ABN AMRO changes interest rate on deposits above 100,000 euros

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Clients with savings account balances of more than 100,000 euros will pay 0.25% less negative interest from 1 August 2022. The interest rate will go from -0.5% to -0.25%. On 1 October, ABN AMRO will further raise the rate for these clients by another 0.25%, to 0%, provided the ECB hikes the deposit rate in September, as announced on Thursday, 9 June 2022.

The decision will not affect the interest rate for clients with total balances up to 100,000 euros, which now stands at 0%.

Robert Swaak, CEO of ABN AMRO: “Paying negative interest on your savings is a phenomenon no-one is happy with, of course. So we’re pleased for our clients that this situation will soon come to an end. These steps will get us back into more normal territory, where interest rates are determined by such factors as savings volumes, demand for loans and money and capital market rates.”