Best savings accounts and interest rates in the Netherlands

Whether you want high interest, flexible access, or zero fees, we've compared the top Dutch banks to help you make the smartest choice.

Lyna Meyrer
Fact-checked
Last updated 2 months ago

Lyna Meyrer
Fact-checked
Last updated 2 months ago

8.1

MyDutchWallet score

Openbank

Zero hidden fees

✨ Get 3.25% for six months with code WELKOM

Interest rate

3.25%

Why it made our list

With Openbank, there are no hidden fees — just a healthy 2.75% interest rate on savings up to €1,000,000. Savings accounts at this bank come with a debit card for daily transactions, and funds may be withdrawn for free at any point.

8.7

MyDutchWallet score

bunq

High interest rates and feature-packed

Interest rate

2.67%

Why it made our list

As an all-Dutch neobank, bunq is packed with nifty features and — most importantly — a savings account with a competitive interest rate. Interest is paid out weekly, but bunq handles a withdrawal limit of two per month. While bunq’s savings account is free, it may be paired with one of their many subscriptions to unlock even more potential.

8.25

MyDutchWallet score

N26

Best savings/transaction combination

Interest rate

3.25%

Why it made our list

With its free savings account, N26 gives customers in the Netherlands an interest rate of 1.3%. If you plan on pairing your savings account with some of N26’s other great features, a premium account might be great for you — giving you access to interest rates of up to 2.5%.

7.9

MyDutchWallet score

Bigbank

The best savings rates from Europe

Interest rate

2.6%

Why it made our list

Bigbank is an Estonian bank which, thanks to its high interest rates on savings, has customers all across Europe. They offer both flexible and fixed-term savings options, with fixed interest rates as high as 3.20%. They also currently offer a 6-month welcome bonus of a 3.15% interest rate to new customers.

8.6

MyDutchWallet score

Trade Republic

Highest rates

Interest rate

2.75%

Why it made our list

Trade Republic is a German online bank, offering the highest interest rates on this list, at 3% on up to €50,000. Your free Trade Republic savings account is accessible through an easy-to-use app, which also gives you access to stock and ETF investment options.

7.7

MyDutchWallet score

ABN Amro

Brick and mortar with lower interest

Interest rate

1.50%

Why it made our list

If you’re looking for a brick-and-mortar bank with physical branches across the Netherlands, ABN Amro might be the one for you. Though their 1.5% interest rate isn’t the highest, their savings accounts come for free and with unlimited withdrawals.

7.8

MyDutchWallet score

Revolut

Interest paid daily

Interest rate

1.50%

Why it made our list

Revolut’s free savings account gets you a healthy 1.5% interest rate. Interest gets paid out into your account daily, ideal for speedy compound growth. Revolut also gives you access to various nifty savings features, and in exchange for a monthly fee for a bigger subscription, you can even bump your rate as high as 3%.

7.6

MyDutchWallet score

ING

Classic Dutch

Interest rate

1.50%

Why it made our list

Another Dutch classic is ING, the biggest bank in the Netherlands. With a 1.5% interest rate on your savings, you can enjoy the peace of mind of knowing your money is in great hands. ING is also one of the only traditional banks that lets users open an account without a BSN, perfect for newcomers to the Netherlands.

Our reviews

bunq

Coming soon

ING

Coming soon

N26

Coming soon

N26

Coming soon

ABN AMRO

Coming soon

Interest rates in the Netherlands, compared

	Interest rate	Account cost	Withdrawals
Trade Republic	3%	Free	Unlimited
bunq	2.01%	Free	Two per month
Bigbank	2.70%	Free	Unlimited
Openbank	2.75%	Free	Unlimited
N26	Up to 2.50%	Free	Unlimited
Revolut	Up to 3%	Free	Unlimited
ABN Amro	1.50%	Free	Unlimited
ING	1.50%	Free	Unlimited
Rabobank	1.70%	Free	Unlimited

Jargon, explained

Compound interest is the interest earned on both your initial deposit and any interest already earned, helping your savings grow faster over time.
A fixed interest rate remains constant for a specific period, providing predictable returns.
A variable interest rate can change over time, depending on market conditions or central bank policies.
The minimum balance requirement refers to the minimum amount of money you need to keep in the account to earn interest.
Your withdrawal limit restricts the number of free withdrawals you can make in a given period, often monthly, without incurring penalties.

