De Volksbank to use overall account balances per customer to calculate negative interest
With effect from 1 April 2022 the brands of de Volksbank, i.e. SNS, ASN Bank and RegioBank, will use the overall account balances per customer as the threshold to charge negative interest. This is currently done on a per account basis. The overall balance is the sum of the balances on current accounts, savings accounts and the cash balance on investment accounts per customer. In case of an and/or account, the balance per person will count proportionally.
If the overall balance totals more than € 100,000, we will charge 0.5% interest on the portion that exceeds this amount; this is a floating interest rate on an annual basis. The overall balance applies separately per brand for both our retail and business customers.
Money invested and money in term deposits is excluded from the calculation of the overall balances, as are balances on accounts specifically intended for children, youngsters and students.
On balances up to € 25,000 per savings account, retail customers receive a floating interest rate of 0.01% on an annual basis. For more information on interest rates and interest rate changes, please refer to the websites of our brands.
