Friday 21 February 2020

Rabobank is third big bank to introduce negative interest rates

Rabobank’s headquarters in Utrecht. Photo:

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. has been free for 13 years, but now we are asking our readers to help. Your donation will enable us to keep providing you with fair and accurate news and features about all things Dutch.
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