The chance that savings interest rates will rise in 2015 is small. In fact, there is a greater chance that the average savings interest rate will fall below 1%.
Bad year for savers
2014 is going to be a bad year for savers. The savings interest is historically low. Due to a series of interest rate cuts, the average interest rate savings in 2014 fell from 1.47% to 1.25%. To underline this, Good Finance lowered the interest rate to 1% on the last day of the year.
Why does the interest rate fall?
The low interest rate savings is largely due to the interest rate policy of the European Central Bank (ECB). The policy interest rate is kept low to stimulate the economy. This makes borrowing attractive and saving unattractive. The Euribor interest rate is therefore a good indicator for savings interest.
The savings interest in 2015
We do not expect an increase in savings interest rates for 2015. The ECB has indicated that it will continue its current interest rate policy in 2015. In fact, when necessary, the emergency measures will be expanded. The savings interest rate may therefore fall even further.
Savings interest below 1%
There is a chance that the average savings interest will fall below 1%. Savings rates are already around this psychological limit. They are currently at the bottom of the savings interest overview. The biggest competition at the moment comes from online banks without large offices.
No major shifts expected
The Dutch are loyal to their home bank, where they have several financial products. It can nevertheless be interesting to move your savings (in part) for a higher interest rate. View our savings interest overview for the best offers at the moment. There are also regular temporary promotions with attractive savings rates. Register for our Interest Rate Flash and don’t miss an interest deal.