ING Belgium announced on Tuesday that it will lower the interest rates on its savings accounts starting on 1 March, following recent market developments.
The basic annual interest rate for the ING savings account will be reduced to 0.10%, and the annual loyalty bonus will be 1.40%, down from the current rates of 0.25% and 1.50%, respectively.
The ING Tempo Savings account will offer an annual basic rate of 1.00% and an annual loyalty bonus of 1.50%, compared to the previous rates of 1.05% and 1.70%.
The bank cited the ongoing policy of rate cuts by the European Central Bank since 2024 as the reason for its decision.
“The deposit facility rate, which determines the interest paid to banks that deposit excess liquidity with the ECB, has been reduced five times,” it stated.
ING had already lowered the rates on its savings accounts in January.
