ABN AMRO lowers interest rates on a number of retail savings accounts

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ABN AMRO will lower interest rates on a number of retail savings accounts as from 10 October. The interest paid on the Direct Sparen savings account, which offers instant access to deposits, will be lowered from 0.10% to 0.05%. The interest paid on the KinderToekomstSpaarrekening, a children's savings account, will remain unchanged. Clients have been informed of the changes.

The bank is making these changes in response to negative interest rates on the money market and low interest rates on the capital market. More information on how interest rates are set is available in this news item. A complete list of ABN AMRO's current interest rates is available here.