A., Operador de Banca-Seguro (discount of 0.10 percentage points).
- A pension plan/EPSV have a pension plan/voluntary pension scheme in place with the company Bankinter Seguros de Vida, belonging to Bankinter, S.A. Group, for the entire term of the loan and make a minimum annual contribution to it of €600 (bonus of 0.10 percentage points).
Compliance with discounts will be reviewed annually.
These products are optional for the customer, but if they are not arranged the above rate (1.30%) will be increased by 1.30% corresponding to the sum of each of the products not arranged. Accordingly, if none of the conditions are met the fixed rate will be 2.60% (APR 2.96%). Monthly instalment for 20 years: €802.18 and a final instalment of €802.83. Total interest: 42.523,85€. Total amount repayable: 197.987,81. Total cost: 47.987,81€. This APR has been calculated on the basis of arranging with Bankinter, or a different provider, the legally required home insurance policy for €100,000.00, with an estimated annual premium of €190.72, in addition to an annual maintenance fee of €45.00 for the current account required for payment of the instalments, an arrangement fee of €500.00 and appraisal costs of €249.56.
The monthly payments (French repayment system) are the result of raising the coefficient (1 + interest) to the power of the number of outstanding instalments in the transaction multiplied by the interest, divided by (1 + interest) raised to the power of the outstanding payments in the transaction, minus 1, all multiplied by the capital pending repayment ('interest' is understood to be the offered NIR divided by 12). The resulting instalment includes the amount corresponding to the interest (the result of dividing the interest rate by 12, multiplied by the outstanding principal) and the amount repayable (the result of subtracting the interest from the instalment).
The APRs have been calculated taking into account the following:
1. The APRs have been calculated based on the credit facility remaining in place for the agreed term and the borrower and the lender fulfilling their obligations under the terms and conditions of the mortgage agreement.
2. For mortgage agreements with clauses that allow for adjustments to the debit rate and, where applicable, to the costs included in the APRs that are not quantifiable when the calculation is being made, the APRs will be calculated based on the premise that the debit rate and other costs will remain unchanged with regard to the level set at the time the agreement was signed.
3. These APRs may vary depending on the transaction amount and term. These APRs have been calculated on the assumption that there will be no partial or total cancellation of the mortgage. They do not include the costs which the customer/borrower would have to pay for the breach of any of the obligations in the agreement.
The mortgage is provided subject to the application being approved by Bankinter, S.A. This mortgage offer is subject to the condition that the borrowers have a total income of over €2,000 a month.
If the customer does not fulfil their obligations to the Bank, in addition to the possibility of them losing the property, their liability and that of any other parties involved in the transaction will extend to all of their present and future assets.
Offer valid until 15-05-2021 or until the amount offered (25 million euros) has been reached.
The loan amount may not exceed 80% of the lower of these two values: the property's purchase value or appraisal value, and up to 60% for a second home. The maximum mortgage term is 20 years, provided that none of the holders is over 75 years old at the end of the term.
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We'll pay you a bonus if you set up new regular contributions of at least €50 per month to funds, pension plans, EPSVs or individual systematic savings plans, or allocate at least €250 per month to buy shares. Valid for customers who have not set up or made regular contributions to the product in the past 12 months.
Investment funds: Fund manager: Bankinter Gestión de Activos. Guarantor and depositary: Bankinter, S.A. The prospectus and key investor information document are available at all Bankinter branches, on our website www.bankinter.com and at the CNMV.
Pension plans: The plan promoter is Bankinter Seguros de Vida, S.A. de Seguros y Reaseguros. The pension fund manager is Bankinter Seguros de Vida, S.A. de Seguros y Reaseguros. The depositary of the pension funds is Bankinter, S.A. The prospectus and key information document are available at all Bankinter branches and on our website www.bankinter.com.
You can check the risk indicators and liquidity alerts for pension plans at https://www.bankinter.com/banca/ahorro-inversion/jubilacion.
PIAS: Systematic Individual Savings Plan (PIAS) offered by Bankinter Seguros de Vida, S.A. de Seguros and sold by Bankinter, S.A. as the related BANCASSURANCE OPERATOR, with registered office at Paseo de la Castellana 29, 28046 Madrid, entered in the Madrid Companies Register under Volume 1857, Sheet 220, Page 9643, with Tax ID Number (CIF) A-28157360 and entered in the Special Administrative Registry of the General Directorate of Insurance and Pension Funds, belonging to the Ministry of the Economy and Finance (Paseo de la Castellana 44, 28046 Madrid), http://www.dgsfp.mineco.es, under the bancassurance operator code OV-0028, has taken out the civil liability insurance required under Article 152 of Royal Decree-Law 3/2020 of 4 February on urgent measures incorporating into Spanish law several directives of the European Union concerning public procurement in certain sectors: private insurance; pension plans and funds; tax and tax litigation. private insurance, pension plans and funds, taxation and tax litigation. The bancassurance operator has entered into insurance agency agreements with the institutions listedhere. Individual systematic savings plans (PIAS) are high-risk financial products that can generate losses as well as profits. The key investor information document is available on our website www.bankinter.com.
Shares: You can check the risk indicators and details about shares at https://www.bankinter.com/broker
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Broker account: Promotion valid until 30/06/2021 or until 40,000 new accounts have been opened. Nominal annual interest rate of 2% (2,02% AER). Quarterly settlement. Example for a daily balance of €5,000 in a Broker account, calculated for a settlement period of 90 days, gross remuneration: 1st quarter: €24.66, 2nd quarter: €24.66, 3rd quarter: €24.66, 4th quarter: €24.66.
To be eligible for this remuneration, you must perform at least 10 buy/sell transactions on the market each calendar quarter through any of the available channels for signing up for products offered by Bankinter Broker at any given time. Transactions performed using accounts (securities, derivatives and/or fixed income) linked to the Broker Account and any other Bankinter account where you are the holder or joint holder will be taken into account when calculating the number of transactions.
The promotion does not include currency transactions and transactions using delegated portfolio management services. You must also pay a standard custodial fee on the securities account linked to the Broker Account and on all securities accounts where you are the holder or joint holder. Only one Broker account is permitted per customer and you must live in Spain. This account is not available to Bankinter Group employees and agents. The currency of the Broker account is the euro.