Frans van der Horst on loans and overdrafts at ABN AMRO

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Loans and overdrafts, and the associated costs, have been the subject of questions from the media, politicians and clients recently. “What is ABN AMRO doing for clients who want to borrow money during the coronavirus pandemic? How much does that cost? Aren’t interest rates far too high, especially considering how ABN AMRO was bailed out using public funds?”

At the same time, people have other questions: “What does ABN AMRO do if a coronavirus payment break isn’t enough, if deferral no longer helps? What if clients have payment difficulties that are unrelated to the pandemic?”

ABN AMRO’s CEO of Retail Banking Frans van der Horst discusses the situation and answers the most frequently asked questions. You can watch the video below.

Recent developments concerning overdrafts

On 6 May 2020, ABN AMRO decided to relax its policy on overdrafts, to help clients facing temporary financial difficulties as a result of the pandemic. Clients will be given a one-time 90-day extension on their overdrafts without needing to have a positive bank balance at least once in a 90-day period.

ABN AMRO recently lowered its interest rate on overdrafts. You can find out more here.

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