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A credit account with no expiry date.

An annually renewable credit account that doesn't need a new policy with each renewal.
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Features of the Open Term credit account

Avoid notary costs and admin.

There is no need to go to the notary to sign renewals if there are no changes to the terms and conditions. This saves your company time and money.

Keep the same account number, every year.

This will avoid the hassle of changing your account number: you can keep your direct debits, cheques, promissory notes, etc.

It works just like any current account.

You can use your Open Term credit account just like a normal current account: deposit and withdraw cash, direct debits and payments, issue cheques, promissory notes, etc.

See Open Term credit account terms and conditions Open Term credit account terms and conditions

The terms and conditions for Open Term credit accounts can be personalised and are negotiated individually with each customer.

Interest rate

Open Term credit accounts can be contracted at both fixed- and variable-interest rates.

Interest settlement

Interest is settled quarterly, although you can request monthly, semi-annual or annual settlement.


The Open Term credit account can be used for all kinds of guarantees, including mortgage guarantees.


What is the difference between credit and loans?

Loans make money available to the customer. This is deposited in their current account. Part of the principal is repaid every month. With credit, a maximum amount is authorised that the customer can draw according to their needs, paying interest on the amount they use. The credit limit is reviewed annually.

Do I have to pay anything if I don't use the credit?

You would not pay interest, but a fee would be charged on the average undrawn balance.

How often is interest charged?

Interest on the account is settled on a quarterly basis, as a general rule. However, monthly, semi-annual and annual settlement can be requested.

Can I keep the current account number if I cancel the credit?

No, you can't.

Can I increase or decrease the credit limit?

Yes, but a new risk study is needed to confirm the new limit. And you would have to visit a notary because of the change of the limit.

Can an Open Term credit account have multiple holders?

Yes. They can all draw on the account as needed and are jointly liable for the debt.

Got a question?

The Bankinter Corporate help centre has the answer.