Negative interest

Changes in interest rate policy

As of the 1st of July 2021, the limit above which you will pay negative interest, is lowered to a total balance of € 150,000.

From 1 January 2022, this limit will be € 100,000.

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Current interest rates and maximum savings balances

You can find the current interest rates, maximum amounts and conditions of our corporate savings accounts on the page with the current savings interest rates.

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Questions about the letter?

We have compiled a list of FAQs with answers. If your question is not listed here, please get in touch with your contact person within the bank or call 088 - 226 26 26 (standard charges apply). From outside the Netherlands: +31 (10) 241 17 20 .

FAQs about negative interest on your euro account

This depends on which balance tier you fall in. In the current situation, negative interest is charged on the total balance held in the name of a single legal entity or natural person. The balances in all business payment and savings accounts within your company are added together. You pay negative interest on the balance in balance tiers upwards from € 150,000. This will be € 100,000 from 1 January 2022.

If you and your company are separately registered with us, we will treat you and your company as separate clients and your balance tiers will be calculated separately.

The bank can determine what interest rate is applicable above a certain balance. This results in balance tiers. The interest rates and the balance tiers are not fixed. The bank may change these at any time. For the current interest rates and balance tiers, go to 

A balance tier can also apply to all balances in your payment and savings accounts as well as all payment and/or savings accounts held in your name together with co-account holder(s). We call this the total balance. 

If a balance is held with co-account holder(s), each co-account holder is assigned an equal portion of that balance for the calculation of his or her total balance. 

Balance tiers from 1 July 2021

Balance tier (total balance of payment and savings accounts)* Interest*
€ 0 till € 100,000 0%
€ 100,000 till € 150,000 0%
From € 150,000 - 0,50%

*Balance tiers and interest rate are not fixed and may change.

  • Bank Guarantee Cover Account
    The Bank Guarantee Cover Account is a savings account exclusively for moneys that serve as security for a bank guarantee. The balance in this account is blocked until the bank guarantee expires.

  • G-Account
    The G-Account is only allowed to be used to make tax and social security payments to the tax authorities or sub-contractors.
Client ABC B.V. Balance Amount included in negative interest calculation
Business Account € 250,000 € 250,000
Overdraft Facility € -250,000 € -250,000
Business Savings Account 1 € 2,000,000 € 2,000,000
Business Savings Account 2 € 2,000,000 € 2,000,000
€ 4,000,000

The balance on which negative interest is calculated is
€ 4,000,000 - € 150,000 = € 3,850,000

Client ABC B.V. Balance Amount included in negative interest calculation
Business Account € 600,000 € 600,000
Guarantee account* € -1,000,000 0
Business Savings Account € 2,000,000 € 2,000,000
G-account* € 500,000 0
Bank Guarantee Cover Account* € 1,000,000 0
€ 2,600,000

The balance on which negative interest is calculated is
€ 2,600,000 - € 150.000 = € 2,450,000

* Excluded from negative interest

The European Central Bank (ECB) lends money to banks at low rates. This enables banks to lend to businesses at cheaper rates. Normally, banks also receive interest on money that they do not lend and are required to maintain in a deposit with the ECB. This is the deposit rate.

Since June 2014 the deposit rate has fallen so far that it has now sunk below 0%. In fact, it is currently as low as -0.50%. This means that banks currently do not receive interest, but are actually required to pay interest to the ECB. These costs, in turn, are passed on to clients in the form of negative interest.

ABN AMRO already started some time ago to charge negative interest to ultra-high net worth clients and large corporate clients.

A more detailed explanation of the low interest rates can be found u here (in Dutch).

In the case of specific circumstances, such as developments in the money and capital markets, the bank can charge negative interest.

The interest rate for clients turns negative if the ECB rate remains below 0% for a prolonged period of time. ABN AMRO wants to spare clients with a limited total balance in their accounts insofar as possible. This is the reason for introducing balance tiers per client.

