Savings rates in the Netherlands continue to decline
5 days, 14 hours ago

Savings rates in the Netherlands continue to decline

NL Times  

Savings account interest rates in the Netherlands saw a significant drop last year, according to a report by financial comparison platform Geld.nl. Data from the platform shows that the highest interest rate for freely accessible savings accounts dropped from 4 percent to 3 percent over the past 12 months. The ECB initially raised rates significantly to combat high inflation but has gradually lowered them since mid-last year. "The ECB is expected to lower its interest rates again later this month, which would likely cause savings rates to decline further," said De Vries.

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History of this topic

Dutch savers face €7.6 billion loss in purchasing power amid high inflation
3 days, 14 hours ago

Dutch savers face €7.6 billion loss in purchasing power amid high inflation

NL Times  

Dutch savers collectively lost approximately 7.6 billion euros in purchasing power on their savings in 2024, according to a press release by the savings platform Raisin. Despite stabilizing interest rates, persistent inflation continued to erode the value of savings, with an average loss of 1.8 percent on freely accessible savings accounts and 0.7 percent on term deposits. In 2022, the …

Mortgage interest rates to continue steady downward trend, mortgage advisor says
1 month, 1 week ago

Mortgage interest rates to continue steady downward trend, mortgage advisor says

NL Times  

The interest on a 10-year mortgage with National Mortgage Guarantee has dropped a full percentage point since it peaked in October 2023, De Hypotheker reported. The mortgage advisor expects the slow, but steady decline in mortgage interest rates to continue. Currently, the average mortgage interest rate for loans with a 10-year term and National Mortgage Guarantee is 3.55 percent - …

Dutch central bank president predicts interest rates will begin to fall in June
10 months ago

Dutch central bank president predicts interest rates will begin to fall in June

NL Times  

Interest rates in the eurozone could decrease slightly in June if the numbers show that salary increases did not drive up inflation again, said Klaas Knot, the president of the De Nederlandsche Bank. "That means that we are slowly moving towards the point where you can gradually take away some restrictions that you are putting on the economy with the …

Highest interest rates for fixed-term deposit savings falls below 4 percent
11 months ago

Highest interest rates for fixed-term deposit savings falls below 4 percent

NL Times  

Savers wanting to lock up interest rates for fixed-term deposit accounts will now receive a lower interest rate than before. The highest interest rate dropped back below 4 percent for savings accounts where money may not be accessed for a specified period of time. By lowering this interest rate, banks are signalling their anticipation that the European Central Bank will …

Dutch inflation rate falls to 3.8 percent in 2023, compared to 10 percent in 2022
1 year ago

Dutch inflation rate falls to 3.8 percent in 2023, compared to 10 percent in 2022

NL Times  

The annual inflation rate in the Netherlands was estimated at 3.8 percent in 2023, according to the first calculation from Statistics Netherlands. In December, this rate of inflation was still 3.4 percent, compared to 4.2 percent a month earlier and 8.1 percent at the peak in February and March. In December, inflation including the energy bill amounted to 1.2 percent …

Dutch consumer watchdog investigating low savings interest rates at Dutch banks
1 year, 2 months ago

Dutch consumer watchdog investigating low savings interest rates at Dutch banks

NL Times  

The Netherlands Authority for Consumers and Markets announced on Monday that it will conduct an investigation into the development of savings interest rates and competition in the Dutch savings market. According to the consumer watchdog, there are indications that Dutch consumers benefit only to a limited extent from the increased interest rates in the European market. The Ministry of Finance …

Dutch economy to grow slightly this year despite recession: ABN Amro
1 year, 4 months ago

Dutch economy to grow slightly this year despite recession: ABN Amro

NL Times  

ABN Amro expects the Dutch economy to grow slightly by 0.5 percent this year. Rising interest rates due to central bank interest rate increases also have a slowing effect because, for example, it makes borrowing more expensive. In addition, the European Central Bank’s target for inflation of 2 percent remains out of sight, according to ABN Amro. ABN Amro also …

Rabobank raises savings account interest rate above 1 percent; First major Dutch bank
1 year, 7 months ago

Rabobank raises savings account interest rate above 1 percent; First major Dutch bank

NL Times  

Rabobank will increase the interest rates on savings accounts from 0.75 percent to 1 percent on June 1. But since the European Central Bank started hiking interest rates to try and temper the high inflation caused by the Russian war in Ukraine, the Dutch banks have raised savings interest rates several times. Earlier this month, Minister Sigrid Kaag of Finance …

Dutch central bank reports first loss since 1931 amid rising interest rates
1 year, 9 months ago

Dutch central bank reports first loss since 1931 amid rising interest rates

NL Times  

De Nederlandsche Bank suffered a loss of almost half a billion euros last year due to the sharp rise in interest rates. Due to the higher interest rates, the central bank itself has lost more money, while yields have tumbled on bonds purchased in droves in recent years. The last time the DNB suffered a loss was in 1931, when …

Netherlands residents still managing to save a lot of cash even after Covid
1 year, 11 months ago

