If you have more than a quarter of a million in your savings account, you will have to pay negative interest at SNS, ASN and Regiobank from 1 March.
For wealthy savers, having money in the bank at de Volksbank will soon become an expensive joke. The parent company of SNS, ASN and Regiobank will no longer pay interest for savers with more than 250,000 euros in their account. Above 2.5 tons you have to pay interest.
You will then be charged 0.5 percent of your savings. Savers still receive interest up to EUR 250,000, although this is minimal at 0.01 percent.
In its own words, De Volksbank must charge interest because of the persistent low and negative interest rates on the financial markets. At the same time, more is being saved and in many cases the bank pays interest on the savings.
Chasing other banks
Volksbank is following the other banks with this step. At ABN Amro you pay negative interest from 1 January 2021 from 500,000 euros, now it is from 2.5 million euros.
At Rabobank you pay an interest of 0.5 percent above 250,000 euros from 1 January. This has been the case at ING Bank since 1 October.
Interest has been low for years
Savings interest has been very low for a long time. This is partly because the banks themselves have to pay interest on the money they store at the European Central Bank (ECB).
In addition, there are structural developments, such as the aging population and globalization, which are depressing interest rates. The aging population, for example, slows down economic growth and with it inflation. This results in a lower interest rate.
