There is more and more liquidity in Italian current accounts, also favored by theforced accumulation of savings during the first lockdown and the uncertainty about the future situation which drives households and companies to park their liquidity in the bank. In fact, Bank of Italy surveys indicate that from the end of February to the end of August, corporate deposits increased by 56,5 billion euro and, in the same period, households increased their availability on bank deposits by 22,7 billion EUR. Again in September, the ABI recorded strong growth in bank deposits (+8% year on year) to 1.682 billion euro (of which 400 billion in term deposits) up by 125 billion.
In this scenario, to help better manage both corporate and retail liquidity Banca Finint has developed a restricted deposit offer called "Finint Online", dedicated to entrepreneurs and individuals, which makes simplicity its strong point. Zero fees, easy to activate and safe to manage, the Finint Online Bonded Deposit can be opened from the comfort of your home, from your desktop, tablet or mobile phone, in just a few clicks. Banca Finint's retail savings product is already available, and joins the Finint Online current account product, which can also be activated remotely, where the interest accrued on the deposit is credited every six months.
How does it work? After filling in on the web page depositoonline.bancafinint.com the request to activate the Finint Online current account and having sent the acknowledgment bank transfer, Finint will confirm the activation of the relationship within a maximum of 48 hours. At this point it will be possible to connect to the reserved area, access the account and independently activate one or more Finint Online Restricted Deposits. How much fruit – The Finint Online deposit offers four constraint options which start from a minimum duration of 12 months to a maximum duration of 36 months, for a minimum of 10.000 euros and a maximum of 500.000 euros. Once the constraint is activated, the interest will be paid every six months, directly to the Finint Online current account.
“The increase in liquidity in bank deposits – he commented Giovanni Perissinotto, Chief Executive Officer of Banca Finint – fits into a context in which consumption is slowing down due to the pandemic. To reverse the trend and restart consumption, there are various tools that can be put in place, first and foremost savings management. It is in this context that we have decided to offer businesses and households the Finint Online term deposit, a simple tool to allow our customers to make use of their liquidity completely online, simply and safely, with an attractive return. With the deposit, we complete the retail offer of Banca Finint which, associated with the world of asset management, makes us one of the most interesting banks for those who need corporate finance or to manage their assets but who, at the same time, want to make profit your savings."
The minimum collection target of the Finint Online deposit for 2021 is 50 million which could rise, if conditions allow, up to 100 million. For the collection targets after 2021, the bank has announced that it will be able to make forecasts in the next strategic plan, which will be presented in the spring. The average denomination of deposits is 35 thousand euros.