Netherlands residents still managing to save a lot of cash even after Covid

NL Times  

Households in the Netherlands have continued to increase their savings considerably after the coronavirus crisis, according to De Nederlandsche Bank. The country’s central bank said that the total amount the Dutch have in their bank accounts increased again last year by tens of billions of euros. Collectively, everyone in the Netherlands had a total of 562.5 billion euros in their …

Housing prices to fall 8% in EU with “years of declining” prices in Netherlands
2 years ago

Housing prices to fall 8% in EU with “years of declining” prices in Netherlands

NL Times  

Home prices in the Eurozone will fall in the next two years, and the Netherlands and Germany will be hit hardest with a fall of around -8 percent by the end of 2024, according to credit insurer Allianz Trade. “After ten years, this is now coming to an end, and we are heading for years of decline.” In Sweden, home …

Sharpest monthly drop in Dutch housing prices since 2013
2 years ago

Sharpest monthly drop in Dutch housing prices since 2013

NL Times  

Average home sales prices in the Netherlands fell for the fourth month in the row, with November representing the sharpest recorded decrease since May 2013. Owner occupied homes sold in November cost nearly 1 percent less on average than in October, according to data released on Thursday by Statistics Netherlands. Overall, the Dutch Central Bank predicted that home prices will …

Dutch home prices to drop 3% next year; Still unaffordable to many: Rabobank
2 years, 1 month ago

Dutch home prices to drop 3% next year; Still unaffordable to many: Rabobank

NL Times  

Home prices will fall by 3 percent next year, and by another 1.5 percent in 2024, Rabobank expects. But the falling house prices will not automatically lead to more sales, partly due to the rise in the mortgage interest rates. “In the meantime, even two average annual incomes are insufficient to buy an average-priced home,” said De Groot. “We think …

Dutch housing prices could fall 3% next year, 2% in 2024, says Rabobank
2 years, 2 months ago

Dutch housing prices could fall 3% next year, 2% in 2024, says Rabobank

NL Times  

The increasing mortgage interest rates will cool down the Netherlands’ housing market fast, economists at Rabobank expect. “By the end of 2024, home prices are expected to be 7.4 percent lower than today, roughly at the level of the last quarter of 2021,” Rabobank said. If central banks increase the capital interest rates by another 1 percent, house prices will …

Foreign banks attracting many Dutch savers with higher interest rates
2 years, 2 months ago

Foreign banks attracting many Dutch savers with higher interest rates

NL Times  

Foreign banks are attracting more and more Dutch savers with higher interest rates on savings accounts. Banks from Estonia, Italy, Germany, France, and Slovakia, among others, have seen a sharp increase in Dutch customers since the European Central Bank scrapped negative interest in July, NOS reports. But some foreign banks increased their interest rates more significantly, resulting in a difference …

Mortgage interest rates near highest point in eight years
2 years, 3 months ago

Mortgage interest rates near highest point in eight years

NL Times  

Mortgage interest rates in the Netherlands are currently at their highest point since the beginning of 2014. The mortgage adviser blamed the rate hikes on interest rate increases by central banks like the European Central Bank and the American Fed, as well as the sabotage of the Nord Stream pipelines last week. For comparison, the mortgage interest rate was historically …

Mortgage rates quickly rise to 4 percent after summer dip
2 years, 3 months ago

Mortgage rates quickly rise to 4 percent after summer dip

NL Times  

After a brief summer period where mortgage interest rates declined the average rate was back on the rise in the Netherlands. “Since July, interest rates on the capital market have risen by about 0.90 percentage points, which obviously has consequences for mortgage rates,” the organization wrote. Mortgage rates have jumped up by an average of 0.05 percent or more on …

Dutch inflation climbs to record 12%
2 years, 4 months ago

Dutch inflation climbs to record 12%

NL Times  

Inflation in the Netherlands rose to 12 percent in August, from 10.3 percent a month earlier. The ever-rising inflation puts pressure on the European Central Bank to raise interest rates even more. Several bank policymakers, including President Klaas Knot of De Nederlandsche Bank and Joachim Nagel of the Bundesbank, have argued for a stronger interest rate hike against the high …

Dutch inflation jumps to 13.6%; To remain high for a while: DNB president
2 years, 4 months ago

Dutch inflation jumps to 13.6%; To remain high for a while: DNB president

NL Times  

Daily life in the Netherlands was 13.6 percent more expensive in August than the same month last year, Statistics Netherlands reported. “But even if this slowdown does come, it alone won’t be enough to get inflation toward our medium-term target.” At the same time, Knot Because of all these issues, Knot, who is known as a hawk within the European …

Charities lost millions to banks charging negative savings interest
2 years, 5 months ago

Charities lost millions to banks charging negative savings interest

NL Times  

Negative interest rates banks imposed on savings accounts over the past 18 months cost Dutch charities about 2.3 million euros, NOS reports. “Certainly not if you compare that to the billions in profits they made last year.” The Salvation Army paid 301,000 euros in negative interest over the past 18 months, the Red Cross 250,000 euros, KWF Cancer Fund 231,000 …

