Home » Business » Banks Increase Savings Interest Rates: ABN AMRO Offers 1.5% Interest on Savings

Banks Increase Savings Interest Rates: ABN AMRO Offers 1.5% Interest on Savings

Sep 26, 2023 at 4:29 PM Update: an hour ago

From October 15, savers at ABN AMRO will receive 1.5 percent interest on their savings. This concerns freely withdrawable credit. The bank announced this on Tuesday.

The savings interest rate will also increase in mid-October for children’s savings accounts and business customers, to 1.65 and 1.5 percent respectively. At the moment, most savers at the bank still receive 1.25 percent.

Banks have recently increased their savings rates again. This is partly because the banks themselves have been receiving interest again for more than a year now when they deposit their money with the European Central Bank (ECB).

The other major banks in our country, ING and Rabobank, have also recently increased their interest rates. For example, small savers at ING currently receive 1.25 percent. In addition, Rabobank recently announced that it would increase its rates to 1.7 percent, for those with a maximum savings of 20,000 euros.

Furthermore, ASN Bank, SNS Bank and RegioBank recently increased their interest rates to 1.2 or 1.25 percent. The three banks are part of de Volksbank.

The banks have recently been criticized, including from politicians, for not raising their interest rates enough. The rate that the banks receive from the ECB is higher than the interest they offer their savers.

Image: ANP

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2023-09-26 15:31:17
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