Bankinter rewards pension plan transfers with up to 4% cash back

Bankinter has just launched its traditional year-end pension plan campaign, one of many occasional campaigns it puts on throughout the year. The current campaign offers up to 4% in cash back rewards to savers who transfer their pension plans and ESPVs from other financial institutions.

This offer will be active for four months, well after the end of the year and throughout the month of January. Rewards will be deposited in accounts on 28 February.

The offer provides incentives based on the amount of savings transferred. If savers transfer pension plans amounting to, or in excess of 30,000 euros to Bankinter, they will receive a cash reward for a gross 3% of the transferred balance (net of incoming and outgoing transfers) during the offer period.

In addition to this transfer, if customers activate a monthly contribution of 100 euros or more during the campaign, they will receive an extra 1% bonus, giving them a total reward of 4%.

For transferred pension plans of less than 30,000 euros and greater than, or equal to 1,000 euros, the reward will be a gross 2% with an extra 1% for activating the same monthly contribution as previously mentioned.

To receive these rewards, a commitment period of six years is required; however, it is important to note that a pension plan is always a long-term savings instrument. In any event, the maximum reward amount is 5,000 euros.

In addition to these transfer rewards, new customers as well as customers already with their pension plans or EPSVs with Bankinter can benefit from an extra 0.25% cash back reward if they make an additional contribution of over 3,000 euros and hold more than 25,000 euros in assets within their plan by the end of the year. Therefore, if all requirements are met, a new customer could obtain a total bonus of 4.25%.

Bankinter runs campaigns throughout the year in order to de-seasonalise saving.