Spain’s Bankinter has launched a campaign for pension plans ending by the end of July, aimed at encouraging the transfer of pension plans from other financial institutions to the bank in exchange for a cash payment.
Bankinter’s summer campaign seeks to decentralise the distribution of a product that normally receives most of its suscriptions in the last months of the year.
For pension plans’ transfers above €60,000, the client will be paid 3.25% gross of the amount transferred, with a maximum bonus limit of €5,000 per client.
For those transfers between €1,000 and €60,000, the cash bonus will be 2%, or 3% if the client agrees to pay regularly €100 a month.
Customers transferring between €8,000 and €60,000 while allocating that money in an investment portfolio delegated to pension funds, will receive 3% of the money they transferred.
Those clients who already have their pension plan in Bankinter, can also join the initiative by making a contribution of more than €3,000 before the 31st of July, for which they will receive €50. All these bonuses will be made on 31 August 2018.
Bankinter has established a minimum period of five years, during which the client can always redeem or transfer his pension plan , although it will be penalised with the refund of the amount paid.