We use our own and third-party cookies to provide the best possible experience, analyse user browsing habits and offer content which may interest you. By continuing to browse, we understand that you accept the use of these cookies. You can change your settings and find out more information in our Cookies policy
A long‐term savings plan that invests in investment funds so you don’t pay any tax on your returns while you’re saving. And if you opt for a life annuity when you redeem your savings, you won’t pay any tax at that point either.
Pay in to your plan whenever you want
The minimum initial premium is €2,000. After that, you can make contributions from as little as €90, up to to an annual maximum amount of €8,000.
Access your funds
Once you have held the plan for 15 days, you can redeem all or part of your savings without any charges or penalties.
With tax advantages
As long as you don’t redeem any of your savings, you won’t pay tax on the returns.
When you redeem your savings, if you opt for a life annuity and have held your plan for at least five years, you won’t pay tax on the returns.
Also includes life insurance
In the event of the death of the holder, the beneficiaries would obtain the accumulated balance plus an additional 5% with a maximum of €6,100 for those under 65 and €625 for those over 65 years of age.
Let experts manage your pension plans.
YOU CHOOSE WHERE AND HOW TO INVEST
See the range of portfolios and investment funds available. You can change them whenever you want, free of charge and without any tax implications.
You can contract an Individual Systematic Savings Plan (PIAS) if you are of legal age.
The initial minimum premium is €2,000, with subsequent minimum premiums of €90.
You can perform a full or partial redemption without any type of penalty 15 days after the insurance comes into effect. If you want to perform a partial redemption, you must keep a minimum of €600 in your PIAS.
Ownership of the insurance
To access the tax benefits offered by PIAS, the policyholder, insured person and beneficiary of the income must be the same person.
As this is an insurance policy, you can designate the person or persons who are the beneficiaries in case of death. If you do not do this, the beneficiaries will be your legal heirs.
You have to consider two periods when assessing the taxation of a PIAS: the savings or capitalisation period, and the period when you receive the benefit.
During the savings or capitalisation period:
the premiums paid are not deductible but the accumulated returns are not taxable. Neither do any redistributions amongst the baskets or forms of investment that you might make during the life of your plan have any fiscal impact.
When you receive your benefits:
one of the features of PIAS is that you can receive your benefits in two ways.
Setting up an annuity
You can choose this option if: the annual contributions do not exceed €8,000; the accumulated amount does not exceed €240,000; more than five years have passed since the first contribution; and the beneficiary of the insurance is the policyholder and the insured person. In this case, the returns generated by your PIAS have no tax impact. In addition, the income you receive will be treated as capital gains, and the rate at which this is taxed in income tax depends on the age of the insured when they arranged the PIAS:
Under 40: 40% of payments received are subject to tax
Between 40 and 49: 35% of payments received are subject to tax
Between 50 and 59: 28% of payments received are subject to tax
Between 60 and 65: 24% of payments received are subject to tax
Between 46 and 69: 20% of payments received are subject to tax
Over 70: 8% of payments received are subject to tax
If an annuity is not set up
In this case, the income generated is not tax exempt, and is taxed as capital gains for personal income tax purposes (IRPF), with the corresponding withholdings.
Tax in the event of death
In the event of death of the insured person, in addition to the general deductions for kinship, the PIAS offers an additional deduction of €9,159.48 for each beneficiary who is a spouse, ascendant or descendant.
PIASs have an annual fee of 0.10%, which is deducted monthly from the accumulated fund.
