Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
ING Bank
ING Bank - Credit: Photo: wujekspeed/DepositPhotos / DepositPhotos - License: DepositPhotos
Business
negative interest
ECB
ING
savings interest
interest rate
Monday, 13 June 2022 - 11:20
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

ING ends negative interest rates on savings accounts

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 interest rate for savers with less than 100,000 euros is already 0 percent.

The bank's announcement happened shortly after a new interest rate decision from the European Central Bank (ECB), NU.nl reports. The ECB announced it would raise its main interest rate by 0.25 percent from July - the first increase in more than eleven years. Another 0.25 percent increase is expected in September.

 ECB's main interest rate is the interest banks receive or pay for storing money at the central bank. Banks use this rate to determine their own interest rate.

On Friday, Rabobank announced that it would raise its interest on savings by 0.25 percent from August. Then the interest rate for Rabobank savers with over 100,000 euros in their accounts will be -0.25 percent. 

Follow us:

Latest stories

  • About 150 houses heavily damaged after Zierikzee tornado
  • Necklace worth €27 million snatched in Tefaf Maastricht art fair robbery: Report
  • Philips: Issues with sleep apnea machines less harmful than thought
  • Instructor, student killed in small plane crash on Tuesday
  • Covid hospital patient total jumps 17 percent; New infections rise by 29 percent
  • Supreme Court confirms mother's conviction for girl's fatal fall from Hoogeveen flat

Top stories

  • Necklace worth €27 million snatched in Tefaf Maastricht art fair robbery: Report
  • Covid hospital patient total jumps 17 percent; New infections rise by 29 percent
  • Small plane crashes in Flevoland lake; Rescuers working to save victims
  • Farmers burning hay bales on highways with more nitrogen policy protests expected
  • Health Min. wants to expand euthanasia access to terminally ill children under 12
  • Woman, 73, killed in Zeeland tornado

© 2012-2022, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content