2023-07-31 17:36:00
Inflation obliges, the European Central Bank (ECB) raised its key rates in July for the ninth time (!) in less than a year. Its objective is clear: aim for an inflation rate of 2% in the medium term, whereas it still stood at 6.4% last June. Faced with this crisis, banks are also being forced to adapt their various rates.
In Belgium, Belfius was the first major bank to readjust them from 1 July. The basic rate of the classic savings account has gone from 0.35% to 0.45%, while its loyalty bonus is no longer 0.15% but 0.45%.
From this Tuesday, August 1, five banks will in turn have increased their various rates. The interest rate of the classic savings account at BNP Paribas Fortis goes from 0.15% to 0.25% and the loyalty bonus to 0.25% against 0.10% previously. Beobank sees bigger since the loyalty bonus rises to 0.45%. The same applies to this premium for KBC and CBC which, for their part, increase the interest rate on the ordinary savings account from 0.35% to 0.45%. Finally, at ING, the cumulative interest rate could exceed 2% in certain cases. 300 billion euros in Belgian savings accounts
It’s not just the big Belgian banks that are adjusting their savings rates. Indeed, several outsider banks are also increasing their rates… and are very high. At the top of the ranking of the largest overall savings rate, we find Santander Consumer Bank with 2.5%. MeDirect (2.3%), Keytrade (2.10%), VDK Bank (2%) and Argenta (2%) complete the top 5.
What makes Belgians want to save more? In any case, the total amount on Belgian savings accounts is 300.28 billion euros. This is the first time that this amount has increased since January. It must be said that an increase in savings rates is good news for Belgian savers. A little less for inflation, which remains high at 4.15% in Belgium.
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