Changes from 1 January 2022

 

Negative interest

As of 1 January 2022 the threshold above which you will pay negative interest will be lowered to a total balance of € 100,000. We determine which balance class(es) you fall into by adding up the balances on all of your current and savings accounts. Joint accounts are included proportionately in the calculation.

Balance class (total balance on current and savings accounts)* Interest rate from 1 January 2022* Current interest rate*
€0 to € 100,000 0% 0%
€100,000 to € 150,000 -0.50% 0%
Above € 150,000 -0.50% -0.50%

*Balance classes and interest rates are subject to change. The interest is annually.

More information about negative interest.

View the current interest rates here.

Calculation example 1 - As of 1 January 2022

Let’s say you have €50,000 in a current account in your own name and €60,000 in the joint savings account you share with your partner. Of the balance on the joint savings account, 50% is included in the calculation of your total balance. In this example, you have a total balance of €80,000 (€50,000 + €30,000). This puts you in the first balance class*, meaning you don’t need to pay negative interest. 

*Balance class €0 to €100,000.

Balance class Your balance in the balance class Interest rate Daily interest
€0 to €100,000 €80,000 0% €0
From €100,000 €0 -0.50% €0

Calculation example 2 - As of 1 January 2022

Let’s say you have two savings accounts in your own name, each with a balance of €100,000. You also have a joint savings account with your partner and the balance on that account is €350,000. Of the balance on the joint savings account, 50% is included in the calculation of your total balance. In this example, you have a total balance of €375,000 (€100,000 + €100,000 + €175,000). Your total balance falls under both balance classes*.

*Balance class €0 to €100,000 and balance category from €100,000.

Balance class Your balance in the balance class Interest rate Daily interest
€0 to €100,000 €100,000 0% €0
From €100,000 €275,000 -0.50% €-3.77*

*-0.50% of €275,000 is €-1,375 on an annual basis. €-1,375 / 365** days is €-3.77 interest on a daily basis.

**Leap years are calculated on the basis of 366 days.

Compensation arrangement

Do you invest with us? Then you will possibly temporarily receive a compensation of a part of the negative interest. This compensation is deducted from the negative interest you have to pay. Read more about the compensation arrangement and the changes as of 1 January 2022.

More about this compensation arrangement

Negative interest on Rechtbankrekeningen (estate accounts)

As of 1 January 2022 the threshold above which you will pay negative interest will be lowered from € 150,000 to € 100,000. The calculation of negative interest on the Rechtbankrekening (estate account) deviates from how we calculate the negative interest on the other current and savings accounts. The negative interest is calculated per account as every Rechtbankrekening (estate account) is regarded as a personal bankruptcy or debt restructuring (Wsnp). Per account the threshold above which you will pay negative interest of € 100,000 applies. You will pay negative interest per month, we charge this in the following month.

Let's say you have 4 Rechtbankrekeningen (estate accounts):

Account Balance Interest rate Daily interest*
1 € 80,000 0% € 0
2 € 120,000 0.5% over €20,000
(€120,000 -/- €100,000)
€ 0.27
3 € 320,000 0.5% over €220,000
(€320,000 -/- €100,000)
€ 3.01
4 € 60,000 0% € 0

*Leap years are calculated on the basis of 366 days.

Direct Quarterly Savings

Your Direct Quarterly Savings (Direct Kwartaal Sparen) account will automatically change to a different savings account in January 2022. Depending on your usage, Direct Quarterly Savings will change to Direct Savings, an Investment Savings Account, Zakelijk Flexibel Sparen or a Charitas Savings Account. You do not have to take any action for this. Your account number and balance will stay the same.

Read more about Direct Quarterly Savings

Negative reference rate for certain foreign currencies

Do you have an account in foreign currency with us? So far, we have not charged any negative interest in relation to foreign currency. With effect from 31 December 2021 we will start to charge negative interest on balances in a foreign currency with a negative reference rate. In that case, you will pay this interest on your entire positive balance.

The currencies to which this currently applies are the Swiss franc, Danish krone, Swedish krona and Japanese yen. If the reference rate for any other foreign currency becomes negative, we will charge negative interest on balances in that currency as well. Reference rates are set daily or monthly. More information such as current interest rates and conditions can be found at abnamro.nl/foreigncurrencyaccount.