Bank savings schemes more popular

  • Amount deposited into bank savings accounts growing
  • Bank preferred to build up pension
  • Salary savings schemes remain popular

The aggregate amount deposited in bank savings accounts by Dutch households exceeded 2.4 billion euro at the end of 2009, approximately a fourfold increase relative to twelve months ago, as is shown by the most recent figures released by Statistics Netherlands.

Putting one’s savings in bank accounts with tax benefits was introduced on 1 January 2008. The amount is earmarked to build up pension, for pension payments or redemption of mortgage loans. At the end of 2009, the aggregate amount deposited in bank savings accounts to build up pension was more than 1.1 billion euro. Nearly 1 billion euro was deposited in banks for pension payments. This was the most popular method of saving. New deposits made by Dutch households to build up pension amounted more than 1.7 billion euro in 2009.

Pension saving schemes with banks also allow people to open investment accounts, although this opportunity was rarely used in 2009.
Another type of saving with tax benefits still invariably popular among employees is the salary savings scheme. The aggregate amount deposited in salary savings schemes grew by 12 percent in 2009 to nearly 4.3 billion euro.

Altogether, Dutch households had deposited nearly 285 billion euro in savings accounts by the end of 2009, i.e. a 7 percent increase relative to one year ago. The amounts deposited in all the various types of savings schemes increased. The substantial decline recorded in other savings methods is due to termination of fixed-term deposits, which were fairly popular in prior years.