ING customers are furious by the prospect of their bank maybe charging negative interest on their savings accounts. CEO Ralph Hamers mentioned this as an option to cushion the blow should the European Central Bank decide to cut interest rates again, RTL Z reports.
Dozens of small companies that received crowdfunding from commercial platforms in the form of a loan, went bankrupt a short time later, according to a study by investigative journalism platform Investico, Trouw and De Groene Amsterdammer. The companies end up in financial troubles due to the high costs involved in repaying their loans, Trouw writes.
The government's plan to increase interest rates on student loans will almost certainly fail in the Eerste Kamer, the Dutch Senate. Former VVD Senator Anne-Wil Duthler is increasingly critical of the plan, and support from the D66 also seems to be crumbling, NOS reports. The student loan system is also causing friction within GroenLinks.
Increasing the interest on student loans is contrary to an international treaty that the Netherlands signed, according to student organizations ISO and LSR. They call on Minister Ingrid van Engelshoven of Education to withdraw the legislative proposal that regulates this interest increase. If she does not, the organizations will call on the Senate to stop it or take "legal action", NOS reports.
The Dutch government wants to increase the interest on student loans as of 2020, according to a legislative proposal sent to the Tweede Kamer, the lower house of Dutch parliament, last week. The measure must bring 226 million euros into the treasury, and is intended to keep the loan system affordable, ANP reports.
ABN Amro expects that home prices in the Netherlands will increase by an average of 8.5 percent this year and 7 percent next year, instead of the bank's previous predictions of 8 and 5 percent respectively. According to the bank, interest rates will remain low for the time being, resulting in housing prices increasing faster than previously expected, ANP reports.
The stock exchanges in Europe opened with strong minuses on Tuesday following heavy exchange losses in Asia and on Wall Street. The AEX index on Beursplein 5 in Amsterdam recorded 3.5 percent lower at 523.69 points shortly after start of trading. All 25 main funds were in the red, AD reports.
The MidKap plunged 3.8 percent to 785.67 points and the stock exchanges in London, Paris and Frankfurt saw a 3 percent drop in value.
Home buyers with a mortgage that has a longer fixed interest rate period are often misled by the so-called moving scheme, according to the own home association VEH. New buyers who sign a mortgage with National Mortgage Guarantee and an interest rate period of 20 or 30 years, get duped when the move to a home that is not eligible for the National Mortgage Guarantee, the VEH said on Tuesday, NU.nl reports.
The association examined the moving conditions of 35 mortgage providers and concluded that clients of ING, bijBouwe, Allianz and Hypotrust Goede Start all fall into this trap.
Triodos bank is the first Dutch bank to drop its interest rate to 0.0 percent. From April Triodos customers will no longer get any interest on their regular internet savings account, NOS reports. Triodos already had the lowest interest rate of all Dutch banks. In October the bank lowered its interest rate to 0.1 percent.
For the first time ever the interest rate on study loans is dropping to 0 percent next year, a spokesperson for education executive agency DUO confirmed to NU.nl.
Students who finish their studies this year will not have to pay interest on their study loans for the next five years. The 0 percent interest rate also applies to former students who are starting a new fixed interest period of five years in 2017.
For the first time in history 10-year-fixed-mortgage interest rates fell below 2 percent at a number of providers, according to figures from De Hypotheekshop. Home buyers could not wish to be luckier than with this unprecedented low mortgage rate, which is expected to fuel the housing boom
The interest rate on student loans next year is fixed at 0.01 percent, according to an overview of student financing institution Duo's new interest rates
ABN Amro is recalculating the fine charged for prematurely repaying mortgages, the bank reported today in response to a Tuesday's broadcast of TV program Radar. Some customers complained that they had to pay a heavy fine to pay off their mortgage or when refinancing their loan.
ABN Amro and ING announced a decrease in their savings account interest rates on Friday. The Dutch banks will both drop their rate from one percent to 0.9 percent in the last week of April.
Rabobank is lowering its savings interest rates to 0.9 percent next week. With this Rabobank is the first large Dutch bank to drop its savings interest below 1 percent, De Telegraaf reports.
Inflation in the Netherlands decreased to the lowest level in 27 years in January, with the average price increase coming out at exactly 0 percent. The average interest rate also decreased to 0.5 percent in January (0.8 percent in December 2014), the lowest since the start of De Nederlandsche Bank's (DNB) time series in mid 1986.
Mortgages will likely be much more expensive in the near future, warns Dutch retail bank Rabobank. The rates are expected to increase because of stricter government regulations, the firm's representative told Financieele Dagblad.
According to Statistics Netherlands, the interest rate in the Netherlands is at its lowest since the beginning of the time series of De Nederlandsche Bank (DNB) mid 1986.
The Dutch in general are conscious and careful about their money. According to results from the annual monitor from Wiser in Money Affairs, the past year has seen an improvement in the way people organize their finances, the NOS reports.
Today, mortgager Obvion, daughter company of Rabobank, is lowering tariffs for its most important mortgages with 0.1 percent, RTL Nieuws reports. For The Netherlands, the mortgage rates continue to fall as SNS Bank already announced a new drop in rates last Friday.
The uncertain outlook for the Dutch economy in recent months, has caused that the Netherlands has to pay more interest on its government bonds. On top of that was Monday, at least temporarily, the end of a period in which investors were willing to add money for short term loans to the Dutch government.