October 4, 2023

Taylor Daily Press

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Argenta pays more attention to Dutch savers than to Belgian savers

Argenta pays more attention to Dutch savers than to Belgian savers

Banks offer different savings interest rates in different countries, which can sometimes vary significantly. It mainly refers to customer needs and market conditions.

The specialized Dutch website Geld.nl Investigate interest rates offered by banks active in the Netherlands, Germany and/or Belgium.


This shows, among other things, that Dutch people who open an online savings account with Argenta can count on an interest rate of 1.85 percent. Belgian customers receive an interest rate of 0.50 percent, with a loyalty bonus of 0.35 percent (0.85 percent overall).

Argenta explains in its response to Trends-Kanaal Z that Belgium and the Netherlands are very different markets for the bank. “For example, interest rates on savings and mortgages in the Netherlands are higher on average than in Belgium,” says the spokesperson. “Argenta does not have to pay banking tax in the Netherlands, but it does in Belgium. Moreover, it is only active online in the Netherlands and has to compete with other players online.

At the end of June, 6.5 percent of Argenta’s savings were in a Dutch savings account.

Elsie de Witte, personal finance expert at Trends:

“It is not surprising that banks in different countries charge different rates. This has to do with the specific context in each country. The interest rate is mainly determined by two things. On the one hand, the demand for credits: the balance sheet must be correct. And if the banks are not in Need more savings, as is currently the case in Belgium, there is no reason to offer more interest. On the other hand, there is competition in the market. It is not easy to open an account abroad. So banks look at local competition. Netherlands is known as a different market Totally in the savings accounts business.

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“Some banks, such as the small West Flemish bank CKV, offer higher interest rates to German savers, for example, via online platforms such as raisin.com and zinspilot.de. These are not offered in Belgium. So we cannot sign up for that.”


The difference seems clearer for some Dutch banks that are also active in Germany, such as ING. This bank offers interest of 1.25% in its native Netherlands, 1.50% in Belgium (including fidelity bonus) and a minimum of 3.50% in Germany. In Germany, this relates to an interest rate for new customers for the first six months of up to 50 thousand euros. The base rate is 1 percent.

Dutch banks active in Belgium adapt to the interest rates prevailing in our country. Belgian savers who deposit their money in an account with Triodos, NIBC, Medirect or Bunq get a lower interest rate than Dutch savers get at those banks. Only in ING it is slightly higher.