FIXED-RATE MORTGAGE

IMPORTANT INFORMATION

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  ¹ Offer valid until 31 december 2019 or for a maximum of 40,000 new accounts. Exclusively for new customers with a salary of at least €1,000. Maximum interest-bearing balance is €5,000. First year: nominal annual interest rate of 4.94% (5% AER). Second year: nominal annual interest rate of 1.99% (2% AER). Interest paid every six months. Example for daily balance of €5,000 in a professional/pension/payroll account, calculated with an interest payment period of 180 days, gross interest paid: 1st six months €121.81, 2nd six months €121.81, 3rd six months €49.07, 4th six months €49.07. To access and keep the benefits of our Payroll Account, you will need to maintain the declared level of income and pay at least three direct debits per quarter. The card linked to the payroll or businness account must also be active, which means making at least three payments per quarter. The credit card linked to the pension account does not need to be active.
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  ² 20-year fixed-interest rate mortgage: Here is an example of an APR mortgage offered by Bankinter, S.A., based on the following features:
  Mortgage amount: €150,000. Mortgage term: 20 years (240 monthly instalments). APR: 2.60%. Monthly instalment for 20 years: €751.04. Final instalment: €749.62. Arrangement fee: €500. Total interest: €30,248.18. Interest rate: 1.89% (240 months). Monthly instalments. Total amount owed: €191,694.34.
  
  This APR has been calculated on the basis of the following:
  - A 10-year life insurance policy with coverage of €150,000 for a 30-year-old person. Annual premium of €190.86. Renewable annual insurance.
  - Home insurance policy with coverage of €100,000 plus home contents insurance for €30,000, and an estimated annual premium of €343.97. Renewable annual insurance.
  - Appraisal costs: €249.56.
  
  Interest rate subject to purchasing the following Bankinter products:
  - Free Payroll Account, Professional Account or Non-Payroll Account (bonus of 0.50 percentage points).
  - Life insurance covering the full amount of the mortgage, taken out with Bankinter Seguros de Vida, S.A. de Seguros y Reaseguros (bonus 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 (bonus of 0.10 percentage points).
  - Pension plan/voluntary pension scheme: 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).
  
  These products are optional for the customer, but if they are not purchased the above rate (1.89%) will be increased by 1.30% corresponding to the sum of each of the products not purchased. Accordingly, if none of the conditions are met the fixed interest rate will be 3.19% (APR 3.74%). Monthly instalment for 20 years: €846.24. Final instalment: €844.81. Total interest: €53,096.17. Total amount owed: €211,625.13. This APR has been calculated on the basis of taking out a home insurance policy for €100,000 for structural damage and a home contents policy for €30,000, with an estimated annual premium of €343.97, plus an annual maintenance fee of €45 for the current account used to pay the instalments, an arrangement fee of €500 and appraisal costs of €249.56.
  
  The resulting monthly instalments (French repayment system) are the result of the coefficient of (1 + interest) raised to the power of the term of the financial arrangement multiplied by the interest, between (1 + interest) raised to the power of the term of the financial arrangement, minus 1, all multiplied by the outstanding capital (where "interest" refers to NIR offered divided by 12). The instalment obtained includes the interest (result of dividing the interest rate by 12, multiplied by the outstanding capital) and the amount repayable (result of subtracting the interest from the instalment).
  
  The APRs will be calculated taking into account the following:
  
  1. The APRs will be 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 agreed in the credit agreement.
  2. For credit agreements with clauses that allow for amendments to be made 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. The calculation has been made on the assumption that the benchmarks will not vary, so these APRs will vary when the interest rate is revised and may also vary depending on the amount and duration of the facility. These APRs have been calculated on the assumption that there will be no partial or total cancellation of the mortgage. The APRs do not include the costs which the customer/borrower would have to pay for the breach of any of the obligations in the agreement.
  
  Bankinter, S.A. will have the final say on whether to grant the mortgage. This mortgage offer is subject to the condition that the borrowers have a total income of over €2,000 a month. The mortgage amount may not exceed 80% of the lesser of the purchase value or appraisal value of the property. In the case of second homes, the maximum amount is 60%. Maximum duration of 20-year mortgage.
  
  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 10 September 2019 or until the amount offered (€25 million) is reached.