Peace of mind
No fees or charges
Pay only when you use it
- No arrangement or application fees.
- Easy access to extra money. The amount approved will depend on your salary, savings and investments at Openbank.
- Only pay interest on the amount drawn and for the days you have used it. If you don’t use it in the end, it won't cost you anything! For example, if you use €500 over 10 days, you will only pay €1.06 for the month.
- Annual NIR of 7.72% (8.00% APR2) will be charged at the time of the monthly settlement of your account, provided you have used it.
- Apply for it online and it will be available immediately1.
- It will be available for one year and renews automatically, provided that there are no changes in your circumstances.
1 No contract will be signed. The line of credit is subject to analysis and approval by Openbank, provided that the following requirements are met.
You must be the holder of an Open Current Account or an Open Payroll Account and meet at least one of the following two requirements:
- Salary is paid directly into an Openbank account; and/or
- Have positions in deposits, funds or securities at Openbank.
2 The annual nominal interest rate (NIR) is 7.72% (8.00% APR). We will settle it in your current account each month at the same time as the monthly account settlement. For example, if you use €500 over 10 days to pay for your car insurance, when your account is settled, you will only pay €1.06 for the interests; therefore, the total amount of the loan would be €501.06.