Garanti BBVA Savings vs Openbank Welcome Savings
Two savings accounts for expats in the Netherlands, figure by figure.
Openbank Welcome Savings is the stronger pick for most expats.
- Interest rate: 3.10% as a promotion for 6 months, then 2.25% vs 2.55% as a promotion for 6 months, then 1.55%
- Maximum deposit: €1,000,000 vs €100,000
- Deposit guarantee: Up to €100,000 (ES scheme) vs Not verified
| Figure | ||
|---|---|---|
| Interest rate | 2.55% as a promotion for 6 months, then 1.55% | 3.10% as a promotion for 6 months, then 2.25% (better) |
| Minimum deposit | None | None |
| Access to your money | Instant | Instant |
| Maximum deposit | €100,000 | €1,000,000 (better) |
| Deposit guarantee | Not verified | Up to €100,000 (ES scheme) (better) |
| Rate check | Not yet verified | Verified 18 October 2026 |
Bold marks the better value in a row. Figures are checked daily against provider sources; each product page shows when its figures were last confirmed.
Garanti BBVA Savings
What we like
- 2.55% promotional rate for 6 months
- Dutch-registered bank with DNB supervision
- Full €100k deposit guarantee
- No lock-up period
What to consider
- Standard rate drops to 1.55% after promo
- Less known brand in Netherlands
- Basic online interface
- Rate may change
Openbank Welcome Savings
What we like
- 3.00% welcome rate for 3 months
- No minimum deposit
- Up to €1 million covered
- EU deposit guarantee (Spain)
What to consider
- Rate drops to 1.90% after promo
- Spanish bank (Santander subsidiary)
- Customer service can be slow
- App not as polished as Dutch banks
Questions
Is Garanti BBVA Savings or Openbank Welcome Savings better for expats in the Netherlands?
Openbank Welcome Savings comes out ahead for most expats. Interest rate: 3.10% as a promotion for 6 months, then 2.25% vs 2.55% as a promotion for 6 months, then 1.55%
Which has the higher interest rate, Garanti BBVA Savings or Openbank Welcome Savings?
Openbank Welcome Savings pays more — 3.10% as a promotion for 6 months, then 2.25% versus 2.55% as a promotion for 6 months, then 1.55%.
Are Garanti BBVA Savings and Openbank Welcome Savings covered by a deposit guarantee?
Garanti BBVA Savings: Not verified yet. Check the provider’s deposit guarantee information sheet before you deposit. Openbank Welcome Savings: Up to €100,000 per person per bank, under the Spanish deposit guarantee fund (FGD).