Savings Deposit

Savings Deposit

Know exactly what you'll get

Savings Deposit

  • Fixed interest rate and term
  • Choose from several terms

Fixed interest rate

A Savings Deposit (Spaar Deposito) is a savings account in which you deposit money for a longer period of time, or term. You choose the term: 5 or 10 years. The interest rate is fixed during the term. Please note that the interest on a Savings Deposit may be lower than on a flexible savings account with variable interest.

Please note: the terms and conditions for this product will change with effect from 1 January 2020. The changes are already listed on this page. For more details please see: www.abnamro.nl/changes-savings-deposit.

More information

Interest

When you open a Savings Deposit account, you choose whether you want to receive interest annually or monthly. Please note: from 1 January 2020, it will no longer be possible to opt for monthly interest when making a new deposit. It is then also no longer possible to automatically deposit the interest on the Savings Deposit, also known as interest on interest.

Annual interest 

If you choose to receive interest once a year, the following interest rates apply:

  • Savings fixed for 5 year: 0.00% 
  • Savings fixed for 10 year: 0.15%

Monthly interest 

If you choose to receive interest once a month, your interest rate will be 0.25% lower. You cannot opt for monthly interest on a Savings Deposit (Spaar Deposito) with a term of 1, 2 or 3 years. From 1 January 2020, you can no longer choose monthly interest when making a new deposit.

Maximum amount  

Interest is payable on a maximum amount of € 10,000,000. This is the total amount of your deposits in all your Savings Deposit accounts together. Interest will not be paid on any amount above € 10,000,000. If you want to save an amount higher than this, read about savings at ABN AMRO MeesPierson

You can deposit money in a Savings Deposit (Spaar Deposito) several times during the term. A deposit is subject to the interest rate that is applicable at the time the deposit is made.

Opening a deposit

If you would like to open a Savings Deposit, please call us on 0900 - 81 70 (standard call charges apply). If you are calling from outside the Netherlands, please dial +31 10 - 241 17 23. Anyone with an ABN AMRO account can currently still open a Savings Deposit account. From 1 January 2020, only private individuals and private pension BVs will be able to do so.

Deposits

The following minimum amounts must be deposited into a Savings Deposit account: 

  • At least €500 if you opt for annual interest
  • At least €5000 if you opt for monthly interest. As of 1 January 2020, it will no longer be possible to opt for monthly interest when making a new deposit. 

Each time you make a new deposit, the term for that specific deposit will start on the day you make the deposit. You can make multiple deposits for each Savings Deposit. The applicable interest is determined by the date on which the deposit is made. From 1 January 2020, we may stop new deposits temporarily, meaning that you will be unable to deposit into your Savings Deposit account. The active deposits will not be affected by this. You will be able to resume making new deposits when we decide to allow them again. Any decision to stop and/or allow deposits will be announced on this page.

Withdrawals

At the end of the term you set for your Savings Deposit (Spaar Deposito), the amount is transferred to either your ABN AMRO current account or a savings account.

  • If you withdraw money before the end of the term, you will pay a penalty.
  • The penalty is 1% of the amount that you withdraw times the remaining term. The penalty is never more than 6% of the amount that you withdraw. You will receive interest for the number of days that the money was in your Savings Deposit (Spaar Deposito).  
  • Sample penalty calculation: your Savings Deposit (Spaar Deposito) is fixed for another four years and you withdraw € 10,000. The penalty is calculated as follows: 1% of € 10,000 =  € 100 x 4 = € 400
Changing the account number

When you open a Savings Deposit, you specify the account to which you would like the savings and interest to be credited at the end of the term. If you want to change your account number, call us on 0900 - 81 70 (standard call charges apply). If you are calling from outside the Netherlands, please dial +31 10 - 241 17 23.

Closing the account

To close your Savings Deposit, call us on 0900 - 81 70 (standard call charges). If you are calling from outside the Netherlands, please dial +31 10 - 241 17 23. Please note that if there is still money in your Savings Deposit, you will be charged a fee when you close the account. For more information, see 'Withdrawals'.

Are my savings safe?

The Savings Deposito (Spaar Deposito) is an ABN AMRO Bank N.V. banking product. ABN AMRO Bank N.V. is covered by the deposit insurance scheme, which means that any savings you have deposited with ABN AMRO Bank, ABN AMRO MeesPierson and MoneYou are consolidated. Find out more or call 0900 - 81 70 (standard call charges apply). If you are calling from outside the Netherlands, please dial +31 10 - 241 17 23.

