Nalo Referral: One Quarter of Fees Waived, up to €500
One quarter of management fees waived for referrer and referee, up to €500 each
The Nalo referral, branded Nalo Ambassadeur, waives management fees for both the referrer and the referee over a full calendar quarter, worth up to €500 each depending on the referee's first deposit. Nalo is a French ETF-based managed investing service, offered through a life-insurance policy (Nalo Patrimoine) and a retirement savings plan (PER Nalo). Conditions recorded on nalo.fr on 28/07/2026.
Who it's for and when
Nalo targets savers who want market exposure without picking their own funds, with an allocation built project by project rather than a single risk profile. The referral takes an unusual form here: it is not a cash bonus paid into an account, but a management-fee waiver. Its real value therefore depends on your balance: the larger your portfolio, the more a fee-free quarter is worth.
How to get it, step by step
- Be a Nalo client and open the Referral tab in your client area
- Copy your personal referral link, or invite someone by e-mail from that tab
- The referee runs their simulation and subscribes to a Nalo plan via the link, within 3 months
- The fee waiver applies to the first calendar quarter following the subscription
- Check the quarter concerned in the Referrals tab, then the Fee waiver activity
Our analysis
The Nalo Ambassadeur programme works through fee waivers, not cash payments. Both referrer and referee are exempt from management fees for the first calendar quarter following the referee's subscription. Timing matters: Nalo charges fees quarterly, so a subscription on 15 February opens a waiver covering April, May and June. The value is not a flat amount, it depends on the referee's first deposit according to a grid presented as identical for everyone, and can reach €500 per referee. Two things set this apart from most bank offers: the referrer faces no cap on the number of referees, and there is no Nalo promo code at all, only a referral link from the client area. For the referee, the benefit cannot be combined with another fee waiver on a first subscription, and they have three months from the invitation to subscribe.
Strengths
- Both referrer and referee benefit, over the same quarter
- No cap on the number of referees for the referrer
- Benefit worth up to €500 per referee depending on the first deposit
- ETF-based managed investing, allocation built project by project
Things to watch
- The benefit is a fee waiver, not a cash payment
- Its real value depends on the balance: small on a small portfolio
- The referee must subscribe within 3 months of the invitation
- Cannot be combined with another fee waiver on a first subscription
- Unit-linked investments carry a risk of capital loss
Frequently asked questions
What does the Nalo referral pay?
Both referrer and referee are exempt from management fees for the first calendar quarter following the referee's subscription. The amount is not flat: it depends on the referee's first deposit, according to a grid presented as identical for everyone, and can reach €500 each. Conditions recorded on nalo.fr on 28/07/2026.
Is there a Nalo promo code?
No. Nalo explicitly states that it makes no promo code available. The only way to get the benefit is the referral link, which the referrer retrieves from the Referral tab of their client area. Be wary of sites displaying a supposed Nalo code.
When does the Nalo fee waiver apply?
Over the first calendar quarter following the referee's subscription, because Nalo charges its fees quarterly. A subscription on 15 February therefore opens a waiver covering April, May and June of the same year. The quarter concerned is shown in the Referrals tab of the client area.
How many referees can I have at Nalo?
There is no cap. Nalo states that a referrer can have as many referees as they wish, and gets one quarter of management fees waived for each new referee subscription.
Offer verified on 2026-07-28