Commissions: Fixed-Term Deposits and deposits do not carry commissions.
Interest rates: vary according to the terms chosen. To see them in detail, you may consult our deposits catalogue.

If you contract a deposit with automatic renewal, the interest rate to be applied to the new deposit will be the one in force for the same period one working day before the effective renewal date.

For deposits under one year, the method used to calculate the interest is the straight-line method based on the following formula:
Net interest = (nominal * nominal ti *days)/36500
In leap years, the calculation of interests shall be done with a base of 36600.
For deposits for a term of over one year, and following the Bank of Spain circular 4.91, regulation 5, net interest is calculated by the financial method using the following formula:
Net interest = Nominal * (1+i)ˆn - Nominal
i = A.P.R./100
n = days/365
Advance cancellation: may be requested over the Internet at any time.

The cost of the cancellation will depend on the interest rate situation in the market when requesting it. If the interest rates were lower than those you have contracted in your deposit, the cancellation will not cause you any break of interest, but if they were higher than those agreed, we will penalize the amount to be received in accordance with the difference between your deposit's interest rate and the current market interest rate.

If a EuroIpf is cancelled, the following cancellation fees will be applied:
25 euros up to 10.000 euros capital.
50 euros for amounts over 10.000 euros capital.
Settlement: the calculation of the settlement of net interests previously shown will be made whenever the settlement is carried out on maturity of the deposit and already includes the tax withholding , if applicable.