Monday, October 14, 2013

What are the best internet banks in Spain ?

The introduction of Internet in all socio-economic sectors , especially in banking, it is a fact , so that in recent years , banks have been developing and improving their internet banking services . This article describes four Spanish institutions whose products and conditions of the most profitable are above average.

What makes an online bank ?

As the name suggests , an online bank is one that allows us to perform the same operations from the internet , just as if it were a physical office , for example , make a request as a new customer , contracting products , make transfers , check movements etc. .

Most companies also offer online banking service , but previously associated with products purchased in branch , and do not usually offer a 100% operation , for example, when hiring new products, add headlines to an account, apply early termination , among others.

As a result of cost savings related to staff in offices , rent , maintenance, etc. . This benefit is usually passed on to customers , either in the form of commissions or products with better conditions, and then describes four of the top rated Spanish banks regarding commissions , customer service and profitability of their products.
Tubancaja , Ibanesto , Self Bank and Activobank

Tubancaja is the virtual office of Bancaja , operates fully autonomous and offers all kinds of products, from accounts, deposits or cards, to mortgages and pension plans . It is characterized by the absence of fees on your bills, issuing or renewing their cards and time deposits , with yields reaching 3.75 and 4 % between one and two years, and after their integration into the Bankia group , allows withdrawals at ATMs of the 7 group entities, without cost , and logistical support of the physical offices of Bancaja.

Ibanesto , just as is the online office of Banesto , offering a wide range of products, called " blue " with interests around 3.60% , and no fees of any kind on your bills , cards , transfers, etc. . Offering to complement physical branch network .

Self Bank is another Spanish company , owned by La Caixa and Boursorama , highlighting its bearing accounts based on the Euribor and American Express credit card in case of household payroll with them, and offering a discount of 1 % on purchases made. In this case , allow withdrawals to debit ATM network of La Caixa .

Lastly, online brand Activobank is Banco Sabadell Group , characterized by the absence of fees, and deposits with interest between 3.80 and 4.20% , as most striking products .

Caja Madrid , key benefits by household payroll

Most banks offer benefits to the household payroll , pension or social insurance with them , either in the form of bonuses, commissions absence of accounts or cards, or advantageous terms on certain products such as loans or mortgages. This article summarizes the most important benefits are achieved at household incomes in this case Madrid.

Strategies to capture debit entities

Most banks and savings banks in Spain offer bonuses or advantages household when any regular source of income ( payroll, pension or other regular delivery ) as removing commissions maintenance of accounts , cost of national or EU transfers , issuance of debit and credit cards , depositing checks , etc. . along with other benefits such as discounts on interest rates for loans or mortgages , improved compensation time deposits or gifts or giveaways of products.

The following section describes the main benefits enjoyed by customers who arrange their profits at the offices of Caja Madrid.
Advantages of household payroll Caja Madrid

Are summarized below , the 7 major benefits associated with income assets in the bank :

    Possibility of Deposit Payroll / Pension a term deposit for 12 months with quarterly interest payments at 2.5 % , distributed the first quarter savings pays 3% nominal , the second and third to 1.95% and the last period , to 3 % again . Should have the funds before the deadline, are paid half a point less.

    Rebate of 0.8 points in the applicable rate on the mortgage , including a home insurance or pension plan , credit cards and debiting household bills , with a maximum duration of 40 years , up to 80 % of the appraised value , possibility of half yearly review of interest and ability to enjoy a fixed interest rate during the first 5 years .

    Discount of between 5 and 25% in home insurance , contracted with the company Mapfre Familiar , during the first 5 years of operation.

    Free accident insurance , with a maximum coverage of up to 9000 euros.

    Free service to mobile messaging to communicate movements made ​​and no maintenance fees in the current account .

    Possibility to apply for a personal loan on preferential terms to 60,000 euros and return within 8 years .

    Finally , overdrafts allowed after payment of receipts, up to 70 % of payroll (maximum 600 euros ) .

What characterizes the best Spanish banks ?

Here are the main characteristics that have the best Spanish banks and, possibly , are the reasons for its success.

Spanish Banks

This article will make reference to the Spanish banks and top to be include in this group will be precious Banco Santander and BBVA , as financial institutions are better positioned in its sector, and come from Spain .

