Savings interest rates in the Netherlands are derisory. The main 3 big Dutch banks offer near zero rates to savers and rates continue to slowly decrease. In 2020 ABN Amro lowered savings interest rates to zero and give negative rates on larger balances.
When you account for inflation (about 1.9%) and wealth tax (about 1%) the reality is that you face negative real returns on your money.
Below we give an overview of the best standard savings account rates. Unfortunately the top rate is only 0.40% at the moment. If your savings are parked in one of the big 3 banks (ABN Amro, ING and Rabobank) then at least consider securing a better rate elsewhere.
Standard Savings Accounts Rates Netherlands
|Bank||Account||Interest Rate||Deposit Guarantee|
|Big Bank||Flexibel Sparen||0.40%||Estonia||Info|
|Lloyds Bank||Internet Spaarrekening||0.30%||DE|
|LeasePlan Bank||Flexibel Sparen||0.10%||NL|
|Anadolubank||Alfa Smart Savings||0.08%||NL|
|DHB Bank (Demir-Halk Bank)||DHB VoorSpoedrekening||0.07%||NL|
|KNAB||Flexibel Sparen||up to 0.02%||NL||Info|
|Garanti Bank||Gouden Internet Rekening||0.01%||NL|
|SNS Bank||Internet Sparen||0.01%||NL|
|Yapi-Kredi||Euro-Plus Savings Account||0.01%||NL|
|ING Bank||Oranje Spaarrekening||up to 0.01%||NL|
|Rabobank||Rabo InternetSparen||up to 0.01%||NL|
|ABN AMRO||Direct Sparen||0.00%||NL|
|Triodos Bank||Internet Sparen||0.00%||NL|
|Van Lanschot Bank||Spaarrekeningen||0.00%||NL|
These are variable interest rates and can change at any time.
ABN AMRO offers a negative rate of -0.50%. At first this was for balances over €2,500,000 but this has been slowly coming down – currently €500,000 and from July 2021 only €150,000. ING and Rabobank have the -0.50% rate for balances over €250,000.
You will note the presence of some foreign banks in the above listing. The Turkish banks Anadolubank, DHB Bank, Garanti Bank and Yapi-Kredi are all registered in the Netherlands and are covered by the Dutch deposit guarantee. Argenta is an independent bank from Belgium.
Lloyds Bank is from the UK but its Dutch business is now registered in Germany. Openbank is part of the Santander Group in Spain.
BigBank is an Estonian financial institution involved in consumer credit with an online presence in the Netherlands.
Some banks will offer a slightly higher bonus rate for quarterly savings accounts. The bonus is given as long as the balance is held for the full quarter. The Kwartaalspaarrekening from NIBC Direct pays 0.13% (0.10% basis plus 0.03% bonus).
For slightly higher rates you may choose to tie your money up for a fixed amount of time. Here is an overview of 1 year accounts:
Fixed Rate Accounts in the Netherlands – 1 Year term
|Bank||Account 1 Yr||Interest Rate||Deposit Guarantee|
|Yapi Kredi||Euro-Plus Deposit||0.40%||NL|
|Anadolubank||Alfa Time Deposits||0.20%||NL|
|Garanti Bank||Gouden Termijn Deposito||0.20%||NL|
Some term accounts require a minimum investment. Higher rates are available for longer fixed terms.
We have only focussed on banks operating in the Netherlands or those with a specific Dutch online presence. It is possible to find higher term account rates in other Eurozone countries such as Estonia and Latvia through intermediaries.
With the European Central Bank (ECB) base rate at 0% (and a negative deposit rate at -0.50%), it seems savings accounts rates will remain low for the foreseeable future. It is likely more savers will be faced with negative interest rates in the coming future.
And with the economic fallout due to the ‘coronavirus’ measures we could see more volatility and chaos in the financial sector.
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You can join bunq here
Savings Accounts Dutch Glossary
sparen – savings
spaarrekening – savings account
rente – interest rate
deposito – fixed term deposit
This page is for information purposes only, we are not offering any financial advice. We try to give accurate info but as ever products and interest rates can change at any time.
Last updated 15 April 2021.