2023-07-18 19:02:47
par Niels Saelens
posted on Tuesday July 18th, 2023 at 9:02 PM •
5 min read
Virtually all banks have increased their interest rates under government pressure, or will do so soon. Despite these (announced) increases, many players still have to settle for a commission of 1% or less when they put their money in a traditional savings account.
Why is this important?
Many banks raised their interest rates in the fall, in response to the tightening of monetary policy by the European Central Bank (ECB). In recent weeks, several banks have announced that they will continue these increases. They do so under pressure from the government. The latter has repeatedly criticized the rather modest savings rates granted by financial institutions.
The new : Almost all financial institutions, including the big four banks, have raised savings rates or signaled that they will do so soon. Beobank is the latest bank to announce interest rate hikes.
The interest rate on the classic savings account will drop from 0.4% to 0.9% on August 1. On the Save Plus account, the interest rate increases from 0.5% to 0.9% for savers who save up to a maximum of
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