It will refer to the boxes , because after the restructuring that has occurred in Spain ( 2011 ) , it is difficult to make a clarification on the best .

Even if you had to pick the best cases , it would be a very difficult task because of their political influence and have had poor results in recent years.

As external influence , we must mention the support they have received these two financial institutions by the Bank of Spain , which has helped them reach the pinnacle of success .

The top two Spanish banks , Santander and BBVA , have an essential feature that characterizes internationalization.

They are financial institutions throughout his career, have been looking for business opportunities anywhere in the world , and when found , have dared to take your business to that place.

These two financial institutions operating all over the world, either under their own brand, or having acquired other financial institutions or companies autochthonous of where we want to internationalize.

In addition to this essential note , we should mention the solvency , because here we are talking about some of the most solvent banks in the world, and this is a very important for success .

Banks and financial institutions must be able to convey confidence to your customers, and solvency is one of the essential characteristics to demonstrate that trust.

And finally , achieve success can offer customers better terms than other financial institutions so that they can attract more customers, you can feel very satisfied with the conditions offered for deposits , cards , loans, or any other operation that can recruit with the financial institutions mentioned.

Guide the top 5 banks and financial institutions of Spain

The Spanish financial system has a number of institutions (banks , savings banks and savings ), ensuring proper intermediation between savers and those who need financing. Here are the top 5 banks and financial institutions of Spain according to objective criteria such as assets , profitability, etc. .


There are three main groups of credit banks in Spain , dedicated to mediate between the resource providers ( savers) and those demanding these resources (borrowers ) : banks, savings banks and credit cooperatives .

Such entities must obtain government authorization to operate, their activities are subject to strict regulations and are under the supervision of the Bank of Spain . All this in order to ensure the protection of public resources and the stability of the national financial and monetary system .

It should be noted that there are also other specialized financial companies specifically in a particular activity , such as leasing , investment funds , insurance , factoring and confirming , and pension funds , which are also supervised by the State .

Although in Spain there are more than 80 banks and savings banks , 5 of these institutions stand out over other .

It has produced a ranking of these parameters based on certain objectives mentioned below:

    Credit rating awarded by an international rating agency , Moody 's, which measures the risk of the bonds issued by the bank or box.

    Total assets , which includes both public deposits as equity of the entity.

    Attributable profit , ie net profit after taxes and other deductions.

    ROE ( returns obtained by the company for the money of its shareholders ) .

    The delinquency rate of loans and the percentage of coverage of such delinquent loans .

    Number of employees and offices.

All these data are referred to the December 31, 2010 , according to publicly filed annual reports for each institution.
Ranking of the top 5 banks

1 - Banco Santander Central Hispano ( BSCH ) . Not only would be in first place in Spain but it is also the third largest bank in the world when compared to results.

Has a credit rating of Aa2 , its total assets were € 1.21 trillion ( million million) , and had an attributable profit of € 8.181 million . Its ROE was 11.80 % per annum , the rate of delinquency is 3.55 % and has a coverage ratio of 73% .

Your workforce is 178,869 people with 14,082 branches in different countries (plus Spain , especially in Latin America and the United Kingdom).

2 - Banco Bilbao Vizcaya Argentaria (BBVA ) . Also with Aa2 credit rating , the same as the Spanish State , with assets of € 582.738 million and net profit attributable € 4.606 million .

Its ROE was 15.8 %, with an NPL ratio of 4.1 % and a coverage ratio of 62% . This bank has 104,000 employees in 30 countries , with 7,361 offices .

3 -La Caixa . This savings bank based in Barcelona is the only in its class to Aa2 credit rating , has assets of € 285.724 million , net profit attributable € 1,307 million . Its ROE was 9.3 %, a 3.71 % default rate and 70 % coverage ratio . It has over 53,000 employees and 5,400 branches .

4 - Caja Madrid Baa1 rating , the lowest of the 5 , € 186,500 million in assets, € 256 million attributable profit , 5.43 % default , 15,000 employees and 2,170 offices .

5 - Bank, with credit rating of A2 , 142.000millones € in assets, € 590millones attributable profit , ROE of 7.13 % delinquency rate of 5.27 % and 59.14 % coverage , 14,252 employees and 2,224 offices .

