Novo Banco, SA provides products and services in the areas of retail banking, corporate banking, insurance. The range of products offered by Novo Banco, SA includes current accounts, debit cards, credit cards, prepaid cards, savings accounts, time deposit accounts (0.00 - 0.00 %), investment funds, consumer loans, car loans, mortgage loans (2.28 - 2.28 %).
Opening an account with Novo Banco, SA can be done by performing the following steps: completely online.
Novo Banco, SA requires the following documents to open a personal bank account: passport; proof of address; employment details; application form.
While opening a bank account Novo Banco, SA has to perform KYC procedure and comply with AML requirements. KYC procedure usually includes obtaining the information about customer identity, residential address, current occupation and source of income. KYC checks performed by Novo Banco, SA and the documents used are outlined below.
Novo Banco, SA may require additional documentation or information depending on the case.
Novo Banco, SA performs identity verification using video call.
Products and services offered by Novo Banco, SA are available at its branches and via its online banking system, mobile application.
Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).
Novo Banco, SA offers the following time deposit accounts.
Updated on 12 July 2020
Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.
Deposit Guarantee. Time deposit accounts made with Novo Banco, SA are covered by deposit guarantee scheme of Portugal up to 100,000 EUR per depositor.
Withholding Tax. Interest income gained on time deposit accounts by non-residents of Portugal is not taxed. Interest gained on time deposit accounts by residents of Portugal is taxed at 25.00% rate. When the interest is paid, this tax is automatically withhold by Novo Banco, SA from the time deposit account.
Mortgage loans are secured loans used for real estate financing purposes (for example, purchase of a new or existing property, construction of an own property, property renovation) without paying the entire value up front. A mortgage loan is secured by the collateral of specified real estate property and is repaid in installments. Mortgage loans offered by Novo Banco, SA are shown in the table below.
Updated on 12 July 2020
purchase of own permanent home
purchase of land
purchase of second home
non-resident house purchase
Portugal: This product is offered to Portuguese residents only. When clicking on the product link you will be redirected to the product page in Portuguese.