ABN Amro also stops negative interest rates for rich savers | Financial

ABN Amro announced this on Tuesday. The extra step to reset the interest rate for savers with more than €100,000 to 0% does depend on the step that the European Central Bank (ECB) indicated earlier. That chance seems to be increasing by the week. On Tuesday, President Klaas Knot of De Nederlandsche Bank (DNB) already stated that interest rates may have to rise further than 0% in September to combat inflation.

For ordinary savers, nothing will change at all three major banks for the time being. ABN Amro will also keep this interest at 0% for the time being. However, CEO Robert Swaak of ABN Amro states that the negative interest rate had to be removed in any case. “Paying negative interest on your savings is a phenomenon that of course nobody wants. We are happy for our customers that this will soon come to an end. With these steps we return to more normal waters. Interest rates are partly determined by how much is being saved, how great the demand is for loans and the interest on the money and capital markets.”

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