Belgian banks trim savings accounts rates

Belfius is the latest of large Belgian banks to have announced a cut of its savings accounts interests rates.

Its traditional saving product’s rate will be lowered to 0.05% with a fidelity premium of 0.10% as from 1 February 2016.

BNP Paribas Fortis and KBC will apply the same rate.

The banks have justified the drop by the lasting low-rate environment.

The Belgian law insures a 0.01% interest rate minimum with a fidelity premium of 0.10%.

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