Friday, 3 June 2016 – 9:44 Update: 04-06-2016 10:59
Dutch savers get from the end of next week all banks less than 1 percent savings. According to figures from the comparison Spaarrente.nl. NN is the last bank that falls below the 1 percent interest for a free recordable savings account. This bank lowered by 10 June the interest rate to 0.9 percent.
Savers see the return on their savings since the end of 2012 only to decline. But never the savings rates fell as hard as now, Amanda Bulthuis of Spaarrente.nl explains. “Since the beginning of 2016 have only been in savings over 60 rate cuts.”
The fact that savings rates fall so hard, mainly due to the low ECB interest rates. This is the main interest rate of the European Central Bank (ECB). The ECB rate is currently at historically low levels, namely 0 per cent. This means that the banks do not have to pay interest about the money they borrow from the ECB. Because banks they have less need hard money saver can borrow from the ECB and the banks are thus much less interest over.
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