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%.

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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