Show/Hide legal text
Bankinter, S.A., as a bancassurance operator with registered office at 29 Paseo de la Castellana (28046 Madrid), recorded in Volume 1857, Folio 220, Page 9643 of the Madrid Companies Register, holder of tax identification number A-28157360 and registered with the special administrative registry of the General Directorate of Insurance and Pension Funds at the Ministry of the Economy and Finance (44 Paseo de la Castellana, 28046 Madridwww.dgsfp.mineco.es), under code OV-0028, has entered into insurance agency agreements with the following institutions: Bankinter Seguros de Vida, S.A., Bankinter Seguros Generales y Reaseguros, S.A., Línea Directa Aseguradora, Plus UltraSeguros Generales y Vida, S.A., Liberty Seguros, Compañía de Seguros y Reaseguros, S.A., AXA Seguros Generales, S.A. de Seguros y Reaseguros, Mapfre Familiar Compañía de Seguros y Reaseguros, S.A., Mapfre Empresas, Compañía de Seguros y Reaseguros, S.A, Mapfre Global Risk, Cia Internacional de Seguros y Reaseguros, Helvetia Compañía Suiza, S.A. de Seguros y Reaseguros, HDI Hannover International España, S.A. de Seguros y Reaseguros, Stonebridge International Insurance LTD, Financial Insurance Company Limited Spain, FinancialAssurance Company Limited Spain, SOS Seguros y Reaseguros, S.A., ACE European Group, S.A., Asefa, S.A. Seguros y Reaseguros, Solunión Seguros de Crédito Cia Internacional de Seguros y Reaseguros, S.A., Sanitas S.A de Seguros y Cigna Life Insurance Company of Europe, S.A., Metlife Europe Limited Sucursal en España and DAS (Defensa del automovilista y de siniestros internacional, S.A. de seguros).
Show/Hide legal text
Basic data protection information. Bankinter Seguros de Vida, S.A de Seguros y Reaseguros will process your data for the following purposes: (i) in compliance with legal obligations; (ii) for the comprehensive and centralised management of your insurance contract; (iii) to ask doctors and healthcare providers to supply the data and medical history required to prepare the contract and protect your interests; (iv) to analyse and develop profiles to ensure the correct execution of the insurance contract; and (v) to contact you with information about products or services that may be of interest to you since they are similar to the ones you already have with us. To be able to inform you about the products and services mentioned above, we will analyse your personal data to create a profile that will allow us, by whatever channel we may use to reach you, to tailor our commercial announcements as closely as possible to your needs, tastes and preferences. Please also refer to the additional information about data protection prepared by Bankinter Seguros de Vida, S.A. de Seguros y Reaseguros.
Bankinter has the solution
We’re here to answer your banking queries and provide you with technical support.
1. Who is the data controller?
The data controller is Bankinter, S.A. (hereinafter referred to as 'Bankinter') with Tax ID No. A28157360 and registered office at Paseo de la Castellana 29 (28046 Madrid).
2. For what purposes do we process your data?
The data you provide us with will be processed to receive information about the corresponding request and, as applicable, formally enter into a contract for the product of interest to you.
3. What are the legitimate bases for processing your data?
The legal basis for fulfilling the purpose set out in the above section will be the processing of the request for information. Therefore, any refusal to supply the personal data requested, or the submission of inaccurate or incomplete data, could therefore render it impossible to provide you with the service. Customers are responsible for ensuring the truthfulness of the data provided, and for notifying Bankinter of any modification thereof.
4. Who will receive your data?
The data provided will not be transferred to third parties, unless there is a legally obligation to do so.
5. For how long will we process your data?
Unless you have stated otherwise, we will keep your data for a period of six months. As soon as they are no longer necessary for the purposes described above, the data will be blocked for the period for which they may be required for carrying out, or defending, administrative or legal actions, and they may only be unblocked and processed again for this purpose. Once this period has elapsed, the data will be cancelled definitively.
6. What are your rights in relation to the processing of your data?
You may exercise your rights at any time to access, rectification, erasure, opposition, restriction of processing and portability of the data in the circumstances and scope established by the applicable legislation currently in force. To exercise your rights, please contact us by writing to the following address: Bankinter, S.A. Operaciones- Protección de Datos. Calle Pico San Pedro, 1. Tres Cantos. Madrid. 28760, enclosing a copy of your national ID or any other identifying document. Please note that you also have the right to lodge a claim with the Spanish Data Protection Agency.
7. Where can I obtain further information about data processing?
You can get further information about how Bankinter processes your data at this