November 13 2025
Openbank makes the difference in a landscape where most Dutch couches continue to lower their savings rates to almost zero. The sofa has announced that new customers can enjoy a savings interest rate of no less than 3% for the first three months.
A brief upward trend was observed in savings interest rates in 2023 and 2024. Rising inflation led to an interest rate hike by the European Central Bank three years ago. Since many banks base their savings interest rates on this, interest rates on savings accounts also rose to 3,5%.
In the summer of 2024, the European regulator concluded that inflation was sufficiently under control, creating room for an interest rate cut. Banks followed this downward trend. Today, most major banks typically offer savings interest rates of 1 to 1,25%.
Openbank, the Santander Group's online bank, hopes this move will set it apart. The 3% interest rate applies to new customers for the first three months and applies to balances up to €1.000.000 in the Welcome Savings Account. After this period, the interest rate reverts to the standard rate of 1,90%, which is still higher than what most Dutch banks offer.
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