Dutch savings accounts: banks with the best interest rates

Earn money on your ๐Ÿ’ฐ

Searching for the perfect Dutch savings account can feel like navigating a maze, but the perfect account has the potential to pump your bank balance to the max.

With housing interest rates up, Dutch banks now have more cash than ever to attract people to invest their money in their vaults โ€” we’re seeing some of the highest deposit rates in 15 years!

From stable returns for the cautious saver to high-yield opportunities for the ambitious investor, this article will demystify the world of Dutch savings accounts, helping you make confident and informed decisions about where to grow your money.

Whether you need to open a bank account in the Netherlands or you want to get into some good savings habits, here are the Dutch banks with the best interest rates.

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The best savings accounts in the Netherlands

If you’re looking for a savings account in the Netherlands with the best interest rates, well, you have a lot of options.

We’ve found the highest interest rates, best banks, and best accounts to earn interest on your money.

Overview: our top picks

BankInterest Rate (November 2023)
Trade Republic4%

bunq: best for tech-lovers


The Netherlands’ very own neobank, bunq, offers up to 2.46% on savings of up to โ‚ฌ100,000. 

Interest is paid monthly, and the account is completely free! Best of all, you can open an account and start earning interest in just five minutes.

๐Ÿ“ˆ Current rate: 2.46%
๐Ÿ’ถ Withdrawals: Yes, two per month
๐Ÿ‡ฌ๐Ÿ‡ง Available in English: Yes

Trade Republic: best for growing your income

Trade Republic is a German bank offering an unbeatable 4% interest on savings of up to โ‚ฌ50,000.

In addition to this, an account comes with the ability to withdraw weekly at no cost, pay low account costs, and invest in a range of premium programmes.

๐Ÿ“ˆ Current rate: 4%
๐Ÿ’ถ Withdrawals: Yes
๐Ÿ‡ฌ๐Ÿ‡ง Available in English: Yes

Raisin: best for people who want the highest rates in Europe


Raisin isn’t a bank; instead, it’s a platform that offers different accounts from European banks to get you the best rates in the continent. Raisin continues to offer many ever-changing offers on its site, and it’s best to check these yourself.

One account with Raisin gets you the best rates in Europe. Fixed-term deposits can be as high as 4.40%!

๐Ÿ“ˆ Current rate: 3.01% (Distingo)
๐Ÿ’ถ Withdrawals: Yes
๐Ÿ‡ฌ๐Ÿ‡ง Available in English: Yes

Bigbank: best for people investing long-term


Bigbank is a European bank with an interest rate of 3% for savings of up to โ‚ฌ100,000 on flexible savings accounts. 

However, fixed-rate savings accounts can have an interest rate of up to 3.5%, starting at โ‚ฌ1,000 for a minimum of 12 months.

๐Ÿ“ˆ Current rate: 3%
๐Ÿ’ถ Withdrawals: Yes
๐Ÿ‡ฌ๐Ÿ‡ง Available in English: Yes

Openbank: best for people who want access to their money


Openbank‘s Spaarrekening account currently offers a 3.65% interest rate on savings of up to โ‚ฌ1,000,000 and even higher for fixed-term deposits.

Your money is also always available for withdrawal, and there are no account costs.

๐Ÿ“ˆ Current rate: 3.65%
๐Ÿ’ถ Withdrawals: Yes
๐Ÿ‡ฌ๐Ÿ‡ง Available in English: Yes

ABN AMRO: best for those seeking a traditional bank


ABN AMRO might not have the highest interest rates for savings in the Netherlands, but it is a brick-and-mortar bank.

If you feel more comfortable with a traditional bank, this is a solid choice โ€” your money will still grow, just a bit slower.

๐Ÿ“ˆ Current rate: 1.5%
๐Ÿ’ถ Withdrawals: Yes
๐Ÿ‡ฌ๐Ÿ‡ง Available in English: Yes

What to know about savings accounts in the Netherlands

Interest rates on savings in the Netherlands

Now, let’s talk about interest rates. The Dutch have a saying: “Don’t count your tulips before they bloom.” That applies to savings rates too. In recent years, rates have been on the lower side โ€” even threatening to go into the negatives for a while.

Luckily, they’ve since taken a turn for the better, and now it’s really worth putting your money into a Dutch savings account. However, to get the best possible rates on savings, it’s often worth looking for a neobank like bunq or Revolut, or a platform like Raisin to earn the highest interest rates in Europe.

Safety of Dutch savings accounts

The Netherlands is known for its impressive banking system. The banks here are regulated by the Dutch Central Bank, so you can rest easy knowing your hard-earned cash is in safe hands. Just make sure to choose a bank that’s as solid as the Dutch dikes!

Banking and finances CAN be stress-free! Image: Freepik

When it comes to safety, European banks, in general, are solid. Thanks to the Deposit Guarantee Scheme (DGS), your savings are protected up to โ‚ฌ100,000 per person, per bank. Even if your bank decides to do the unthinkable and go belly-up, the DGS will swoop in and save the day.

Before you start socking away your euros, keep in mind that some savings accounts in the Netherlands might have a few rules. They can be as strict as not eating cheese with your hands (which, let’s be honest, is impossible) or as reasonable as limiting the number of withdrawals you can make in a specific period. Just make sure to read the fine print and choose an account that fits your needs like a well-fitted pair of wooden clogs.

History of Dutch interest rates and saving

Now, let’s talk history. Did you know that the Dutch have been saving money since before bicycles were cool? It’s true! The Netherlands has a long tradition of frugality and financial prudence. Perhaps it’s because they want to save up for endless amounts of cheese and stroopwafels. Whatever the reason, the Dutch know a thing or two about growing their savings like tulips in a sun-drenched field.

Taxes on Dutch savings accounts

Now, when it comes to taxes, the Dutch take it seriously. You don’t want to end up in a fiscal maze, do you? Consult a tax advisor or financial pro to understand your obligations and make sure you’re not caught off guard. Trust me, you don’t want to experience the wrath of the Dutch taxman.

In a nutshell, Dutch savings accounts are as reliable as tulips popping up in spring. Do your research, compare rates, and find a bank that makes you feel like you’re floating through a canal of financial bliss. With a bit of Dutch determination and a pinch of cheese-loving frugality, you’ll master the art of saving money in the Netherlands โ€” and earning some extra cash on it too. ๐Ÿ˜‰

Do you have any money-saving tips? Tell us in the comments!

Disclaimer: This article offers general financial advice. If you are looking for more specific and personal advice, we suggest checking in with a financial expert (or just turning to your mattress stuffed with cash).

Frequently Asked Questions: Dutch savings accounts with the best interest rates

Can I open a savings account in Europe outside of the EU country I live in?

Yes. You can do this as long as you have legal residence or citizenship from an EU country.  

Why are Dutch banks suddenly increasing interest rates?

Which Dutch banks have new savings account interest rates?

What is a fixed-rate savings account?

What does it mean if a savings account is freely withdrawable?

Feature Image:Depositphotos

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  1. This was a very useful overview. Thanks!
    After reading it and comparing better a few of the options, I decided to try and open a bank account online with OpenBank but they require either a Dutch ID card or a passport. There is no way to do it with another EU ID-card. So, they lost me as a client… Not so easy after all.


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