EnglishIntesa Sanpaolo Bank yesterday announced it is launching a new variable interest rate savings product for retail customers, available both in lei - with an interest rate of 13% - and in Euros with the interest rate set at 5%.
The Intesa Sanpaolo Bank "Accumulation Plan" is a savings account, which allows the accumulation of money while allowing permanent access to the money in the account. Customers can set a monthly amount that they want to save, ranging between the minimum of 40 lei and a maximum of 4,000 lei or a minimum of 10 Euros and a maximum of 1,000 Euros. The monthly amount will be transferred monthly to the Accumulation Plan, on the date selected by the customer.
Furthermore, the Accumulation Plan will come with a bonus in interest rates for customers who use the product for more than one year. The standard interest rate for customers will increase by 0.25% after two to three years, 0.35% after four to five years, and 0.50% after six years of using the Accumulation Plan.
The opening and administration fee for the Accumulation Plan are 0%. The initial balance of the Accumulation Plan can be at most 40 lei and at most 10,000 lei, or a minimum of 10 Euros, and a maximum of 2,500 Euros. Customers are required to have a current account opened with Intesa Sanpaolo Bank before they can benefit from an Accumulation Plan.
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