You must have heard of the new one too promotion tassy of the deposit account Bank of Milan: the institute offers for 2020 a rate of annual interest gross of the 4.00% on amounts tied up for 6 months.
It had been a long time since Banca Mediolanum emerged, with somewhat competitive interest rates, from the sea of rates that were all the same. We are well aware that the general proposal for deposit accounts and the like is currently rather static.
So, if you want to know more about the offer read my article, don’t waste time because the promotion won’t last forever! Below we will see together which customers it is aimed at, when it expires, what the Time Deposit consists of and how to activate it.
Let’s start!
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A few words about Banca Mediolanum
Before going into the analysis of the offer, I want to open a brief parenthesis on the Bank – it is always good to refresh one’s knowledge on the matter.
Everyone knows who Banca Mediolanum is but not necessarily everyone knows its history: back in 1982 it was called Programma Italia and offered insurance products, it then decided to expand its offer in 1997 by dedicating itself to all-round savings. Thus the Bank was born.
Since then it has taken many important steps, becoming the first online bank, listing on the Stock Exchange, creating the figure of the Family Banker, giving life to the Mediolanum Onlus Foundation and the Mediolanum Corporate University, and becoming the parent company of the Mediolanum Group: one of the most solid in Italy, capable of renewing itself in the offer of services to customers.
Let’s spend a few words also on solidity
Despite the normal ups and downs, the Group has one of the highest solidity indexes on its side. The Common Equity Tier 1 ratio in the latest annual report it is 21.1%, above the average of Italian banks.
Furthermore, in the event of bank failure (unlikely) the depositors’ money is naturally protected by the bank Interbank Fund for the Protection of Deposits for a maximum limit of 100,000 euros per customer.
In fact of safety Mediolanum is an excellent choice, and now let’s continue with the analysis of the promotion.
And now let’s get into the matter to find out the bill!
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Selfyaccount: Offer at 4.00%
If you credit your salary you can get 4% gross per annum on amounts tied up for 6 months, but also other advantages:
- Zero account maintenance fee up to 30 years;
- Free account maintenance fee the first year, for everyone;
- Entri in Bank of Milanthe bank most recommended by its customers.
>> Find out more on the Official Website <
Mediolanum account: features and costs
This account is very practical because it provides you with a convenient app to manage the instrument, and offers other advantages:
- the main ones banking operations are free;
- You pay everywhere with your smartphone o smartwatch;
- you can do Trading online in 24 world markets.
But why choose this tool? Let’s see i advantages:
- fee for the first year free, and if you are under 30 it remains free;
- you will have a free debit card to withdraw money in the euro area;
- the app allows you to enjoy numerous advantages and take advantage of the account where and how you want;
- the main operations are free.
Annual cost
As we have seen, for the first year and for those under 30, the account is free.
From the second year, the account maintenance fee is 3.75 euros per month, which can be reset on a promotional basis until 12/31/2023 (in fact, if you take out a loan or a mortgage or a protection insurance product, or if you are the holder assets under management of at least 15,000 euros, for you the fee is zero).
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The map
Opening a current account with Mediolanum costs nothing and you don’t pay the fee for the first year. Also included in the service are the Milan Credit Card at 12 euros a year, and theDebit cardalways free.
Interest rates on bonds
As we have seen, the rate is 4.00% for 6 months.
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How to open the account
However, if you are interested in joining, and you are rightly not yet a Mediolanum customer, you have to go to the Bank’s website and, on the banner advertising the offer, click the “Open it now” button.
You will have to fill in the “account opening request” form by filling in all the boxes with your data. Keep an identity document, your tax code, your smartphone and your email at hand. Remember to read the privacy policy.
Follow her wizard which, step by step, will tell you what to do; at the end you will have to identify yourself and you can do it via webcam, in person or with a bank transfer. The signing of the contract will take place through a digital signature.
Mediolanum deposit account: opinions
We have just seen what the new offer on the Mediolanum account for the sums placed in bond: an interest rate of 4.00% gross per annum on new liquidity bound to 6 months.
An intelligent way in which the Bank intends to reach new customers and convince them to purchase its products. What better way than to offer a competitive interest rate in a decidedly flat panorama of deposit accounts?
The strategy is spot on but let’s see who should join.
When the Mediolanum Account offer is right for you
Given that the promotion has a limited duration and as a rule the gross rates offered by Mediolanum are not that great, those wishing to open an account should evaluate the overall convenience of the service and not just the promotional rate. The free fee for the first year is an important incentive, but then you need to understand if this account is exactly what you need.
The same argument does not apply to those who are already Mediolanum account holders and can directly benefit from the advantageous rate, even if for a short time, and provided however that new liquidity is introduced: a minimum of €1,000 and a maximum of €500,000. The 4.00% offer is certainly an invitation to customers to stay that way, the Bank knows how to reward them from time to time.
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When is it best to leave it alone?
If in fact the Mediolanum account does not interest you and opening a new current account is not exactly what you need, then it will certainly not be the offer “annual rate at 4.00% for 6 months, and free fee for the first year ” to convince you.
The offer is short-lived and the fee will then begin to cost. You will still be able to withdraw from the contract without penalty, when the offer has expired, however if the current account is not right for you it is useless to fixate on the promotion, there are other deposit accounts interesting around.
Conclusions
I hope this review has been helpful to you. Remember that you can use TOP Deposit Account to find and compare the best interest offers on savings accounts currently available. It’s a free service and it’s meant to save you time!
Good continuation on My business!