Santander Consumer Banks, an internet bank, is reducing interest rates on its Belgian savings accounts for the fourth time in six months, according to a statement to its savers. These interest rate reductions are the result of successive interest rate cuts by the European Central Bank.
The previous changes took place on October 1, November 5 and December 16 respectively. Effective March 16, Santander Consumer Bank is reducing the base rate on a Vision account from 1,60 percent to 1,40 percent. However, the loyalty bonus remains unchanged at 0,40 percent.
For the Vision Plus account, the loyalty premium decreases by 0,10 percentage points to 1,40 percent. The base interest rate also decreases by 0,10 percentage points to 0,65 percent.
For the Vision Max account (for amounts from 125.000 to 300.000 euro) reduces the base rate from 0,90 percent to 0,70 percent. However, the loyalty bonus remains unchanged at 1,50 percent.