CaixaBank's Portuguese subsidiary opts for growing mortgages
It offers a quota that increases by 1% each year in a highly competitive market to attract customers up to 35 years old.
BPI, a subsidiary of CaixaBank in Portugal, has launched a new mortgage product with a fixed interest rate and increasing monthly payments. The mortgage starts with a lower monthly payment that increases by 1% each year, with an initial annual equivalent rate (TAE) of 5.8% that can be reduced to 5.1% with certain conditions. This product is aimed at attracting young customers, aged up to 35, who are struggling to access housing due to high property prices.
BPI's parent company, CaixaBank, aims to offer families predictability in their financial decisions and reduce their exposure to interest rate volatility. The product is part of BPI's strategy to reinforce its fixed-rate offer.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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