Friday 14 August 2020

Rabobank is third big bank to introduce negative interest rates

Rabobank’s headquarters in Utrecht. Photo: Depositphotos.com

Rabobank has become the latest of the big Dutch banks to charge negative interest on large savings accounts.

Some 400 clients with over €1m in savings at the bank will be charged 0.5% on their savings, but those with less will be spared and will continue to receive 0.01% in interest, Rabobank said on Tuesday.

Business clients will also have to pay 0.5% on savings of over €1m.  This will impact some 6,600 clients, the bank said.

ABN Amro and ING have already introduced negative interest rates on large savings accounts. ABN Amro’s negative rate starts at €2.5m, ING’s at €1m.

Thank you for donating to DutchNews.nl

The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.

DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

If you have not yet made a donation, but would like to, you can do so via Ideal, credit card or Paypal.