Mortgages Caja Murcia : pros and cons of their mortgage

The search for a mortgage is not an easy task , however , due to the wide range of both cartons and mortgage banks, you can choose a product that proves financially acceptable and report savings in repayment . For cash mortgages Murcia, below , features, advantages and disadvantages.

Features mortgages Caja Murcia

Caja Murcia has several viewable from mortgages .
Their products have a number of common features shown below.

Common features of their products.

    Caja Murcia mortgages only cover 80 % of the appraised value of the property .
    Whether you choose a fixed rate mortgage as the interest rate, the maximum period of years to extend the loan is 30 years .
    The Initial Interest Fixed offers the possibility of maintaining two to three years the agreed fixed rate and then be managed as a variable interest , renewable annually.
    The box offers the possibility of moving some capital , either by reducing the period of the mortgage with the same monthly fee or monthly reducing but keeping the time for completion .

Types of products: pros and cons

The Armored Fee Mortgage .
Pros: Allows pay the same monthly fee for the life of the mortgage. The change would be at the end of the mortgage term .

Cons: Please note that the interests in the long run could be higher than in other types of mortgages.

Mortgage self-promoter .
Pros : If what you want is to remodel the home, this is the best choice among their products , allowing even build a house and mortgage it plan . In this product you can choose the interest rate variable or fixed. The company distinguishes the period in which built his house and the period in which it has already completed.

Cons: Under construction not pay the full credit, but only what the work demands . After the work is paid monthly interest that will grow the 2, 3 and 4 percent annually as the interest rate chosen.

Extra Mortgage .
Pro: Extra Mortgage is associated with the customer relationship with the entity. Which means that if you have hired several products with box is easier that give this credit. The interest rate would Euribor plus 0.75 % spread , with a commitment fee of 0.25 %.

Cons: The downside is that it is not viable unless the contracting client with the entity, or the chances of acceptance are greatly reduced.

Thursday, October 3, 2013

Requirements to obtain funding for a laptop

With Advance loan program , promoted by the government of Spain , the purchase of computers through a bank loan has become a common event . However, you must meet the conditions for each case. The following explains the requirements to obtain funding for a laptop .


The Official Credit Institute (ICO ) provides a loan through its collaborating entities (which are the vast majority of banks and Spain ) for the purchase of a computer, either desktop or laptop , new or used.

A total of 61 banks and collaborators , including Santander , BBVA , La Caixa , Caja Madrid and Unicaja , to name a few.
Requirements and conditions

To qualify for this type of financing is required , first, to be between 18 and 35 years and be a university student ( the mode is called " youth and college ") or , if it is older , be a resident in Spain ( mode " digital citizenship ) .

Second, you must have an internet connection or commit to hire her. The connection can be of any type whenever Broadband : ADSL , cable , satellite, mobile phone , etc. .

Must be submitted , within four months following the granting of the loan, the proof that this has been invested in the purchase of computer and accessories.

The funding includes the purchase of office software , antivirus, electronic card reader , peripherals and high internet connection .

The maximum financing is 3,000 euros , to pay in five years , not a credit without interest, as it has an effective annual rate of 2.171% .

Taking into account that , for example, a laptop HP 15.6 "Pavilion G6- 1070ss Intel Core i3- 380M , in costs € 549 , or higher range , as the Macbook Pro MC723Y / A, has a price € 2,149 in , ( price July 19, 2011 ) , the maximum amount seems more than enough .

Moreover, as noted above , since the funding is granted through banks and , they require the demonstration of the ability to pay the loan by the applicant , as their payroll or proof of income .

If not available , require a guarantor , which in turn shall submit such revenues . The specific precautions depend on the policies of each financial institution .

However, using a simulator of loans, such as Todopr√© , we see that if requested the maximum loan of $ 3,000 , for example , the monthly fee would be € 52.81 .

If only the applicant or the guarantor demonstrate a monthly income of 261 € or more for any entity granted the loan ( the monthly fee should be no more than 20% of revenues) .

( Conditions to July 19, 2011 ) .

In conclusion, this is a very easy to obtain credit , with very few requirements both substantive and related to the applicant's income .