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Conta Millennium

Your account.

Advantages

  • Credit Facility - 18.1% TAEG (TAEG - Annual Effective Interest Rate)
  • You'll have access to our Loyal Client solution, whereby you will be exempt from handling charges, transfer fees (over automatic channels), issue of 1 group of 5 cheques (over automatic channels), maestro debit card annuities, all for a monthly charge of € 8.
  • Get an advance on your salary (18.1% APR) on the first day of each month. For paid-in salaries of at least € 500. Nominal annual rate: 14.900%. Interest owed will only be collected if the amount is € 0.95 or more.

For an overdraft credit facility up to a maximum amount of € 1.500 fully used for 90 days at a 14.900% TAN, the interests will amount to € 55.89 plus € 2.28 of stamp tax on interests and stamp tax of € 4.74 for the use of the credit, corresponding to a global annual effective rate of (TAEG) 17.8%.

Subject to credit assessment and signature of an independent contract.

Fees and Commissions

Handling Costs:

€ 5.20 / month (if the exemption criteria for handling charges included in our Price List are not met).

Overdraft Fee:

€ 0.95 / month, charged instead of interest owed if it is under € 0.95.

Overdraft facility:

At the account holders' request, subject to the Bank's assessment and approval and to the subscription of an overdraft facility agreement, the Bank may authorize overdrafts with the following generic features:

  • Utilization Conditions: through one or more overdraft withdrawal operations using the means of payment made available by the Bank and/or via permanent or extraordinary transfer orders/payments.
  • Nominal annual rate (TAN): 14.900%, being the interest payable is at least € 0,95/ month (not including stamp duty). For an overdraft credit facility up to a maximum amount of € 1.500 fully used for 90 days at a 14.900% TAN, the interests will amount to € 55.89 plus € 2.25 of stamp tax on interests and stamp tax of € 4.74 for the use of the credit, corresponding to a global annual effective rate of (TAEG) 18.1%;
  • Computation of Interests: Interests shall be computed daily on all the capital used and not paid at any given moment based on an interest bearing period of a 360-day year and a referential of the number of days of each month (current/360). The interests shall be paid at the end of each month of the civil year. Plus Stamp tax on the interests.
  • Repayment conditions: Any amount deposited or transferred into the account shall, when available, be applied and used for the automatic, total or partial, repayment of the credit used, for the corresponding amount. The credit will be made available on the first day of each month of the civil year until the end of that month of the civil year. The Account holder(s) commit(s) to repay in full the credit used until the last day of each month of the civil year.

The Bank may alter the remuneration due to it by force of applicable interest rates and /or fees and /or expenses which shall be published in the Bank's Pricing and communicated to the Clients within the legal deadlines established for this type of situations.

Credit overdraft

Whenever the Customer surpasses the authorised credit limit, the Bank may refuse to execute the order entirely. Hence, the credit limits can only be exceeded if authorized by the Bank, on a case-by-case basis, exception made to the payments mandatory by law, under the conditions and limits established by law. Should the Bank accept the credit overdraft, the following conditions apply:

  • Nominal annual rate (TAN): 17.900%.
  • Computation of Interests: Interests shall be computed daily on all the capital used and not paid at any given moment based on an interest bearing period of a 360-day year and paid afterwards on the 30th day of each month of the civil year. Stamp tax applies to interests.

The Bank may alter the remuneration due to it by force of applicable interest rates and /or fees and /or expenses which shall be published in the Bank's Pricing and communicated to the Clients within the legal deadlines established for this type of situations.

Features

  • For Individuals Customers aged between 61 and 65 years old
  • Minimum opening balance: € 100

The Account enables operations in the following currencies

USD, AUD, CAD, CHF, DKK, GBP, HKD, JPY, NOK, NZD, PLN, SEK, TRY, ZAR

Standardised Information Form foreign currencies.

How can I open an account

To open an account go to any  Millennium bcp branch.

Further questions

What is Salary Reward?

With Salary Reward you can get a 100% advance on your salary/retirement pension on the first day of each month. To access Salary Reward you must pay your salary into millennium bcp.

By paying-in your salary/retirement pension, account holders may, depending on the account plan, be exempt from Handling Costs.

What are its benefits?

You'll have access, once we have assessed your credit capacity and provided authorisation, to an overdraft facility, (drawn in a specific and independent contract) which is secured by holding your monthly income.

The Salary Account also grants you a more favourable interest rate than the one usually charged by the bank for this type of contract, as well as exempting you from an overdraft fee. 

What criteria must I meet to get an advance?

You must pay-in at least € 500 into a Millennium bcp account.

Is the amount held on my salary/ retirement pension always the same?

If your salary/retirement pension varies, or differs from the last paid-in amount, how much we hold is determined as follows:

1- If your last income was 2/3 higher than your next-to-last, the held amount will be the same as the next-to-last amount;
2- If your next-to-last salary/pension was 0, the held amount will be the same as the last amount;
3- If for 2 consecutive months there are no salary/pension pay-ins, you will no longer be able to use the overdraft facility. You may start using it again once you've resumed your salary/retirement pension pay-ins

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