After years of rock-bottom interest rates, savings accounts in the Netherlands are finally paying meaningful returns again. Whether you have a few thousand euros set aside or a substantial emergency fund, parking your money in the right account can make a real difference.
Here is the current landscape and our top picks for expats.
The Current Rate Landscape
As of early 2026, savings rates in the Netherlands range from around 1.5% at the big Dutch banks to over 3% at some smaller or EU-based banks. The European Central Bank's rate decisions over the past couple of years have pushed rates up from near zero, and competition among banks has kept them attractive.
Key trends to note:
- Rates have stabilized after the rapid increases of 2023-2024
- The gap between big banks and challengers remains significant—sometimes a full percentage point or more
- Fixed-term deposits generally offer higher rates than instant-access accounts
- Some banks offer promotional "welcome" rates that drop after a few months
Top Picks for Expats
Best for Easy Access
Openbank (by Santander): Consistently offers one of the highest rates for instant-access savings. The app is available in English, and as part of the Santander group, your deposits are covered by the Spanish deposit guarantee (same EUR 100,000 protection). Opening an account is fully digital and expat-friendly.
Trade Republic: Originally known as a brokerage, Trade Republic now offers a competitive savings rate on your uninvested cash balance. The interface is excellent, and they accept customers from the Netherlands easily. Deposits are protected under the German deposit guarantee scheme.
Best Overall Rate
BigBank: This Estonian bank has been operating in the Netherlands for years and typically offers among the highest rates available. They offer both instant-access and fixed-term options. Deposits are covered by the Estonian deposit guarantee (backed by EU standards). Their interface is functional if not fancy, and English support is available.
Best Dutch Bank Option
bunq Easy Savings: If you want to keep everything with one provider and you are already a bunq customer, their savings account offers a competitive rate for a Dutch bank. The integration with your main account makes transfers instant, and bunq's app is one of the best in the market. Dutch deposit guarantee applies.
How Savings Rates Work in the Netherlands
A few things work differently here compared to other countries:
Interest calculation: Most Dutch banks calculate interest daily and pay it out annually (or quarterly in some cases). The rate you see advertised is the annual rate (rente per jaar).
Deposit guarantee: Under the EU Deposit Guarantee Scheme, your deposits are protected up to EUR 100,000 per person per bank. This applies to both Dutch banks and EU-based banks operating in the Netherlands. If a bank fails, you get your money back (up to the limit) within 7 working days.
Tax implications: The Netherlands does not tax actual interest earned. Instead, they use a "deemed return" system (box 3) where the government assumes you earn a certain return on your assets and taxes that. This means whether you earn 1% or 3% on your savings, the tax treatment is essentially the same. The deemed return is recalculated each year based on actual market returns.
Fixed-Term vs. Instant Access
Fixed-term deposits (deposito) lock your money away for a set period—typically 1, 2, 3, or 5 years—in exchange for a higher rate. Instant-access accounts (vrij opneembare spaarrekening) let you withdraw anytime but usually offer a lower rate.
Our recommendation for most expats: Start with an instant-access account for your emergency fund (3-6 months of expenses). If you have additional savings you will not need for a while, consider a fixed-term deposit for the higher rate. The rate premium for locking your money away is currently around 0.3-0.5 percentage points, which may or may not be worth the reduced flexibility.
Tips for Maximizing Your Savings
- Do not settle for your main bank's rate: The big Dutch banks often offer significantly lower savings rates than challengers. It is worth opening a separate savings account with a higher-rate provider.
- Watch out for promotional rates: Some banks offer a high introductory rate that drops after 3-6 months. Check what the standard rate is before committing.
- Spread across banks if needed: If you have more than EUR 100,000 in savings, spread it across multiple banks to stay within the deposit guarantee limit at each one.
- Automate transfers: Set up a monthly automatic transfer from your current account to your savings account. Consistent saving matters more than chasing the absolute highest rate.
For a full, real-time comparison of every savings account available to expats, visit our savings account comparison page.