July 16, 2026
Although the European Central Bank Although the ECB has adjusted its interest rates multiple times, the National Bank has observed that these changes are often delayed and have only a limited effect on higher savings rates. “Banks often implement interest rate cuts faster,” says Kenneth Vansina, financial expert at Mijnvergelijker.be.
Belgians generally switch banks little with their savings, as a result couches In the past, they felt less pressure to raise savings interest rates. However, this time it was different. Several banks announced an increase in savings rates even before the ECB's decision. Banks such as Belfius, ING, and Vdk raised the base interest rate for various savings accounts, resulting in a total interest rate of up to 3,10%.
Belfius and ING expect the ECB to maintain a neutral course in 2026, with a possible further interest rate hike in the fourth quarter. “It is possible that the ECB will raise the deposit rate by another 0,25%, but that should be sufficient,” says Peter Vanden Houte, Chief Economist at ING. “Therefore, not many further increases in savings rates are to be expected this year, as the banks have already anticipated the ECB's rising interest rates.”
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