ING will increase interest rates for its regulated savings accounts in Belgium starting July 1, according to reports from L’Avenir and L’Echo. Other financial institutions are also adjusting their offerings, with MeDirect raising the interest rate on its primary savings account, as reported by La Libre.be.
Which banks are raising savings rates?
According to local media reports, two major players in the Belgian market are adjusting their interest policies:
- ING: The bank is increasing rates for its regulated savings accounts effective July 1, according to L’Avenir and L’Echo.
- MeDirect: The institution is raising the interest rate for its main savings account, according to La Libre.be.
These moves follow general reports from Le Soir indicating that Belgian banks are beginning to lift savings rates for their customers.
How these changes affect account holders
The adjustments target specific account types. For ING customers, the hike applies specifically to regulated savings accounts, which are subject to specific national rules regarding how interest is calculated and credited. MeDirect’s increase focuses on its principal savings account, directly impacting the yield for users holding funds in that specific product.
