Despite low interest rates, savings account remained a fixed value in 2021 | Economy

At KBC, there was about 53.79 billion euros in regulated savings accounts on 31 December 2021, an increase of 7.5 percent (3.75 billion euros) compared to a year earlier. At Belfius, savings accounts held about 47.9 billion euros on 31 December last year, an increase of 6.5 percent (2.9 billion euros) compared to a year earlier.

The low interest rate makes it less attractive for customers to transfer money from a checking account to a savings account. Belfius has therefore established that a great deal of liquidity remains on customers’ current accounts. The growth in circulation on current accounts was again very pronounced at Belfius last year, at 15 percent (in 2019 the growth was 17 percent, in 2020 as much as 26 percent).

KBC also indicated on Monday that customers are increasingly finding their way to the investment range. According to the bank, digital applications appear to help overcome the investment threshold. Spreading in with small amounts also makes investing more and more accessible, it sounds like. Interest in term investments remained low due to the persistent low interest rate environment.

KBC also sees the market movement towards sustainable and socially responsible investment funds accelerating further. Today, more than half of Belgian investors at KBC opt for such a fund. The investment in such funds has tripled at KBC in two years. In the third quarter of last year, the figure came to 22.2 billion euros.

Belfius also reported on Monday a clearly increased demand for funds related to sustainable themes such as mobility, the well-being of children, (gender) equality, climate change, well-being and good health. These demographic, economic, technological and ecological megatrends are causing fundamental shifts in our society, according to Belfius.