Why the banks are lowering the interest on savings accounts one by one and why the term deposit accounts also yield less

It will not be a pleasant New Year’s Eve financially for savers. After BNP Paribas Fortis, KBC and vdk, among others, ING is now also reducing the rates on its savings accounts at New Year’s Eve. The interest on term deposits is also plunging: in September – when 22 billion euros were released after the successful government bond – the rates at the banks were still 3.80 percent, now the highest return is just 2.60 percent gross in one year. But there is also some good news for savers.

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