ABN AMRO cuts overdraft rates

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The outbreak of the coronavirus has had an acute impact on the financial situation of many businesses and private individuals. Banks in the Netherlands, including ABN AMRO, have taken a range of measures to help keep their clients as financially healthy as possible through the crisis. Loans and interest charged on loans are a key topical issue, and we have decided to help our clients by cutting to 9.9% our rates on our Privé Limiet Plus overdraft facility, equal to that on our Roodstaan product.

There are different ways to borrow money. ABN AMRO currently offers two different types of loans: overdraft facilities (including Privé Limiet Plus) and personal loans. Interest charges on overdraft facilities are typically higher than those on personal loans, reflecting the difference in costs and risks that the bank takes on.


  • A personal loan up to EUR 25,000 has interest rates from 4.2%.
  • An overdraft facility (Roodstaan) up to EUR 2,500 has an interest rate of 9.9%. 
  • Granting a loan typically involves EUR 100 in administrative costs. To pass this on to the client, this requires the following interest charges: 100/25,000 = 0.40% in case of the personal loan and 100/2,500 = 4% for going into the red.

In the event of more structural borrowing requirements, other loan products – such as personal loans – are more appropriate and sustainable than tapping into an overdraft facility. And if clients briefly need some additional financial scope, the Roodstaan overdraft facility is a good solution.

What help does ABN AMRO offer its borrowers?

If clients run into financial trouble, we are happy to help them find an appropriate solution. And these times are no different: we want to help our clients as much as we can. Which is why we have reduced the interest charge on our Privé Limiet Plus product to 9.9% from 1 April 2020.

In addition, we are offering our borrower clients the option of a payment holiday. This means that they can ask for their interest payments and repayments to be suspended for three months, and this arrangement includes mortgage clients. These schemes are intended for clients who are affected by the corona crisis in one way or another and who are already or may soon be facing financial repercussions. Business clients also qualify for a payment holiday. In fact, they are granted an automatic payment holiday of six months unless they formally opt out of this arrangement. We are running these schemes to help ease the burden on our clients temporarily.

Preventing payment arrears and debt

ABN AMRO feels it is essential that client debts and payment arrears are flagged very early on – and preferably prevented altogether. At a time when many people in this country are facing major financial setbacks because of the corona crisis, it’s important to act fast. We help our clients in a variety of ways:

  • Grip app: a digital household budgeting tool that shows exactly what you spend your money on.
  • A free personal financial insight report. This report provides a clear view of your individual financial situation and is free of charge. Focus issues are also flagged, such as your income upon retirement and any financial benefits to your family should you pass away.
  • Financial Grip Coaches. Preventing problems, that’s our approach. But that doesn’t always work and ABN AMRO has so-called Financiële Grip-Coaches in place to help out clients that find it hard to shake off debt. These certified budget coaches have assisted over 40,000 ABN AMRO clients in the past few years.
  • ABN AMRO is also a member of the Nederlandse Schuldhulproute (NSR), an initiative to help clients who are at risk of sliding into debt and to prevent problematic debt.
  • We have a range of methods to flag payment issues at an early stage or even to head them off before they arise by pro-actively contacting clients and seeking a solution together.

Codes of conduct

ABN AMRO complies with the code of conduct drawn up by the Dutch Banking Association (NVB) in close consultation with the authorities and the banking sector. These codes of conduct set out minimum criteria for responsible lending that banks are required to observe. Individual banks are free to pursue more rigorous policies, but must comply with the code of conduct at the very least.


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