2023-10-05 17:28:00
One-year government bonds were extremely successful at the end of August. We told you regarding it, more than 22 billion were raised, a record. The government’s objective was to motivate banks to raise their interest rates by setting an example. It seems to work. A month following this operation, some banks increased these rates.
Belfius offers a rate of 2% on your savings account from November. It is one of the first major banks to increase its rates since the launch of the government bond.
“Belfius offers a rate of 2% on a certain account, the fidelity account. This comes with several conditions. We imagine that the other major banks, KBC, ING or BNP, will gradually align themselves with this rate,” says Martin Buxant, our economics specialist.
This is precisely the objective sought by the government: to encourage more competitive rates. “A certain number of them have seen part of their business leave. We have to rebuild it by attracting customers, and we do this by offering a better interest rate,” explains Etienne De Callatay, professor of economics at the University of Namur.
But the most aggressive offers actually come from 100% digital banks. “On the one hand, because they are aimed at a more informed, more attentive public. They will change banks more easily, so they must offer more attractive remuneration. On the other hand, they lent less in terms of loans and particularly in terms of mortgage loans”adds Etienne De Callatay.
The competition is therefore launched. A wish of Belgians: 7 out of 10 people demand better returns on their savings.
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