Openbank gives away up to 1,000 euros if your friends take out a mortgage

Banking continues to be a key piece in your business. Hence, the mortgage wars are continually reignited. Now it has been Santander, through its online subsidiary Openbank, the bank that has started a campaign to improve its share of mortgage loans.

Openbank will give its clients 100 euros for each friend or relative who contracts a mortgage with the entity. The campaign is called Invite a Friend. These new customers, in addition, will take 300 euros.

You can invite up to 10 friends, with which you can receive up to 1,000 euros, according to the bank explains in its offer, which began last Monday and ends on June 30. The interest rates of these mortgages range from an APR of 1.50% for a fixed mortgage for a term of up to 15 years, or an APR of 2.15% at a variable rate, or 1.25% for the mixed mortgage . This is the first offer of its kind made by a bank on mortgages.

Openbank is now in full international expansion and growth. Its parent, Banco Santander, has just injected 169.98 million euros into Openbank to underpin international expansion plans, according to the Official Gazette of the Mercantile Registry (Borme).

With this capital increase, the total amount subscribed by the bank in Openbank amounts to 365.23 million euros. The entity intends that this unit continue to grow in business volume and consolidate the international expansion process that is underway.

Santander recently started the strategic process to launch Openbank in the United States and confirmed its intention to start operating in Argentina before the summer. The jump to Argentina, where it obtained the banking license in July, will materialize in the first semester, initially in a friends & family format, as has already been done in other countries. Santander’s strategic plan included Openbank’s entry into 10 new markets. It already operates in Spain, Germany and Portugal and before summer it will also do so in Argentina.

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