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07/03/2013 | Paris

PSA Banque is launching in France its first passbook savings account for retail customers.

Known as Distingo, the new product represents for the Group both a commitment and a determination.

A commitment to giving savers an investment product that offers:

  • A competitive return: with a 5.50%1 guaranteed interest rate over 4 months and a base rate of 2.3%1
  • Security: the principal and interest are guaranteed.
  • No administration fees on routine transactions and no charge for opening or closing the account.
  • Convenience: savings can be deposited and withdrawn online 24/7.

A determination to make Distingo an engine driving the real economy. Deposits will be used exclusively to finance purchases of Peugeot and Citroën vehicles by retail customers from the brands' dealerships.

Philippe Alexandre, Chief Executive Officer of Banque PSA Finance, said, "We are pleased to announce today the launch of the Distingo passbook savings account, the first savings product marketed under the PSA Banque brand. This passbook savings account will of course contribute to diversifying our financing sources, but above all it reflects the Banque PSA Finance's deep roots in the real economy as a bank dedicated exclusively to supporting growth in vehicle sales by the Peugeot and Citroën networks."

 

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1Offer valid for Distingo passbook savings accounts opened between 5 March 2013 and 4 April 2013 inclusive. Promotional gross nominal rate of 5.50% guaranteed for four months, on deposits of up to €100,000 provided the Distingo account is still open as of 31 December 2013. Beyond this limit or this period, a standard gross nominal rate of 2.30% will apply. This rate may be adjusted. Gross rates are before statutory tax and other deductions.  Interest accrues from the first 15-day period following the deposit date. Offer restricted to private individuals aged 18 and over, who are legally capable and are resident in France for tax purposes. Offer valid subject to the completed application being received and accepted by PSA Banque before 4 April 2013, and limited to one offer per passbook and per person. The offer cannot be combined with other Distingo passbook savings account promotions. The general terms and conditions of PSA Banque, a brand of Banque PSA Finance, a French bank headquartered at 75 avenue de la Grande Armée, 75116 Paris.  RCS Paris no. 325 952 224, and the general terms and conditions of the Distingo product are available at www.psabanque.fr.


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