From December 1st, ING customers will again receive interest on their savings. Rabobank previously raised interest rates on savings deposits.
At ING, interest is 0.25 percent for savings up to EUR 10,000. Up to one million euros it is 0.15 percent, above that the interest remains zero.
Rabobank customers will receive 0.25 percent on their savings from December 1, the bank announced last week.
The savings interest charged by the banks is based on the deposit rate of the European Central Bank. In July, the ECB hiked interest rates for the first time in eleven years. Interest rates also rose in September for the biggest move ever. Higher interest rates should lead to lower inflation.
The banks’ first reaction was to abolish negative interest rates for wealthy savers. For example, until October 1, ING still had negative interest for customers with more than one hundred thousand euros in the savings account. It was abolished earlier this month.
ABN Amro cannot yet say anything about possible interest rate increases.
Source: NOS
I’m Jamie Bowen, a dedicated and passionate news writer for 24 News Reporters. My specialty is covering the automotive industry, but I also enjoy writing about a wide range of other topics such as business and politics. I believe in providing my readers with accurate information while entertaining them with engaging content.
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