MyInvestor, Andbank’s digital bank, has launched a new deposit at 4% APR for 1 month, from 5,000 euros. will be available from this Thursday until next December 12as reported by the entity in a note. The profitability is not comparable with that of the vast majority of deposits on the market, which offer lower returns, but for longer terms (usually 3 months, 6 months and 1 year). This MyInvestor product can only be purchased for one month.
MyInvestor already offers other deposits for amounts from 10,000 euros. It currently has one to 3 months at 3% APR for clients who have an automated portfolio with an investment of 150 euros. If you do not contract this product, the deposit rate is 2.75% APR. For 6 months and 12 months, deposits offer 2.75% and 2.50%, respectively, to those who have automated portfolios, and 2.50% and 2.25%, respectively, if they do not contract this product.
“MyInvestor wants to encourage clients to put your money to work in automated portfolios because it is a product that adapts to all risk profiles, is simple, transparent and has low commissions. To hire them, it is enough for the client to do a simple test on-line and you will be assigned a portfolio composed of funds designed to achieve your financial objectives,” the bank said. EBN opens the deposit ‘war’ by offering 3.55% for 12 months.
MyInvestor deposits are covered by the Deposit Guarantee Fund in Spain. Up to 100,000 euros can be contracted. The entity directs its deposits to both clients of the entity and new clients and they can be contracted both with money that the client already has in MyInvestor (old money) and with money that comes from other entities (new money).
To hire them, it is enough to have a free paid current account, which can be opened online in a few minutes. This account offers a remuneration of 2% APR up to 70,000 euros the first year, without any conditions. From the second year onwards, clients can maintain the 2% APR by making monthly investments in automated portfolios, funds and plans from the MyInvestor and Finanbest range, and other selected products.
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