What is the current European Central Bank (ECB) interest rate?

The European Central Bank (ECB) has a major influence over how much interest you may earn with your high-interest savings account in the Netherlands.

That’s because the ECB sets deposit rates for European banks, determining what banks earn on their deposits and, in turn, what you earn on yours.

These rates are revised every six weeks. As of December 2025, the European Central Bank interest rate is 3%.

What is a high-interest savings account?

A high-interest savings account is a type of savings account that offers a high annual percentage yield (APY).

Compared to traditional savings accounts, a high-interest savings account is designed to help you earn more interest on your deposits while keeping your money safe and accessible.

Interest rates on savings accounts in Europe and the Netherlands have been relatively low in the past years, but they can vary between banks and countries, which is why finding a good savings account is crucial.

Thanks to the Deposit Guarantee Scheme, which most European countries participate in, your Dutch high-interest savings account is very safe, protecting deposits of up to €100,000.

How do high-interest savings accounts work?

High-interest savings accounts are quite straightforward: You deposit your money, you let it sit, and you earn interest.

Here’s a breakdown of how they function:

You deposit your money: The first thing you’ll have to do (after opening your account), is deposit funds into the account. Some accounts may have minimum deposit requirements to earn the highest interest rate.
You earn interest: Once you’ve got money in your account, the bank pays you interest on your balance, usually weekly or monthly.
You withdraw your money when needed: Many high-interest savings accounts allow you to access your funds at any time, although some may limit the number of free withdrawals per month.

Pros and cons of Dutch savings accounts

Pros

Higher interest rates: You earn more compared to a traditional savings account.
Low risk: Your funds are insured up to €100,000 thanks to the Deposit Guarantee Scheme.
Easy accessibility: You can (usually) easily withdraw your money without fees.
No market fluctuations: Unlike the stock market, your balance is not affected by market fluctuations.
No or low fees: Many (online) banks have no or very low fees for opening and keeping a savings account.
Compounding interest: You earn interest not only on your original deposit but also on your earned interest.

Cons

Variable interest rates: Interest rates may vary over time due to market conditions and the ECB.
Lower returns compared to investments: Growth potential is usually lower compared to stocks or mutual funds.
Limited withdrawals: Some accounts may have limits on the number of monthly withdrawals.
Taxable interest: Interest earned through your account may be subject to income tax in the Netherlands.
Inflation impact: Returns may not keep up with inflation, meaning your overall purchasing power goes down.

How to find the right savings account for you

Finding the right high-interest savings account comes down to evaluating your personal financial needs and comparing the options.

When determining your needs, you may want to consider questions such as:

What are the fees for your savings account of choice?
How frequently do you want to withdraw money?
Do you have short-term or long-term saving goals?
Do you need in-person branches?
What other features does the bank give you?
Is the app available in English (if you don’t speak Dutch)?
And, of course: Are you getting a good interest rate?

Tip: Choosing the right savings account in the Netherlands

Types of savings accounts and interest rates in the Netherlands

*Standard savings accounts (Spaarrekening***)	*Fixed-term deposit accounts (Spaardeposito***)	*Retirement savings accounts (Pensioenrekening***)
Flexible access to your funds, with no fixed term.	Funds are locked for a set term (e.g., 1-5 years).	Designed for long-term savings for retirement.
Lower interest rates compared to fixed-term options.	Higher interest rates, fixed for the deposit period.	Might offer tax benefits under certain conditions.
Ideal for emergency funds or short-term savings goals.	Penalties may apply for early withdrawal.	Withdrawals usually restricted until retirement age.
Interest rates vary depending on the bank and balance.	Suitable for saving larger amounts with predictable returns.	Requires compliance with Dutch pension savings regulations.

