Negative interest Rabobank for credit above EUR XNUMX million

Rabobank will charge negative interest from 1 July for balances above €100.000. The banking industry announced this today (Wednesday, April 28). Rabobank says it is forced to do this because of the persistently low interest rates in the market.

From the middle of this year, a credit interest of –0,5% will apply to both private and business customers for the part of the balance above €100.000. The interest is calculated per account, Rabobank reports, and not per customer. Nothing will change for private customers with a balance of up to €100.000.

Rabobank pays an interest of 100.000% on private savings and investment accounts up to and including €0,01. Interest on private current accounts remains 0% for balances up to and including €100.000.

Not the first bank
Rabobank is not the first bank to announce a negative interest rate for assets above €100.000. ING Bank, Regiobank, SNS Bank and ASN Bank, among others, previously reported that they would lower interest rates to -1% as of 0,5 July. ABN Amro uses this percentage for savings above €150.000. Until now, almost all major banks charged a negative interest rate for savings higher than €250.000 or €500.000.

With the interest rate cut, 95,8% of all private and business customers will still be exempt from negative interest, says Rabobank. The company cannot give any guarantees that a larger proportion of customers will have to deal with negative interest rates in the future. The bank says in the statement that it still 'strongly' encourages saving. The European Central Bank (ECB) keeps interest rates extremely low to discourage saving and boost spending. This should keep the economy going.

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