Banca March launches Avantio 12-month Flexible Deposit with a yield of 3% APR
27 February 2024 Category: Products
- The product, designed for new digital customers, offers one of the highest interest rates on the market and allows early cancellation at any time with a return of 1% APR.
- It can be opened until 12 April through the bank's online channels, with a minimum deposit of EUR 10,000 and up to EUR 2,000,000.
- With this move, Banca March strengthens its portfolio of savings products aimed at digital customers with prudent profiles but who do not want to forgo returns.
Banca March has launched the new Avantio Flexible Deposit, an exclusive product for new digital customers with prudent profiles who do not want to forgo returns. As well as offering a 12-month interest rate of 3% APR, one of the highest on the market, it allows early cancellation at any time with full repayment of the money and an interest rate of 1% APR.
This new deposit has a maturity of 12 months, without renewal. The minimum contribution per customer is EUR 10,000 and the maximum is EUR 2,000,000. The Avantio Flexible Deposit can be opened through the bank's digital channels until 12 April or until the issue volume is full.
For digital customers only
The Avantio 12-month Flexible Deposit requires the opening of the Avantio digital account, recently launched by Banca March. The Avantio account has no fees, no maintenance or transaction fees, and provides its holders with a free debit card and a personal remote manager. This account offers an attractive return of 2.53% APR when arranging for the direct deposit of your salary or pension for a maximum balance of EUR 50,000. This means that a customer who has their income deposited by direct debit and maintains this maximum balance would obtain EUR 1,250 gross in interest in one year.
The Avantio account is designed to meet the needs of the bank's online customers, as well as to facilitate daily savings without the need to carry out other formalities or operations, offering a return of 1% APR if there are no regular direct debits.
According to Miguel Corredoira, Assistant Deputy Managing Director of Banca March and Head of Business Development: “With this new deposit we reinforce our bank's commitment to digital channels, while providing our new customers with the possibility of saving with attractive returns, without compromising their money and without the need to carry out complicated procedures. At Banca March, we believe that our solvency is our best selling point, and we love to offer products that combine our latest advances in digitalisation with the personalised advice that has always set us apart".
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