ABN AMRO lowers interest on retail savings

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Percentage

Effective 31 October ABN AMRO will lower its interest rates for practically all its retail savings accounts by 0.10%. ‘Vermogens’ Savings Accounts, the most popular form of savings, will now pay out 1.05% instead of 1.15%, for example, while the interest on Direct Savings Accounts will go from 0.80% to 0.70%. Clients have already been notified of this move.

The bank’s decision to lower its rates is rendered necessary by the interest rates on the money market and the capital market, which continue to fall.

To find out more about how the interest rates for savings accounts are determined, visit this report. Click here to see the bank’s current interest rates.

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