Banca March lifts digital deposit to 2.80% TAE

New Banca March customers can get 2.80% TAE on the bank’s Flexible Avantio digital deposit for 12 months. The offer is available through its digital channels until 31 October. Banca March raised the rate on Thursday, after the European Central Bank increased interest rates by 25 basis points.

The deposit requires an investment of at least 30,000 euros per customer, with a maximum of 300,000 euros. It is only available to new customers.

Early exit cuts the rate

Customers can close the whole deposit early at any time. Banca March says it will return all the money, but the interest rate in that case is 1.51% TAE.

Digital account required

The 12-month deposit requires customers to open an Avantio digital account. Banca March says the account has no maintenance or transaction charges, and includes a free debit card and a personal remote adviser.

Customers who pay in a salary or pension can receive 2.02% TAE on balances up to 60,000 euros. Without regular incoming payments, the Avantio account pays 1% TAE.

Topics: Economy

Source: Europa Press / Mallorca.com