SIGNAL IDUNA Bauspar
Experiences, reviews and information about the provider
Details
Pros
- Statutory deposit protection up to €100,000 per customer
- Belongs to one of the larger German insurance groups
- Building savings, mortgages and fixed-term deposits from one source
- Fixed-term deposit offers also accessible via common interest platforms
Cons
- No membership of an additional voluntary deposit protection scheme
- No current account and no branch network for traditional banking business
- Building savings contracts tie up capital over long terms
- Arrangement fee on the building savings sum that is standard in the industry
Fact sheet: SIGNAL IDUNA Bauspar
| Company name | SIGNAL IDUNA Bauspar |
| Founded | 1930 |
| Headquarters | Hamburg |
| Country | 🇩🇪 Germany |
| Type | direktbank |
| Website | si-bausparen.de |
About SIGNAL IDUNA Bauspar
SIGNAL IDUNA Bauspar AG, based in Hamburg, is the building society (Bausparkasse) of the SIGNAL IDUNA Gruppe. The institution was founded in Berlin on 21 February 1930 under the name Bausparkasse Deutsche Mittelstandshilfe; it has carried its present name since 2002, following the merger of the Hamburg IDUNA-NOVA group with the Dortmund SIGNAL Versicherungen. As a building society, the company is a credit institution and is supervised by BaFin (the German financial regulator). Building society and savings deposits are protected by the statutory deposit protection (Einlagensicherung) up to €100,000 per customer; according to its own statements, the firm has not joined an additional voluntary protection scheme. Besides traditional building savings plans and mortgages, fixed-term deposits are also offered via interest platforms.
Special features
- Founded in Berlin in 1930 as Bausparkasse Deutsche Mittelstandshilfe
- Current name since 2002 after the merger of SIGNAL and IDUNA NOVA
- A building society and thus a credit institution under BaFin supervision
- Cooperation with interest platforms for fixed-term deposit business
