Rabobank next bank to introduce negative interest rates for balances over EUR 250,000 Euro

Rabobank is changing the interest rate for its current, savings and investment accounts because of the continuing low interest rates in the market. The rate change will take effect from 1 January 2021. From that date, a credit interest rate of - 0.5% will apply to both private and business customers for the portion of the credit balance over € 250,000. The interest will be calculated per account.

Interest adjustment for private customers

For private customers with a balance of less than € 250,000 nothing changes. Rabobank pays an interest rate of 0.01% on private savings and investment accounts up to € 250,000. On private current accounts, the interest rate will remain 0% for balances up to € 250,000.

Interest adjustment for business customers

Equally nothing will change for business customers with a balance of up to € 250,000. Rabobank pays an interest rate of 0.01% on business savings accounts up to € 100,000; above that, the interest rate is 0% up to € 250,000. On current and investment accounts, the interest rate will remain 0% for the part of the balance up to € 250,000.

It still makes sense to save

Even after these adjustments, 98.7% of all private and business customers will still be exempt from negative interest rates. Rabobank would like to keep the numbers of customers in this group and the related thresholds as high as possible, but unfortunately cannot give any guarantees in view of continuing low interest rates.

Despite the fact that interest rates have been low for quite some time, customers are continuing to save. Rabobank strongly encourages this as financial self-sufficiency is high on our societal agenda. It is important for people to have a buffer for things like unexpected expenses, children’s education fees, the consequences of COVID or taking early retirement.


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