Dutch banks offer savings rates below market average

Major Dutch banks are offering significantly lower interest rates on standard savings accounts compared to the market average. While Rabobank announced an increase in its savings rates effective October 14, other large institutions including ING, ABN AMRO, and ASN Bank have kept their rates unchanged.

Data from the RevoSave Savings Index indicates a market midpoint of 2.26 percent. In contrast, several large banks offer rates between 0.9 and 1.5 percent. For a balance of €50,000, the difference between these major banks and a 2.5 percent rate can result in an annual loss of several hundred euros.

Many of these banks utilize tiered interest structures, where the rate decreases as the balance increases. For example, ING offers 1.25 percent up to €10,000, but the rate drops to 1.00 percent for amounts exceeding that threshold. Similarly, Rabobank’s rates decrease across different balance brackets up to €100,000. While some banks have increased rates on fixed-term deposits, standard flexible savings accounts remain notably lower than the market median.