Postbank under fire over low interest

The ING-owned Postbank was heavily criticised on Monday for offering interest of just 0.5% on its Plus and 1.1% on its Kapitaal savings accounts, compared with a market average of around 2.5%.

According to the Volkskrant, the bank has structurally reduced its interest rates, earning €140m for the company’s coffers. At the same time, interest rates on the international money markets have been rising.
The paper claims that ING has discussed how long it could continue to maintain this ‘corporate model’. In total, €12bn has been put into Plus and Kapitaal accounts, the paper says.

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