Negative interest on retail customer accounts from €100,000
As from July 1, 2021, the Volksbank’s brands SNS, ASN Bank and RegioBank will charge 0.5% interest per year on the portion on balances that exceeds € 100,000. The negative interest rate is calculated per individual retail current, savings and investment account. The limit was previously set at € 250,000.
The adjustment is being made because of the continuing low and negative interest rates in the financial market. In many cases, the Volksbank pays interest on liquidities deposited with financial institutions, such as the European Central Bank.
Despite a historically low interest rate, customers continue to save. We see an increase in savings during the COVID-19 pandemic. De Volksbank and its bank brands SNS, ASN Bank and RegioBank value the fact that customers can continue to save to maintain buffers for unforeseen expenses.
Up to a balance of € 25,000 retail customers will receive a variable interest rate of 0.01%. More information on interest rates and interest rate changes can be found on the websites of our brands.