Interest rates are driven by the interest rate policy pursued by the European Central Bank (ECB). The ECB has consistently reduced the European deposit facility rate, which means that Dutch banks pay high costs for placing savings balances with the ECB. The bank is obliged to place part of its balances with the ECB. 

We have charged large parties negative interest under tailor-made arrangements for some years now. At the beginning of 2020, we informed clients about the introduction of negative interest rates as of 1 April 2020. At present, we charge negative interest when the total balance of your current and savings accounts is above € 150,000. The reason is that money in the capital market is cheaper than savings, partly because of the low interest rate environment. Banks incur costs to place surplus savings. The ECB, for instance, charges banks 0.5% interest for deposits.

The ECB is applying a negative savings rate to boost the economy. According to the Central Bank, low interest rates encourage investment, which means that more money is lent and less is saved.

The future is hard to predict, so we will need to continuously reassess the situation. We make no statements about possible rate cuts (nor are we allowed to do this).

The future is hard to predict, so we will need to continuously reassess the situation. We make no statements about possible reductions (nor are we allowed to do this).

Yes, any current account debit balances that exist within the same company are included in the total calculation. In such situations, for reasons of working capital management we advise you to keep your credit funds in a current account instead of in a separate savings account, where possible.

You pay negative interest for a ‘calendar quarter’, i.e.: 

  • quarter 1: January, February, March 
  • quarter 2: April, May, June 
  • And so on. 

We will charge the interest in the month following a calendar quarter. We do this in the second half of that month (January, April, July, October).

The negative interest will be charged to your company’s main account.

By ensuring that the total credit balance in your company’s accounts remains below € 150,000.

Clearly, as indicated by the ECB, you may also consider making any desired investments or balancing your longer-term working capital and your outstanding debts as efficiently.

We have chosen a different form of calculation. After all, it might be possible that a client forgets to transfer a balance from an account that exceeds the balance tier to an account that is still below the balance tier. Paying negative interest, in this example, would be unfair in our opinion. 

By calculating the negative interest on a client level, all accounts belong to the same balance tier and will be charged proportionately.

If you owe the bank negative interest for a particular quarter, you will be sent your negative interest statement at the end of the month following that quarter (i.e. at the end of April, July, October and January).

Online statement

If you have opted for online statements of one or more current or savings accounts, you will be able to view your negative interest statement in your Internet Banking for Business environment with effect from July 2021.

To view the statement:  

  • Log in to Internet Banking or the ABN AMRO app.
  • Go to the Self service tab
  • Choose 'Your products & services'-> "Download your annual statements and summaries".
  • In the drop down menu you can choose the type of the overview. Only the owner of the account has insight and can download the statement Negative Interest.

We will notify you via bankmail as soon as the statement is available in Internet Banking for Business. 

Physical copy 

If you have opted to receive physical copies of all your statements, you can also expect to receive a physical copy of the negative interest statement. We will send it to you by post. The statement will also be available to you in digital format in Internet Banking for Business. There will be no changes for you if you use Access Online rather than Internet Banking for Business. In that case, we will continue to send you physical copies of your statements, including the negative interest statement.

FAQs about negative interest on your Foreign Currency Account

You pay negative interest on the entire balance of the Foreign Currency Account for which the base rate is negative in the currency concerned. The interest rate always depends on the current benchmark interest rate for that specific currency. For example: if the benchmark interest rate of your Foreign Currency Account is -0.25%, you will pay 0.25% on the entire credit balance. If the interest rate is 0% or higher, the credit interest rate is established in line with the current conditions.

You will pay negative interest per quarter, i.e.:

  • Quarter 1: January, February, March.
  • Quarter 2: April, May, June.
  • Quarter 3: July, August, September.
  • Quarter 4: October, November, December.

Each quarter runs from the last day of the month to the last day of the month, for example from 31 December to 31 March. 

We always charge interest in the month following a calendar quarter: in early January, April, July and October. 

The negative interest will be settled in the Foreign Currency Account.

You can find the benchmark interest rate for Foreign Currency on our overview page.