ABN AMRO’s Green Savings Deposit available again

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Article tags:
  • Sustainability
  • Products and services

From Thursday 22 September, ABN AMRO Groenbank will once again offer savers the possibility to save sustainably via a Green Savings Deposit. ABN AMRO will use the money it raises through this product to provide green loans to its clients. The Green Savings Deposit will remain open until ABN AMRO Groenbank has raised enough funding.

ABN AMRO Groenbank is offering its Green Savings Deposit as part of the Dutch government’s Green Projects Scheme. At least 70% of the savings raised in this manner will be used to finance sustainable projects. In the past, various healthcare buildings, for instance, have been made more sustainable using funds raised through the Green Savings Deposit.

The Green Savings Deposit is subject to a number of terms and conditions. The product has a fixed interest rate of 0.40% and a fixed term of one year. Under the Green Projects Scheme, savers could qualify for a tax benefit. Balances on green deposits of up to EUR 61,215 (2022) are exempt from tax on deemed investment income (‘box 3 tax’). A 0.70% tax credit also applies to amounts invested in green deposits.

“ABN AMRO wants to accelerate the sustainability shift. Groenbank will use the money raised with the Green Savings Deposit to invest in sustainable projects. In this way, we are helping to fight climate change and are promoting the circular economy,” explains Krista Overwater, Manager at ABN AMRO Groenbank. “Interest in the Green Savings Deposit and in sustainable financing is as strong as ever. That’s one reason why it’s possible to use more than 80% of the money raised to finance sustainable projects. So it’s great that the Green Savings Deposit is open to savers once again.” Since the reintroduction in 2018, ABN AMRO Groenbank has provided more than EUR 500 million in financing under the Green Projects Scheme.

More information on ABN AMRO Groenbank’s way of working and investments is available on its website. (Dutch only) More information on opening a Green Savings Deposit is available on the savings products page of the ABN AMRO website. (Dutch only) ABN AMRO Groenbank is a wholly-owned subsidiary of ABN AMRO.