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%.