ING ends negative interest rates on savings accounts
2 years, 7 months ago

ING ends negative interest rates on savings accounts

NL Times  

ING is the first large Dutch bank to scrap negative interest on savings accounts. From October, the interest rates for ING savers with more than 100,000 euros in their account will increase from -0.5 percent to 0 percent, the bank announced. The bank's announcement happened shortly after a new interest rate decision from the European Central Bank, NU.nl reports. The …

Dutch home prices still climbing, but slowing down
2 years, 7 months ago

Dutch home prices still climbing, but slowing down

NL Times  

House prices in the Netherland rose sharply again in April. But the pace at which home prices are increasing is lower than at the beginning of this year, according to new figures from Statistics Netherlands. "The lowest mortgage interest rates have risen about three times since the beginning of the year," said financial expert Amanda Bulthuis of comparison site Geld.nl. …

Netherlands unemployment still falling, down to 3.3% in May
3 years, 6 months ago

Netherlands unemployment still falling, down to 3.3% in May

NL Times  

The unemployment rate in the Netherlands dropped to 3.3% percent in May, Statistics Netherlands announced on Thursday. Due to the coronavirus crisis, the unemployment rate reached 4,6 percent last August and it has been declining steadily since then. A total of 4.1 million people in the Netherlands aged 15 to 75 were not doing paid work in May for a …

Netherlands residents not spending lockdown savings: Rabobank
3 years, 6 months ago

Netherlands residents not spending lockdown savings: Rabobank

NL Times  

The billions of euros Netherlands residents put into their savings accounts during the coronavirus crisis will stay where it is for the time being. Most people don't plan on spending their savings in the near future, Rabobank concluded in a survey of 1,546 people, NOS reports. In 2020 Netherlands residents saved a massive 77 billion euros, the highest amount since …

Persistent pandemic will delay economic recovery: Dutch Central Bank
3 years, 9 months ago

Persistent pandemic will delay economic recovery: Dutch Central Bank

NL Times  

The economy will recover more slowly than Dutch central bank DNB expected due to an extended and stricter lockdown. “Despite all good intentions, the Netherlands is not the best student in the European class when it comes to sustainability lessons.” Low-interest rates impact general public Another prediction that the DNB has for the future is that interest rates on savings …

Mortgage interest rates at record low in Netherlands
4 years ago

Mortgage interest rates at record low in Netherlands

NL Times  

The mortgage interest rates in the Netherlands dropped to a record low over the past year. Those who took out a 20 year mortgage with National Mortgage Guarantee on January 1 did so at an interest rate of 1.23 percent, compared to 1.48 percent a year earlier, according to figures from comparison site Rente.nl, RTL Nieuws reports. A low mortgage …

ING the second Netherlands bank to turn to negative savings interest
4 years, 11 months ago

ING the second Netherlands bank to turn to negative savings interest

NL Times  

Banking institution ING has become the second bank in the Netherlands to charge a negative interest rate on certain savings accounts. Customers will face a -0.50 percent interest rate for any amount in an account above one million euros, the bank said on Friday. That decision was expected to hit about 5,200 account holders ING was lambasted for even suggesting …

Dutch central bank chief criticises ECB interest rate cut to stimulate growth
5 years, 4 months ago

Dutch central bank chief criticises ECB interest rate cut to stimulate growth

Dutch News  

Dutch central bank chief Klaas Knot has criticised yesterday’s decision by the European central bank to cut interest rates, in an effort to stimulate the region’s economy. Knot, who is a member of the ECB’s governing council, said in a statement that measure is not in proportion to the current economic situation and that ‘there are sound reasons to doubt …

Dutch central bank chief criticises ECB interest rate cut to stimulate growth
5 years, 4 months ago

Dutch central bank chief criticises ECB interest rate cut to stimulate growth

Dutch News  

Dutch central bank chief Klaas Knot has criticised yesterday’s decision by the European central bank to cut interest rates, in an effort to stimulate the region’s economy. Knot, who is a member of the ECB’s governing council, said in a statement that measure is not in proportion to the current economic situation and that ‘there are sound reasons to doubt …

Negative interest rates on savings an unavoidable future: Report
5 years, 4 months ago

Negative interest rates on savings an unavoidable future: Report

NL Times  

Dutch consumers will start paying interest on their savings accounts in the near future, various analysts told Financieele Dagblad. The cash that Dutch banks keep and are required to deposit at the European Central Bank currently costs them more than half a billion euros per year, due to the negative deposit interest rate. The negative deposit interest rate already costs …

Good news? Interest rates on personal loans drop to record lows
5 years, 4 months ago

Good news? Interest rates on personal loans drop to record lows

Dutch News  

Buying a home but unsure how to finance that much-needed bathroom renovation or to install solar panels? The Nederlands Krediet Collectief, for example, has cut its interest rate for the second time this year, offering customers a record low rate of 3.9% on a 10-year home renovation loan of €50,000. ‘Doing up your home at the current low interest rates, …

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