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The Facto Account has positioned itself as one of the best tools to improve customer savings through a simple product to contract and with the lowest level of risk (1/6 according to the risk traffic light, with 1 being the lowest risk and 6 the highest). One of the main characteristics of this bank account is that it is presented under a double contracting model. On the one hand, a checking account and on the other a high profitability deposit which significantly improves the average levels of remuneration offered by these financial instruments today. Developed by Banca Farmafactoring, an entity that operates throughout the national market.
One of the incentives for contracting El Depósito Facto is that clients will be able to improve the weak profit margins presented by other entities. Specifically, this innovative account offers an interest rate of up to 1,25% APR *. But with a notable particularity with respect to other term deposits and that is that in this case it is the users themselves who choose the exact expiration date. To be able to direct your financial contributions to 12, 36 or even 60 months, depending on the profile they present as small and medium savers.
All this, in a scenario like the current one, where the average Spanish interest on term deposits over one year is 0.13%, according to the latest data published by the European Central Bank (ECB) on the fixed-term interest generated by these savings products. From this dynamic, the deposit subscribed through the Facto Account will improve the interest it provides to bank users by just over one percentage point. To the extent that it has been selected by the Rankia Awards as the Best deposit of 2017.
De facto account: online contracting
Another of the hallmarks of this banking product is that 100% can be contracted online and without the need to queue or rush in case the bank closes. In other words, all deposits linked to this account can be conveniently subscribed from home or from elsewhere. At any time of the day and knowing from the beginning what will be the profitability that will be obtained on the savings deposited.
The De Facto Account considers an annual nominal interest rate of 0.20%, with monthly interest settlements that are made the last day of every month. Another of its most relevant contributions is that it is exempt from commissions for its administration or maintenance.
The Facto Deposit is one of the best paid today and with the additional advantage that it has the security and guarantee of the Deposit Guarantee Fund. Because in effect, the Pharmafactoring Bank, issuer of the product, is attached to the Italian Deposit Guarantee Fund. In practice, this means that depositors will recover hasta 100.000 euros por depósito y client in case of any banking incident.
How to open a Facto Account and make a deposit?
If you are looking to be the owner of this savings product, you will not have many problems to carry out the procedure and it will take you a few minutes to formalize the contract. As we previously indicated, its opening is absolutely online. This means that all requirements must be formalized. from your personal computer, tablet or smartphone. A través de un proceso muy sencillo para cualquier Username de banco que se desarrolla en los siguientes tres pasos que te vamos a aclarar a continuación:
- Complete the form that you will find on your web portal in which you must expose the personal information more basic. As with other accounts and term deposits.
- To sign the contract, already be en formato online o tradicional, para que de esta dinámica se agilice el procedimiento para ser propietario de este producto bancario en un corto espacio de tiempo.
- And as the third and last part of the procedure there will only be manage it, both the account and the deposit, from your technological devices from this precise moment. To this end, to activate the account you must make a transfer from any other account you have in another entity to your Facto Account. Once the account is operational, you can make the Facto Deposit with the amount (between € 10,000 and € 3,000,000) and the term that best suits your needs (between 3 and 60 months).
Calculate total profitability
For an amount of 10,000 euros for a period of 60 months, some gross interest of 625 euros. Because in this case, the interest rate that will be applied to you will be the maximum, 1,25%. In spite of everything, the interest margins will not always be the same since they will grow progressively depending on the term of permanence you choose. Whatever the case, they move above the average, between 0.25% and 1.25%.
The shortest deposits, for example at 12 months, are those that originate the least interest (0.75%), while if the term is extended to 36 months, the yield rises to 0.90%. On the contrary, to get the maximum amount it would be necessary to choose a period of 60 months. With some of the highest interests of the national banking sector.
Things to pay attention to before hiring a deposit
- TO greater flexibility so that you can adapt to all the scenarios generated by your domestic economy.
- Look for a type of interest above what is marked by this class of banking products.
- Exempt from other expenses in their hiring, both in administration and maintenance.
- Look for the return on savings in advance so that you can get liquidity before its expiration.
Conditions of this initiative
The terms to which the economic contributions are directed range between 3 and 60 months. With a minimum contribution of 10,000 euros, in what is one of the most powerful offers for individuals that the banking system presents. Whatever the case, if there may be something new for which this product stands out, it is because they are carried out with interest payments every 90 days. So that from this dynamic you can enjoy the profitability of saving in advance. Without having to wait for their maturity, as is the case with a good part of the term deposits that are available in the current bank offer.
It is an alternative to increase savings little by little and that is achieved safely and guaranteed. Whatever happens in the financial markets, depositors will have the assurance that the interest generated by this product will go to the savings account. Without any type of links, nor with the need to contract other financial instruments. Channeled through online formats so that its agility is another of its most relevant common denominators. Along with the profitability it offers to the savings of customers.
* APR of 0.25% (0.25% TIN) for a 3-month deposit, APR of 0.75% (0.75% NIR) for a 12-month deposit and APR of 1.25% (1,25% TIN) for a 60-month deposit. From € 10,000 and with settlement every 90 days. Offer for individuals.
