The Belgian branch of French bank BNP Paribas, BNP Paribas Fortis, announced on Wednesday that it would lower interest rates on several of its savings accounts starting 1 March.
Several savings account offerings from across the banks portfolio in Belgium, including those under the Fintro and Hello bank! brand, will become less attractive from the start of March. Many of the rates on these accounts had already been reduced in January.
BNP Paribas Fortis' classic savings account, whose rates had not been altered at the start of the year, will see its base rate fall from 0.5% to 0.4%, while its loyalty bonus will fall from 0.25% to 0.2%. The same rate cuts will apply for its PRO savings accounts.
The bank's Plus savings account will see its base rate slashed from 0.5% to 0.25%, but its loyalty bonus will remain fixed at 1%, after falling 0.25% in January.
The current basic interest rates and loyalty premiums will remain unchanged for all payments made before 1 March. The new rates will become effective for the account for any deposits made after this date.
