Bankinter : begins pension plan campaign with up to 4% cash back for transferred plans

Bankinter is already starting its pension plans campaign. From now until 31 January, the bank will reward customers who transfer pension or voluntary social welfare (ESPVs) plans from other financial entities with 4% cash back on the total savings amount they transfer.

This offer will stand for three months, well after the end of the year and throughout the month of January. Cash rewards will be credited to customers' accounts on 28 February.

For pension plan transfers of more than 60,000 euros, cash rewards will amount to 4% of the gross transferred amount. With this campaign, the bonus limit per customer will be increased from 5,000 to 7,000 euros.

For balances of between 30,000 and 60,000 euros, the incentive will be a gross 3.40% and 2.30% for pension plans of 1,000 and 30,000 euros.

Bankinter has stipulated a minimum commitment period of six years as a requirement. During this period, if customers redeem or transfer their pension plans, they must bear the penalty of returning the amount of cash reward.

In May, Bankinter launched another incentives campaign for pension plan transfers in order to de-seasonalise customer contributions toward this type of retirement savings.