Economy
This Is Why You Are Not Getting More Interest on Your Savings
Dutch consumers are receiving lower interest rates on savings despite ECB rate hikes, with major banks like Rabobank, ING, and ABN AMRO offering significantly less than smaller competitors. Harald Benink, a professor at Tilburg University, attributes this to consumer inertia and trust in domestic banks, noting that without switching, banks have little incentive to raise rates. While smaller banks offer up to 3 percent under specific conditions, the big three cap their rates at 1.5 percent. The banks defend their positions by citing lending practices and economic outlooks, though the ACM previously suggested tacit coordination among them. Ultimately, the disparity persists as long as savers remain with their current institutions.
Ozetta summarises; the reporting is the newsroom's