After recovering the remuneration from your Orange Account, ENG has decided to enter the battle for the deposits. The orange entity expands its proposal for savers and has announced the launch of two fixed terms for all its clients.
Specifically, as of this Wednesday, November 23, it offers a return of 0.60% APR at 12 months and 0.85% APR at 18 months. There is no minimum amount and the maximum is 100,000 euros. The product allows you to recover the money at any time without penalty, without costs or commissions. In addition, if the redemption is made before the maturity date of the deposit, no interest rate will be applied, the entity explains in a statement.
“With this new launch, the company advances in its strategy so that more and more people trust ING to be their bank and responds to one of the main suggestions and demands of its customers,” they say in the note.
The launch of ING deposits comes two months after the entity announced that it was remunerating its Orange Account at 0.30% APR after several years of interest cuts due to the zero-rate policy. The move became effective on November 1. In addition, the entity also eliminated the balance custody commission of 10 euros per month for having more than 30,000 euros.
In Spain, the returns on deposits have been improving due to the rise in interest rates by the European Central Bank (ECB), which has already raised them three times since last July to 2%. Until now, neobanks and foreign banks were the most active in launching increasingly attractive offers. But some more traditional entities are beginning to enter the fray beyond remunerated or payroll accounts.
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