CA Auto Bank launches its time deposits in Austria, the Netherlands and Spain
CA Auto Bank is entering the rapidly growing market of deposits with agreed maturity. This type of savings is becoming increasingly popular thanks to higher interest rates and the certainty of a fixed return for the entire term.
- CA Auto Bank’s new time deposits for tax residents in the three countries have maturities of 6, 12, 24, 36, 48, and 60 months, each offering competitive interest rates.
- Customers can open and manage their deposits online through the platform of Raisin, a partner company operating in the EU, UK, and US.
CA Auto Bank‘s international expansion in daily banking continues, especially in the time deposits market, which have become increasingly competitive in recent months, due to rising interest rates and robust product innovation. As a member of the Crédit Agricole Group, the tenth largest bank globally and the foremost in Europe in terms of retail customers, CA Auto Bank is launching its time deposits in Austria, the Netherlands, and Spain. These three countries join Italy and Germany, where the Bank has long been offering these products.
Designed for individuals who are tax residents in Austria, the Netherlands, and Spain, the new time deposits are available for terms of 6, 12, 24, 36, 48, and 60 months, providing competitive interest rates.
CA Auto Bank is entering the rapidly growing market of deposits with agreed maturity. This type of savings is becoming increasingly popular thanks to higher interest rates and the certainty of a fixed return for the entire term.
These time deposit can be opened and managed entirely online, facilitated by a partnership with Raisin, a company operating in the European Union, the United Kingdom, and the United States. Through Raisin’s digital platform, residents of Austria, the Netherlands, and Spain can explore CA Auto Bank‘s time deposits and conveniently open the one that best suits their financial needs.
CA Auto Bank’s time deposits is the ideal solution for personal savings, with no opening, management, or closing fees, and the possibility for renewal at maturity through the user area. Moreover, savers are exempt from withholding tax on savings interest from Italy. The minimum deposit amount per individual customer is €10,000*, while the maximum is €100,000. At maturity, customers will receive their initially invested capital along with the agreed interest.
“We have been active in Austria, the Netherlands, and Spain for years with our vehicle financing products. Today we are proud to announce the launch of our time deposits, alongside our partner Raisin. Through their platform, customers can explore CA Auto Bank’s offers and conveniently open the one that best suits their financial needs. Our time deposits – also present in Italy and Germany – have proven highly suitable for customers’ savings requirements, thanks to the Bank’s soundness and transparency” said Giacomo Carelli, CEO and General manager of CA Auto Bank.
CA Auto Bank is an international banking group with operations in 19 European countries and a subsidiary of Crédit Agricole Consumer Finance. The Bank is a key player in vehicle financing and leasing, and the mobility sector, collaborating with more than 50 prestigious brand partners.
*starting from January 29th, 2024 the minimum deposit amount is 20,000€
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