2023-07-21 16:12:40
Recently, banks have been increasing their interest rates for savers almost every month. At Rabobank, the interest rate for freely withdrawable savings will increase from 1.25 to 1.5 percent on 15 August. ING customers with a savings balance of up to and including EUR 10,000 will receive 1.25 percent from that moment on.
ING savers who are above that will receive 1.15 percent up to an amount of one million euros, the bank announced on Friday. People with more than a million do not receive interest.
The increases by Rabobank and ING are partly a result of the interest rate policy of the European Central Bank (ECB). It has raised its main interest rates no less than seven times in the past twelve months. The ECB is doing this to combat inflation in Europe. Experts expect another increase in September.
All these increases should give banks room to raise their interest rates, for example for savers. Mortgage interest rates at Dutch banks already shot up sharply last year, but interest rates on savings accounts lagged behind for a long time. It was only 0.01 percent until December 2022. Since then, the banks have raised their savings interest rates several times.
The interest rates at the major banks are not yet really a fat pot. You often get higher rates at foreign banks and contra accounts of investment institutions where you can also receive savings interest. They offer up to a maximum of 2.6 percent interest for instant savings.
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