The Dutch neobank Bunq is also thinking of its savings customers and has announced that it will increase the rate of return on its savings accounts.
With the recession looming, growing inflation and an economic context that is less and less favorable to purchasing power, all methods are good for valuing your money and one of the most popular means in France remains the contribution of a savings account.
While all banks generally follow the guidelines of the European Central Bank, which sets the key rate, which determines interest rates, some online banks and neo-banks are taking their own initiatives. This is the case of Bunq, which had already announced in December 2022 that it had increased the interest rate on its savings accounts from 0.27% to 1.05%. This rate goes to 1.31% with immediate effect on January 3, 2023. It should be remembered that the average rate of remuneration for bank deposits is just over 1.10%.
An initiative that comes after the scheduled meeting of the Board of Governors of the European Central Bank. With this in mind, Ali Niknam, Founder and CEO of Bunq says:
At Bunq, our users come first. That’s why we want our users to enjoy a better interest rate. This offers them a better user experience, as well as a better return on their savings.
Note, however, that this increase will not completely offset inflation, which has just exceeded 6% in France in November.
Budgeting therefore seems to be at the heart of Bunq’s strategy, which had already put forward advanced features in this direction in the recent Update 21 of its application environment.
Deposits multiplied by 10
The other info concerns the payment of interest rates. If before they were limited up to 10,000 euros deposit, Bunq goes up to 100,000 euros, still without minimum deposited. The bank also allows the transfer of money from a savings account to a current account twice a month, in real time.
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