Terms and conditions

The terms and conditions will change with effect from 1 January 2020. You can read the new terms and conditions here:

In the event of any disparity between the Dutch original and the translation, the Dutch text will prevail.

More information

When you open a Savings Deposit account, you choose whether you want to receive interest annually or monthly. Please note: from 1 January 2020, it will no longer be possible to opt for monthly interest when making a new deposit. It is then also no longer possible to automatically deposit the interest on the Savings Deposit, also known as interest on interest.

Annual interest 

If you choose to receive interest once a year, the following interest rates apply:

  • Savings fixed for 5 year: 0.00% 
  • Savings fixed for 10 year: 0.15%

Monthly interest 

If you choose to receive interest once a month, your interest rate will be 0.25% lower. You cannot opt for monthly interest on a Savings Deposit (Spaar Deposito) with a term of 1, 2 or 3 years. From 1 January 2020, you can no longer choose monthly interest when making a new deposit.

Maximum amount  

Interest is payable on a maximum amount of € 10,000,000. This is the total amount of your deposits in all your Savings Deposit accounts together. Interest will not be paid on any amount above € 10,000,000. If you want to save an amount higher than this, read about savings at ABN AMRO MeesPierson

You can deposit money in a Savings Deposit (Spaar Deposito) several times during the term. A deposit is subject to the interest rate that is applicable at the time the deposit is made.

If you would like to open a Savings Deposit, please call us on 0900 - 81 70 (standard call charges apply). If you are calling from outside the Netherlands, please dial +31 10 - 241 17 23. Anyone with an ABN AMRO account can currently still open a Savings Deposit account. From 1 January 2020, only private individuals and private pension BVs will be able to do so.

The following minimum amounts must be deposited into a Savings Deposit account: 

  • At least €500 if you opt for annual interest
  • At least €5000 if you opt for monthly interest. As of 1 January 2020, it will no longer be possible to opt for monthly interest when making a new deposit. 

Each time you make a new deposit, the term for that specific deposit will start on the day you make the deposit. You can make multiple deposits for each Savings Deposit. The applicable interest is determined by the date on which the deposit is made. From 1 January 2020, we may stop new deposits temporarily, meaning that you will be unable to deposit into your Savings Deposit account. The active deposits will not be affected by this. You will be able to resume making new deposits when we decide to allow them again. Any decision to stop and/or allow deposits will be announced on this page.

At the end of the term you set for your Savings Deposit (Spaar Deposito), the amount is transferred to either your ABN AMRO current account or a savings account.

  • If you withdraw money before the end of the term, you will pay a penalty.
  • The penalty is 1% of the amount that you withdraw times the remaining term. The penalty is never more than 6% of the amount that you withdraw. You will receive interest for the number of days that the money was in your Savings Deposit (Spaar Deposito).  
  • Sample penalty calculation: your Savings Deposit (Spaar Deposito) is fixed for another four years and you withdraw € 10,000. The penalty is calculated as follows: 1% of € 10,000 =  € 100 x 4 = € 400

When you open a Savings Deposit, you specify the account to which you would like the savings and interest to be credited at the end of the term. If you want to change your account number, call us on 0900 - 81 70 (standard call charges apply). If you are calling from outside the Netherlands, please dial +31 10 - 241 17 23.

To close your Savings Deposit, call us on 0900 - 81 70 (standard call charges). If you are calling from outside the Netherlands, please dial +31 10 - 241 17 23. Please note that if there is still money in your Savings Deposit, you will be charged a fee when you close the account. For more information, see 'Withdrawals'.

The Savings Deposito (Spaar Deposito) is an ABN AMRO Bank N.V. banking product. ABN AMRO Bank N.V. is covered by the deposit insurance scheme, which means that any savings you have deposited with ABN AMRO Bank, ABN AMRO MeesPierson and MoneYou are consolidated. Find out more or call 0900 - 81 70 (standard call charges apply). If you are calling from outside the Netherlands, please dial +31 10 - 241 17 23.

The terms and conditions will change with effect from 1 January 2020. You can read the new terms and conditions here:

In the event of any disparity between the Dutch original and the translation, the Dutch text will prevail.