Fixed vs variable interest rates on Dutch savings accounts

When choosing a savings account in the Netherlands, you’ll have to decide between an account with a fixed or variable interest rate. Here’s how they compare:

	Fixed interest rate	Variable interest rate
Stability 💪	Provides stability with a locked-in rate that doesn’t change.	Rates can fluctuate based on market conditions.
Earnings 📈	Guaranteed returns over the term of the account.	Returns can increase or decrease depending on rate trends.
Flexibility 🧘	Requires committing your funds for a set period of time.	Offers more flexibility for withdrawing funds.
Risk ⚠️	Low risk; not affected by market volatility.	Higher risk; subject to potential drops in rates.
Best for ✨	Long-term savers looking for peace of mind.	Short-term savers or those expecting rates to rise.

How your interest rate impacts your money

The interest rate on your savings account plays a major role in determining how quickly your savings will grow.

Even small differences in rates can lead to significantly different outcomes over time, thanks to the power of compound interest.

Compound interest is where the interest you earn on your savings is added to your initial deposit, and your future interest is calculated on this larger total. Over time, this “interest on interest” speeds up the growth of your money.

For example, if you deposit €1,000 in a savings account with a 3% annual interest rate:

After the first year, you earn €30 interest, making your total €1,030.
In the second year, interest is calculated on €1,030, resulting in €30.90 in interest, bringing your total to €1,060.90.
In the third year, interest is calculated on €1,060.90, adding €31.83, for a new total of €1,092.73.

Each year, your annual interest earned will go up.

Compound interest: Why the numbers matter

Higher interest rates mean faster growth: A higher interest rate speeds up the accumulation of interest on both your initial investment and your previously earned interest.

Time is of the essence: The longer your savings stay in your account untouched, the bigger the effect of compounding becomes.
Rate differences do matter: Even a small percentage increase in your interest rate can lead to hundreds or even thousands more euros in growth.

How to open a savings account in the Netherlands

Opening a savings account in the Netherlands is a simple process, as long as you have all the necessary documents at hand.

Most banks let you open an account online, but at banks with physical branches you can also often open one in person.

When opening your account, you’ll usually be asked for the following documents and details:

Valid proof of identity (a passport, European ID card, or residence permit)
Proof of your Dutch address (your rental contract, a municipality registration form, or a recent utility bill)
Your Burgerservicenummer (BSN), a.k.a. Your Dutch citizen service number

Good to know There are a handful of banks that let you open a bank account before you get your Dutch BSN. These are bunq, ING, ABN AMRO, as well as most online banks with headquarters outside of the Netherlands.

Dutch savings accounts and taxes

If you have a lot of savings in the Netherlands, you pay capital gains tax on it. Taxes on savings are governed by the Dutch box system. This system is divided into three boxes:

Box 1 for income from employment, business income, and retirement savings.
Box 2 for income from substantial interest (holding 5% or more in a company).
Box 3 for savings and investments.

To calculate the taxes you have to pay on your savings and investments, your assets are divided into bank savings and investment:

For bank savings (e.g., savings accounts, deposit accounts), the notional return is 1.03%.
For investments and other assets (e.g., shares, bonds, real estate), the notional return is 6.04%.

💡 A notional return is a hypothetical return that is used to calculate taxes on savings and investments in Box 3 of the Dutch tax system. It is not based on the actual earnings from your assets, but rather a predetermined percentage of the value of your savings and investments.

Under Box 3, you may also have a certain amount of assets (savings + investments – debts) that are tax-free. In 2024, this tax-free capital was €57,000 for someone who is single, and €114,000 for tax partners.

