Good news for your money: Savings account rates are on the rise again

NIBC Direct was an exception: the online bank had taken only a few days to revise its rates upwards, starting in July. A revision at the time of… 0.05% of its loyalty bonus. Not enough to protect against galloping inflation but a first step all the same. We will have to wait until September to see other brands take the plunge, niche or small banks first. But for a few days, the big institutions are getting started.

Fortis has not yet changed its rates

After KBC and Belfius, ING took the plunge by announcing that it would set the base rate at 0.40% on all its traditional savings accounts and the loyalty bonus at 0.10%. To date, Fortis is the only one of the four main banking players in Belgium not to have made any move in this direction. The overall rate of his ordinary savings account remains blocked at 0.11%, the minimum legal threshold in Belgium.

However, the increases announced in recent days remain limited in view of the 10.35% inflation recorded in December in Belgium. And to benefit from a more advantageous rate, it is often necessary to comply with certain conditions.

The best return offered by ING from 9 January will concern the “ING Savings Tempo” account. The overall rate (0.70% base + 0.70% loyalty) will be 1.40%. But to be entitled to it, the saver cannot pay more than €500 per month per month.

Minimum €125,000 at Santander

Belfius has opted for a similar strategy by launching the “Belfius Fidelity savings account” from 2 January.a new specific regulated savings account, offering a significantly higher loyalty bonus and intended for customers who intend to save over the longer term a sum of money that will in principle not be used during the year“.

The rate offered shows 0.15% base rate and 0.65% loyalty bonus, i.e. nearly 40% per month than with competitor ING. But above all, a much lower yield than with smaller players like Santander.

According to the data taken from the online comparator of the guide-epargne.be site, the leading Spanish bank offers the best overall rate in Belgium: 1.60% (0.80% base rate + 0.80 % loyalty bonus). But to be entitled to it, it will be necessary to deposit on the savings account an amount of 125,000 € minimum and 200,000 € maximum, confirming the adage according to which “We only lend to the rich”.