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.
Want to learn more about the Overdraft?
What is an overdraft?
How much money can you apply for?
What is the interest rate?
Need more information?
What are the advantages of this credit?
How can you request your Overdraft?
What is an overdraft?
It is an advance for unexpected circumstances, designed for specific situations where you have insufficient funds or have to make unforeseen payments. For example, if you are expecting a car insurance bill and your balance is too low to pay it.
You can apply for this line of credit if you have a salary of at least €900 or investments in Openbank of at least €12,000.
You can request it in the Customer Area, and it will be available in your account as long as you meet the conditions.
How much money can you apply for?
The amount depends on the requirement you meet:
- If you have your salary paid directly into Openbank.
The maximum amount you can request is equivalent to the amount of your monthly salary, which must be at least €900 and at most €12,000.
- If you have investments in Openbank.
The maximum amount you can request is €3,000. In this case, you must have an average minimum balance of €12,000 invested in savings or investment products.
What is the interest rate?
You will only pay for the money you use and the days you have used it, until you repay it through a payment into your account. If you avoid using the credit, you will avoid paying any expenses.
If you use the Overdraft, we will charge it to your current account every month, but remember that it will only apply to the days and the amount you have used.
The monthly nominal interest rate is 0.64%, that is, an annual nominal interest of 7,72% and an APR of 8%. Interest is only generated if you defer the debt. For example, if you use €500 over 10 days to pay your car insurance, when your account is settled, you will only pay €1.06.
Need more information?
We make it simple. Get in touch with our investment specialists on 91 177 33 10 Monday to Friday from 8 a.m. to 8 p.m. and they'll be glad to help.
What are the advantages of this credit?
- We will instantly lend you money for the unexpected.
- No application or arrangement costs or fees.
- Simple and paperless process.
- You only pay interest on the money you use and for the days you used it.
- €0 in fees if you don't use the money.
- All you need to do is be the holder of an Open Current Account or Open Payroll Account and meet at least one of the following two requirements: (i) have your salary paid directly into Openbank; and/or (ii) hold positions in deposits, funds or securities at Openbank.
How can you request your Overdraft?
It's as easy as clicking here, and it will be available immediately if your salary is paid in directly or have deposits, savings accounts, funds or securities at Openbank.
You can also apply for this credit instantly* through our app using your mobile phone or tablet.
If you would prefer to speak to someone, you can call us on +34 91 177 33 37.
*If you meet the necessary requirements: To be the holder of an Open Current Account or Open Payroll Account and meet at least one of the following two requirements: (i) have your salary paid directly into Openbank; and/or (ii) hold positions in deposits, funds or securities at Openbank.