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Everything you need to know about the Savings Deposit

What is a Savings Deposit (Spaar Deposito)?

  • 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. You can choose from terms of 5 or 10 years. The interest rate for the term you choose is fixed.

  • When you open a Savings Deposit (Spaar Deposito), you can choose between annual or monthly interest. Your choice cannot be changed.

  • You can deposit money in the account several times per term. The time at which you deposit the money determines the interest that you earn.

Terms and Conditions

Terms & Conditions of the Spaar Deposito (pdf, 60kB)
Voorwaarden Spaar Deposito (pdf, 63kB)

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

Who is it for?

  • For private individuals.

  • For private pension companies.

  • For non-commercial, non-profit foundations and associations.

Interest rate

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

    Savings 5 year fixed: 0.05%
    Savings 10 year fixed: 0.80%.

  • Monthly interest
    If you choose to receive interest once a month, you will receive 0.25% less interest. You cannot choose monthly interest for a Savings Deposit (Spaar Deposito) with a term of 1, 2 or 3 years.

  • Maximum amount
    Interest is earned up to a maximum amount of €10,000,000. This is the total amount of your deposits in all your Term Deposit accounts together. Interest is not earned on the amount that exceeds €10,000,000. If you save more than that, read about 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.

When is interest paid?

  • Annual interest is credited to your account once a year on the same day on which you made the first deposit.

  • Monthly interest is credited to your account once a month on the same day on which you made the deposit.

  • You will see the credit in the list of debits and credits within three working days.

  • The term for each deposit starts on the day that you deposit the amount in your savings account.

Can I reinvest the interest?

  • Savings Deposit (Spaar Deposito) with annual interest
    Annual interest can be credited to an ABN AMRO current or savings account, or to your Savings Deposit (Spaar Deposito). Interest credited to the Savings Deposit (Spaar Deposito) will earn interest over the remainder of the term. You choose whether you want to receive annual or monthly interest when you open the account. You cannot change this option.

  • Savings Deposit (Spaar Deposito) with monthly interest 
    Monthly interest is always credited to an ABN AMRO current account or savings account.

Depositing money

The Savings Deposit (Spaar Deposito) has a minimum deposit amount.

  • Initial deposit
    At least €500 if you choose annual interest.
    At least €5,000 if you choose for monthly interest.

  • Subsequent deposits
    At least €500 if you choose annual interest
    At least €5,000 if you choose monthly interest.

  • The term for each deposit starts on the day that you deposit the amount in your savings account.

Withdrawing money

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

  • If you withdraw money before the end of the term, you will pay a penalty.

  • The penalty of 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 over the number of days that the money was in your Savings Deposit (Spaar Deposito). 

    Example 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

Deposit guarantee scheme

This savings account is covered by the deposit guarantee scheme. This scheme protects  you if ABN AMRO Bank is no longer able to meet its obligations. Information about the deposit guarantee scheme and any exclusions from cover that may be relevant to you can be found on the Depositor Information Template. For more information and the Depositor Information Template, go to abnamro.nl/guarantee-scheme.

Changing the account number

When you open a Savings Deposit, you specify the account into which you would like the savings and the interest to be credited at the end of the term. You can change this account number. If you want to change your account number, call 0900 - 81 70 (explanation of the rates) or come to one of our branches.

Closing the savings account

To close your Savings Deposit call 0900 - 81 70 (explanation of the rates) or come to one of our branches. If there is still money in your Savings Deposit a fee is charged when you close the account. For more information, see 'Withdrawing money'.

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