FinanceLiving in Amsterdam

Savings Accounts Rates in the Netherlands

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 April 2020 ABN Amro lowered savings interest rates to zero.

When you account for inflation (about 1.4%) 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 0.30% 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
Lloyds Bank Internet Spaarrekening 0.30% DE
Big Bank Flexibel Sparen 0.20% Estonia Info
Openbank Open Spaarrekening 0.20% ES
NIBC Direct
Internetspaarrekening 0.15% NL
LeasePlan Bank Flexibel Sparen 0.10% NL
Anadolubank Alfa Smart Savings 0.08% NL
DHB Bank (Demir-Halk Bank) DHB VoorSpoedrekening 0.07% NL
Nationale Nederlanden Internetsparen 0.07% NL
Argenta Internet Spaarrekening 0.05% BE
KNAB Flexibel Sparen up to 0.04% NL Info
Garanti Bank Gouden Internet Rekening 0.01% NL
SNS Bank Internet Sparen 0.01% NL
ASN Bank Ideaalsparen 0.01% NL
ING Bank Oranje Spaarrekening up to 0.01% NL
Rabobank Rabo InternetSparen up to 0.01% NL
Yapi-Kredi Euro-Plus Savings Account 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% for balances over €2,500,000. ING and Rabobank have the -0.50% rate for balances over €1,000,000.

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 0.20% (0.15% basis plus 0.05% bonus). KNAB’s Kwartaal sparen pays up to 0.06% (0.01% + 0.05% 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
BigBank Deposito 0.55% Estonia Info
NIBC Direct
Termijndeposito 0.40% NL
Anadolubank Alfa Time Deposits 0.35% NL
Argenta Termijndeposito 0.20% BE
Garanti Bank Gouden Termijn Deposito 0.05% NL
Yapi Kredi Euro-Plus Deposit 0.05% NL
KNAB Deposito sparen 0.04% NL Info
ASN Bank Depositosparen 0.01% NL
Rabobank Rabo DoelSparen 0.01% NL
SNS Bank Keuzedeposito 0.00% 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 16 December 2020.

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