BBVA - Press Room

The Bank to launch a broad range of financial solutions to help individuals and the self-employed in the current environment

For two years, BBVA will pay for inflation adjustments on the mainbills on direct debit, including financing on preferential terms

• BBVA is to offer its customers the most flexible mortgage on the market, extending to payments and all the other loan terms and conditions
• The Bank offers the most comprehensive range of savings products on the market, combining capital guarantees with immediate liquidity at competitive returns
  

BBVA plans to give customers taking out a mortgage with the Bank, and those switching existing mortgages from another entity, €200 a month for the first year. The goal of this promotion is to help customers cope with the increase in interest rates. BBVA has also unveiled the ‘CPI Payroll Account’, another innovative package of solutions targeted at existing and new customers of the Bank, who, in exchange for domiciling their salaries will receive payments during a two-year period to cover the impact of increases in CPI on their main direct debited bills. This campaign is fleshed out with the launch of a full range of savings products, combining guarantees on capital invested with immediate liquidity at highly competitive returns.

Today BBVA announced, leveraging its position of financial strength, a raft of products and services designed to provide the best financial solutions in response the needs of families and individuals against the backdrop of the current economic crisis. Under the slogan ‘Everyday you ask us for something different, every day we are a different bank’, the campaign encompasses compelling financing and savings oriented solutions tailored and personalized to each situation.

BBVA mortgage. The main features of this solution for facilitating the purchase of a home are as follows:

• BBVA is launching a mortgage under which it will give customers taking out a mortgage with or switching an existing mortgage to the Bank €200 a month for the first year
• The monthly payment will be credited to customers’ accounts on the same day as the mortgage payment is debited and the customer will also receive assistance in coping with the rise in interest rates
• The €200 monthly payment is conditional upon a transaction life of at least 15 years and the on-time payment of installments
• The offer is targeted at new mortgages and switches of existing retail mortgages from other entities for a minimum amount of €120,000.
  

In addition to the €200 monthly payment, the BBVA mortgage is one of the most flexible on the market in terms of structuring payments and all the other applicable terms and conditions.

• Mortgage holders can postpone payment of up to 30% of the loan until the final installment
• They can also postpone payment of up to two installments per year, up to a maximum of 10 over the life of the loan and can take out the mortgage at a fixed rate over 25 years or, if they prefer, switch from fixed to floating or vice versa.
  

BBVA CPI payroll account. Also designed taking family considerations into account, with a view specifically to reducing the impact of inflation on household finances, BBVA is launching its CPI Payroll Account, an innovative campaign targeted at customers who choose to domicile their salaries or pension plans with the Bank. The differentiating features of this product are:

• For 24 months, BBVA will pay for inflation adjustments on the main bills on direct debit, including electricity, gas, fixed and mobile phone and pay-TV bills
• The Bank will credit customers’ accounts for an amount equivalent to the official rate of inflation published for the month – the rate corresponding to the immediately preceding month – applied to the aforementioned bills, up to a maximum of €20 per month
• BBVA customers who have already domiciled their salaries and pension plans are also entitled to sign up for this ‘Inflation-Adjusted Payroll Loyalty’ Campaign
• Should customers later become beneficiaries upon losing their jobs or retirement, they will continue to receive this payment
  

In addition to the payment, signing up for this campaign brings additional benefits for the customer such as:

• Exemptions from commissions and fees on account transacting, money wires and check lodging
• Receipt of the Credit Card 10, free of charge
• Possibility to obtain advances on salaries on preferential terms
• Consumer loans of up to €60,000 and 10-years at subsidized rates
• Access to the high return ‘Payroll Deposit’ account
• Discounts of 10% on insurance policies
  

The most comprehensive range of savings products. The raft of solutions for families and individuals unveiled by BBVA today is fleshed out with a comprehensive range of savings products with combine guarantees on capital invested, a highly sought after feature among savers in today’s market, with full and immediate availability of funds on deposit and at highly competitive rates.

This range runs the gamut of traditional deposits, tailored to customer requirements in terms of maturity and settlement of interest payments and also in terms of rate structuring – fixed rate or scalable rates by tranche -, extending also to guaranteed funds, a segment in which BBVA is market leader with a share of 30.8%.

The Bank also offers a complete range of mixed savings products. In November the Bank began marketing the ‘BBVA 7 Plus Double Deposit’, a product in which 50% of amounts invested are placed in a 12-month deposit account at a guaranteed APR of 7%, with the rest placed in a 36-month deposit where the returns are linked to the equity performance of BBVA, Iberdrola and Repsol.