With these numbers in mind, calculating your projected taxes goes as follows:

Determine your total assets: This is the sum of your bank savings and investments minus any debts.
Subtract the tax-free threshold: This amount is deducted to get your “taxable base.”
Calculate the notional return based on the percentages mentioned:
1. 1.03% for bank savings.
2. 6.04% for investments and other assets.
Apply the appropriate tax rate (36% for most people in 2025) to the notional return to get the taxable amount.

Example If your Box 3 income (the amount of your assets exceeding the tax-free threshold) is €10,000, you would calculate the tax owed as follows:
[Tax = Box 3 income × Tax rate]
Tax = €10,000 × 36% = €3,600
So, if your Box 3 income exceeds the tax-free threshold by €10,000, you would pay €3,600 in taxes for the year.

Alternatives to savings accounts in the Netherlands

Investments

This includes stocks, bonds, ETFs, and mutual funds, offering potential for higher returns but with higher risk.

Pension funds

Contributions to these accounts, such as occupational pensions or individual plans, offer tax benefits and growth over time, providing financial security in retirement.

Insurance policies

Life insurance with cash value accumulates over time, providing financial protection and a savings component.

Certificates of deposit (CDs)

These are fixed-term deposits offered by banks with a fixed interest rate. They are less flexible compared to regular savings accounts but generally offer higher interest rates.

Savings accounts and interest rates in the Netherlands: Frequently asked questions

What are the best savings accounts in the Netherlands for [year]?

Currently, Trade Republic offers the best interest rate in the Netherlands at 3%, with unlimited withdrawals and for an unlimited time.

Besides that, bunq, Big Bank and Openbank also offer competitive rates, at 2.01%, 2.70%, and 2.75% respectively.

What is the average interest rate for savings accounts in the Netherlands?

The average interest rate for savings accounts in the Netherlands is around 2.25%, with online banks typically offering higher rates than traditional banks.

Can non-residents open a savings account in the Netherlands?

Yes, non-residents can open a savings account in the Netherlands, but the process and requirements may vary depending on the bank and its policies. Some banks might require you to show a proof of residency for a different country in the European Union.

You also may be asked to provide additional information such as a proof of source of income, or to make an initial deposit.

What is the difference between variable and fixed interest rates?

The main difference between a variable and a fixed interest rate is that, as the name indicates, a fixed interest rate stays the same for the entire term that your deposit is locked up, while a variable interest rate can change based on market conditions or the central bank’s rate.

Are online-only banks in the Netherlands safe?

Yes, Dutch online-only banks are generally safe, as they are regulated by the Dutch central bank (De Nederlandsche Bank). They also offer the same protections as traditional banks, such as the European Deposit Guarantee Scheme.

Is my money safe in a Dutch or EU savings account?

Dutch and European banks offer great protection and safety to their customers. Across Europe, the Deposit Guarantee Scheme, protects deposits up to €100,000 per account holder per bank, should the bank go bankrupt, for example.

Best savings accounts and interest rates in the Netherlands

Openbank

3.25%

bunq

2.67%

N26

3.25%

Bigbank

2.6%

Trade Republic

2.75%

ABN Amro

1.50%

Revolut

1.50%

ING

1.50%

Our reviews

bunq

ING

N26

N26

ABN AMRO

Interest rates in the Netherlands, compared

Jargon, explained

What is the current European Central Bank (ECB) interest rate?

What is a high-interest savings account?

How do high-interest savings accounts work?

Pros and cons of Dutch savings accounts

Pros

Cons

How to find the right savings account for you

Tip: Choosing the right savings account in the Netherlands

Types of savings accounts and interest rates in the Netherlands

Fixed vs variable interest rates on Dutch savings accounts

How your interest rate impacts your money

Compound interest: Why the numbers matter

How to open a savings account in the Netherlands

Dutch savings accounts and taxes

Alternatives to savings accounts in the Netherlands

Investments

Pension funds

Insurance policies

Certificates of deposit (CDs)

Savings accounts and interest rates in the Netherlands: Frequently asked questions

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