Interest rate reduction on savings accounts at Kbc

KBC announces a reduction in the base rate on its savings accounts. As of Saturday, the base rate will be reduced from 0,45 percent to 0,40 percent. In addition, the loyalty bonus, which savers receive when they leave their money in the account for twelve months, will be reduced from 0,45 to 0,40 percent. As a result, the total return on the classic KBC savings account will decrease from 0,90 to 0,80 percent.

Lowering Interest Rates on Other Accounts

In addition to the classic savings account, the savings accounts for third parties, the rental deposit savings account and the rental deposit savings account (build-up) will also have the same reduced interest rate from Saturday.

From Saturday, KBC will guarantee a total return (basic interest plus loyalty bonus) of 0,80 percent on its classic savings accounts. The interest rates for the other regulated savings formulas will remain unchanged, according to the sofa. Earlier this year, KBC had already implemented an interest rate cut for its Start2Save and Start2Save4 accounts. These accounts, where customers can save up to 500 euros per month, offer a total return of 2,25 percent.

Influence of the European Central Bank

The new rate cut follows a decision by the European Central Bank (ECB) to cut its policy rate for the fourth time in a row. Ahead of this expected move, several couches already lowered the interest rates on their savings accounts. Last week, Belfius decided to bring the total interest on its traditional savings accounts below 1 percent for the first time in over a year. Belfius was the last major bank to lower the rates on its traditional savings accounts below this threshold.

Questions & Answers

What are the new interest rates at KBC?

As of Saturday, the basic interest rate on savings accounts at KBC will be reduced from 0,45 percent to 0,40 percent. The loyalty bonus will also be reduced from 0,45 to 0,40 percent. As a result, the total return on the classic savings account will drop from 0,90 to 0,80 percent.

Which accounts are affected by the interest rate cut?

In addition to the classic savings account, the interest rates for savings accounts for third parties, the rental deposit savings account and the rental deposit savings account (build-up) are also being reduced.

Why is KBC lowering the interest rates on its savings accounts?

The rate cut follows a decision by the European Central Bank to lower its policy rate for the fourth time in a row. In response, several banks, including KBC, have lowered the interest rates on their savings accounts.